RSI on 1-day charts (Automated strategy)

[KGMK]

Hello,

Everyone. I am automated trader. I have a list of 8000 tickers. I am using RSI on 1-day charts. Everytime the stock become oversold or undersold I will make a trade. I almost have 99% good trades. The strategy works best if you apply to all stocks because these signals dont come so often. But when they become you can be certain they are valid.

 

[Quanto]

Use RSI in combination with other such indicators/oscillators, ie. get a confirmation signal, b/c sometimes RSI gives wrong signals.

BollingerBands, Stochastic-Momentum (not the normal Stochastics; see https://finance.yahoo.com/quote/AMD/chart), and MACD are good companions.

Of course too many indicators will slow down the scanning process, so at least the % location within the BollingerBand channel should be a "must", IMO.
The formula is: BB% = BB / (BBupper - BBlower) * 100
Values above 80% would mean sell area, values below 20 would mean buy area.
(When using daily data).

 

[ZBZB]

What period for calculating RSI are you using?

 

[KGMK]

Use RSI in combination with other such indicators/oscillators, ie. get a confirmation signal, b/c sometimes RSI gives wrong signals.

BollingerBands, Stochastic-Momentum (not the normal Stochastics; see https://finance.yahoo.com/quote/AMD/chart), and MACD are good companions.

Of course too many indicators will slow down the scanning process, so at least the % location within the BollingerBand channel should be a "must", IMO.
The formula is: BB% = BB / (BBupper - BBlower) * 100
Values above 80% would mean sell area, values below 20 would mean buy area.
(When using daily data).

Bro, it all saying the same thing. You don't need more indicators. Are you going to have 3 trend indicators that basically saying the exact same thing?

And whats up with losing money anyway. You think money is important? A lot of traders never trade. Just analyze their whole life because they are afraid of losing money

 

[KGMK]

Bro, it all saying the same thing. Everything tells either trend or oversold or overbought conditions. Why BollingerBands and MACD which is a oversold and overbought indicator. Add a trend indicator like MVA or ATR.

 

[KGMK]

@Quanto Bro, it all saying the same thing. Everything tells either trend or oversold or overbought conditions. Why BollingerBands and MACD which is a oversold and overbought indicator. Add a trend indicator like MVA or ATR.

@ZBZB 7 length should be sufficient for 1D chart. Over 14 and you get fewer trades.

The reason we are trading on 1D charts is because as a non-usa citizen I trade werid times like 4AM and 10PM. It's better for me to wake up and read new signals and then placing trades for 2-4 days.

I trade on 1M too. But that's more for earning reports.

And my latest strategy is trading Gap Fills

 

[KGMK]

@Quanto Bro, it all saying the same thing. Everything tells either trend or oversold or overbought conditions. Why BollingerBands and MACD which is a oversold and overbought indicator. Add a trend indicator like MVA or ATR.

@ZBZB 7 length should be sufficient for 1D chart. Over 14 and you get fewer trades.

The reason we are trading on 1D charts is because as a non-usa citizen I trade werid times like 4AM and 10PM. It's better for me to wake up and read new signals and then placing trades for 2-4 days.

I trade on 1 MIN too. But that's more for earning reports.

And my latest strategy is trading Gap Fills

 

[ZBZB]

@Quanto Bro, it all saying the same thing. Everything tells either trend or oversold or overbought conditions. Why BollingerBands and MACD which is a oversold and overbought indicator. Add a trend indicator like MVA or ATR.

@ZBZB 7 length should be sufficient for 1D chart. Over 14 and you get fewer trades.

The reason we are trading on 1D charts is because as a non-usa citizen I trade werid times like 4AM and 10PM. It's better for me to wake up and read new signals and then placing trades for 2-4 days.

I trade on 1 MIN too. But that's more for earning reports.

And my latest strategy is trading Gap Fills

Search for the Connor’s rsi strategy. Uses two periods for the RSI. On intraday charts as well.

 

[Quanto]

@KGMK, are you a daytrader? Ie. closing all positions before market closes?
How long did it take to automate your trading? Are you the programmer?
How is the success rate? Any statistics so far? Ie. # trades per day etc.

I too am interested to create a daytrading strategy, just looking for info and experiences of others...
Can you tell about your experiences, and give some tips?

 

[KGMK]

No, I am not a pattern day trader. Yes I can work as programmer