Rank: Newbie
Groups: Registered, Registered Users
Joined: 1/24/2012(UTC)
Posts: 4
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Basically, I am trying to write an explorer which looks at the 1min, 5 min, 30min and 60min...and scan for stocks which meet the condition RSI 300 > 50 across on all 4 timeframes...
I was thinking that I should be working with the 1min dataset...and figure out a way to somehow "compress" those data into 5min, 30min etc. if that possible?
I've been experimenting with this routine
new:=Mod(Minute(),5)=0;
ValueWhen(1,new,C);
so the exact code now look something like:
buy1:=If(RSI(300) > 50,1,0);
new:=Mod(Minute(),5)=0;
ValueWhen(1,new,C);
buy2:=If(RSI(300) > 50,1,0);
new:=Mod(Minute(),30)=0;
ValueWhen(1,new,C);
buy3:=If(RSI(300) > 50,1,0);
confirm := buy1 AND buy2 AND buy3;
confirm
I have no way of testing whether the time frame have actually been compressed for the buy2 & buy3 IF procedures..
Any help would be greatly appreciated.
Thanks.
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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The simplest method is to create three explorations, one for each timeframe, then run the whole thing as a batch, using results from each previous exploration. At the end, you'll have a list of those instruments which meet the criteria in all timeframes. The only problem with this approach is you will need to run the explorations every minute (although this can be "automated" by using windows scripts etc); the benefit is you can scan all the instruments at once, so long as you can download the online:() data fast enough! The next approach is to use Roy Larsen's excellent set of true muti-timeframe indicators, available from his website : http://www.metastocktips.co.nz/
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