 | Oversold Indicator: Feasibility Input Desiredby WuFinancial on August 13th, 2008 at 10:36 am |
(5 votes, average: 4.4 out of 5)
Loading ...I’ve put together a set of two intraday oversold indicators and backtested it. I was hoping someone who deals with that sort of thing was on this site and could check it out for me, give me some input on if it’s straight up poop-chute type of stuff or worth developing further. I hope the screen shot comes out so you can see it. This ain’t a sales pitch - nothing to sell, but feel free to remove the post if it’s not the purpose of this arena.
UPDATE: Completed July 2008 as well for a total of almost 7 full months’ worth of backtesting. Please email me with any input, GrandSynergy<at>gmail.com. I appreciate it.
By the way, don’t forget TO DIVERSIFY YO BONDS
August 13th, 2008 at 10:37 amWhy does the backtest only go until July 4th?
August 13th, 2008 at 12:06 pmI had been testing it since July 15 and the person who requested the backtest only wanted six months. I plan on finishing the entirety of July in the next week or so. Haha, no secrets don’t worry. I suspect it’ll show a modest July when complete.
August 13th, 2008 at 1:09 pmSheet has been updated, please review and offer input. I’m doing this for input, not for anything else. Thanks.
August 13th, 2008 at 2:33 pmWuFinancial- this looks interesting.
One thing that jumps out at me…you have said it is “intraday indicators” but you have backtested it using EOD data.
Are the signals intraday with orders being generated intra-bar? Or are the signals being generated intra-day with the orders being generated for the next open?
August 13th, 2008 at 3:13 pmI backtested using EOD because it’s accurate enough to do so based on the following:
I do my voodoo over the weekend to come up with the names and ratios for the following week. Then, using each day’s open that week and my ratios (different for all 50-or-so names) the indicator lights up on my MS Excel sheet (and for those testing it currently) alerting them that a long entry point, on an intraday basis, has been hit and it’s time to buy. Shares are sold as close to the close as possible without being caught with your pants down - no overnight risk.
It’s an intraday buy-and-hold-til-close oversold indicator. Keeps transaction costs lower than typical day traders and the returns have been fair, in my opinion.
August 13th, 2008 at 3:54 pm