How I Programmed RSI 2 Period Trading Strategy in MultiCharts (Larry Connors Strategy)

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Күн бұрын

Watch how I program / code Larry Connors' 2 period RSI Trading Strategy in MultiCharts so we can back test or live trade automatically. This is how to create a profitable trading algorithm.
The strategy can be found in Larry Connors and Cesar Alvarez 's book "short term trading strategies that work"
The strategy uses a 2 period RSI or relative strength index indicator to identify buying opportunities in the s&p 500 or e - mini.
The programming language I use for MultiCharts is called Powerlanguage which is very similar to Easylanguage used by Tradestation.
Grab 3 favourite strategies for FREE in my new 22 page Beat the Markets Strategy Guidebook here: www.thetransparenttrader.com/...
Interested in MultiCharts? Email me to find out about their latest deals - jarrod@thetransparenttrader.com
WEBSITE: www.thetransparenttrader.com/
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DISCLAIMER:
I am not a financial advisor and I am not offering you financial advice. I am not regulated in any way. The purpose of the content I provide is for educational purposes only.
Any information you receive is based on my own knowledge and experience in the financial markets and how you act on the information provided is your own responsibility.
I cannot be held responsible for any losses you may incur as a result of ideas taken from my content provided.

Пікірлер: 22

@Simon-vb8fu Жыл бұрын

Great video, thanks Jarrod. After doing all my trading and backtesting manually for the last 1+ year. I just ran the MC optimisation report, in 5 seconds, with 1000 variations. The smile on my face after that! 😁 I'm hooked. Working through your course ATM.

@grahamw453 2 жыл бұрын

Straightforward, concise, clear .. very useful. Thanks for creating this video.

@TheTransparentTrader 2 жыл бұрын

Thanks. Glad it was helpful!

@williambyrdson6159 2 жыл бұрын

Excellent video!!!

@TheTransparentTrader 2 жыл бұрын

Glad you liked it!

@MyKkata 2 жыл бұрын

Hi I have the following two questions: 1) what about market conditions such as now (2022) which has been bearish and the index has mostly stayed below the 200 MA ? do we have a bearish strategy where we sell short when RSI > 95 and close when price closes Above 5 EMA ? (reverse of the Buy ony rules) intereseted in your thoughts. 3) You have indicated some losing trades in your back testing reports.. What was the stop loss rule that was used corresponding to the 'stats' that were discussed? Just curious. Thank you.

@lisah7020 2 жыл бұрын

Excellent - can these strategies be used for day trading using tighter targets pls?

@heshammostafafahmy 2 жыл бұрын

How does it close a loosing trade ? Did you set a stoploss it doesnt seem like you did. If a trade did not meet the closing condition then it will remain floating how does the system go by that ?

@TheTransparentTrader 2 жыл бұрын

All trades are closed when price closes above the 5 period MA whether in profit or a loss. If you watch to the end of the video I explain the stop loss.

@ambroseanagwaonye6484 2 жыл бұрын

Nice video

@vedranmikuljan1861 2 жыл бұрын

Great video, thanks. How would you apply this strategy to a stock portfolio (e.g. S&P 500)? It would generate a lot of daily entries, so there would need to be a way to sort the potential trades, maybe by historical volatility?

@TheTransparentTrader 2 жыл бұрын

I'm not sure. It should work on individual stocks but selecting which ones I don't know. That's why I just stick the the index.

@kankrz 2 жыл бұрын

at close: if(Ask> MA5 && MA20(close)MA20open) Cheers.

@joeh4694 2 жыл бұрын

That’s really interesting. Do you run multicharts on a server so it’s always running in case a strategy triggers?

@TheTransparentTrader 2 жыл бұрын

Yes I usually use a VPS. However I have successfully ran MC on a spare laptop running 24hrs a day at home. I am lucky enough to have very stable internet connections and rare power outages.

@sadocommando2434 2 жыл бұрын

What do you recommend between Amibroker and Multicharts?

@TheTransparentTrader 2 жыл бұрын

I can't comment on Amibroker I'm afraid as I have never used it. I am told it's very good and fast for back testing though. If I wasn't using MC then I would look into using Amibroker.