Job finished
Specification
I would like to try Connors' RSI-2 System by backtesting in MetaTrader.
Copied from another site, here is what the system should do, giving me signals and the possibility to backtest it in Metatrader.
Indicators Used:
A 2 Period RSI with the upper line at 90 and the lower line at 10 looking for Extremes.
A 200 period Simple Moving Average, and a 5 period SMA.
Entry Rules:
Buy Only When Stock is Above 200-SMA, AND Below 5-Day SMA, With RSI Below 10
Short Only when Stock is Below 200-SMA, AND Above 5-Day SMA, With RSI Above 90
Exit Criteria:
If Buying EXIT when Price goes Above 5 SMA.
If Selling Exit when Price Goes Below 5 SMA.
Rules Used in Backtest:
If Entry Condition True Then Enter Next Day At Market Open.
If Exit Condition True the Exit That Day At Market On Close IF Close is Above the 5 SMA in Up Trend, or Below the 5 SMA in Down Trend.