| Name: |
The Wilson Relative Price Channels |
| Description: |
In “The Wilson Relative Price Channels” author Leon Wilson illustrates how to quantify the relationship between price action and strength. Based on his observation and the indicator created, we can build a trading strategy using Tradecision’s Strategy Builder.
Entry Long
var
Len := 30;
OverB := 55;
OverS := 45;
RsiVal := RSI (Close, Len);
OB := RsiVal - OverB;
OS := RsiVal - OverS;
end_var
{avoiding wrong signals}
if HistorySize < Len * 2 then return false;
{generating a signal}
if CrossBelow (Close, Close - Close * OB / 100) then return true;
return false;
Exit Long
var
Len := 30;
OverB := 55;
OverS := 45;
RsiVal := RSI (Close, Len);
OB := RsiVal - OverB;
OS := RsiVal - OverS;
end_var
{avoiding wrong signals}
if HistorySize < Len * 2 then return false;
{generating a signal}
if CrossAbove (Close, Close - Close * OB / 100) then return true;
return false;
Entry Short
var
Len := 30;
OverB := 55;
OverS := 45;
RsiVal := RSI (Close, Len);
OB := RsiVal - OverB;
OS := RsiVal - OverS;
end_var
{avoiding wrong signals}
if HistorySize < Len * 2 then return false;
{generating a signal}
if CrossAbove (Close, Close - Close * OS / 100) then return true;
return false;
Exit Short
var
Len := 30;
OverB := 55;
OverS := 45;
RsiVal := RSI (Close, Len);
OB := RsiVal - OverB;
OS := RsiVal - OverS;
end_var
{avoiding wrong signals}
if HistorySize < Len * 2 then return false;
{generating a signal}
if CrossBelow (Close, Close - Close * OS / 100) then return true;
return false;
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| Function Name: |
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Download to import into Tradecision. 
How to use this strategy in Tradecision:
- Click Download.
- Save this strategy in a safe location on your hard drive.
- Open Tradecision and in the Tools menu click Strategy Builder.
- In the Strategy Builder dialog, click Import, locate the saved file and then click OK.
The strategy will be added to the Strategy list.
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