Trying to create a backtest for when RSI dips below 30 (Oversold) and then subsequently triggers a buy once the RSI closes back above 30. I have tried RSI and RSIBand Indicator as part of Indicator Crosses Indicator Condition but this is not creating the back test I am looking for.
Thanks for any insight.
Thanks for any insight.
Rename
That only condition is not enough. You have two separate events in sequential order. Look for "Multi-Condition Groups and the OR Divider" in the WL8 Help.
Alternatively, you can add two blocks for "RSI below 30" and "RSI above 30" and attach the "N Bars ago" qualifier to the first one to mark it as the setup event so the second one would be the trigger.
Ok, so using 2 Indicator Crosses Indicator Conditions. Once when crossing under the RSI and one when price closes above RSI.
Three questions:
1. How do you set the lower oversold RSI (Ex: 30) as a trigger for when the RSI goes below/above?
2. When using N bars ago, how do you set up "At Least" N Bars Ago. From the way I am understanding it now, when using N Bars Ago it means specifically that numbers of bars. But I need at least 1 daily bar and probably more as I will not know long it will take for the RSI to get back above 30?
3. Does WL8 read from top to bottom or bottom to top. i.e. which condition occurs first to WL8?

Three questions:
1. How do you set the lower oversold RSI (Ex: 30) as a trigger for when the RSI goes below/above?
2. When using N bars ago, how do you set up "At Least" N Bars Ago. From the way I am understanding it now, when using N Bars Ago it means specifically that numbers of bars. But I need at least 1 daily bar and probably more as I will not know long it will take for the RSI to get back above 30?
3. Does WL8 read from top to bottom or bottom to top. i.e. which condition occurs first to WL8?
>>RSI dips below 30 (Oversold) and then subsequently triggers a buy once the RSI closes back above 30<<
You can model this with one Condition: Indicator (RSI) Crosses (above) Value (30).
You can model this with one Condition: Indicator (RSI) Crosses (above) Value (30).
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