This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
Trading items are of different types. There are data downloaders, trading indicators, trading systems, watchlists, composites/indices...
You can use this item and hundreds of others for free by downloading QuantShare.
Top Reasons Why You Should Use QuantShare:
Works with US and international markets (stock, forex, options, futures, ETF...)
Offers you the tools that will help you become a profitable trader
Allows you to implement any trading ideas
Exchange items and ideas with other QuantShare users
Our support team is very responsive and will answer any of your questions
We will implement any features you suggest
Very low price and much more features than the majority of other trading software
Investopedia defines oversold as
1. A condition in which the price of an underlying asset has fallen sharply, and to a level below which its true value resides. This condition is usually a result of market overreaction or panic selling.
2. A situation in technical analysis where the price of an asset has fallen to such a degree - usually on high volume - that an oscillator has reached a lower bound. This is generally interpreted as a sign that the price of the asset is becoming undervalued and may represent a buying opportunity for investors.
The RSI Indicator is a good tool to help identify overbought/ oversold conditions, divergences, and crossovers that investors use to identify new trends in a stock or the market. Known as the Relative Strength Index, the RSI was developed by J. Welles Wilder in 1978 to measure the relative strength of price currently compared to its price history over a set number of periods.
This watchlist is one object in a series of object that attemps to build a profitable RSI methodology. This Watchlist contains those stocks that made more than 1% per trade during the period 1/1/2000 thru 1/1/2008 using the "oversold RSI methology". This watchlist can be used to forward test the "oversold RSI methodology".