RSI threshold as price trigger across multipe securities

[trevoryoung]

I'm new to these forums and eSignal, so please bear with me.

I want to backtest the following strategy: Using RSI as a trigger (where the RSI length and a threshold are inputs), buy five of a group of 20 or so securities based on their RSI.

So for example, if asset QQQ has a RSI(7) of 63 and my threshold is 60, it would be bought and held until the RSI went below 60. However, if there were 5 other assets from my list with an RSI above that of QQQ, those top 5 would be bought instead.

I looked at a few of the RSI formulas and tried out a few, but they don't seem to offer what I'm looking for. Can anyone help provide some guidance?

Also, my programming skills are limited to the intro class I took in college several years ago.

Any help would be appreciated!

[eSignal_JasonK]

Hello trevoryoung,

Welcome to the eSignal forums.

To begin learning how to code in EFS, please start with the following resources.

JavaScript for EFS video series
This will provide an introduction to the JavaScript language, which is the basis for our eSignal Formula Script (EFS).

EFS Tutorial Series
These beginner tutorials will cover the basics of the EFS environment as well as back testing specifics.

After going through these resources you should be well on your way to developing your custom formulas and back testing strategies. Please note, however, that EFS is not designed to run a formula on a list of symbols, which is also referred to as scanning. A single formula is limited to accessing up to seven total symbols and/or intervals.

If learning EFS is not something you wish to do and you would like someone to develop your formulas, you may want to contact one of our EFS Consultants.