- ago
Hello,
I'm new to Wealth Lab - I already read many articles and watched videos but I can't find an answer to my question.
I'm trying to build a Bollinger Bands(BB) + RSI strategy with the blocks provided on Wealth Lab 7.
My Situation:

1.Entry:
1.1 Buy:
-Conditions in order to buy:
1.If the lower BB (standard deviation=2 and 50 days) is hit by the chart
+
2.RSI is below 40

-> My problem here:
-Which block/move do I have to use that both conditions should be fulfilled in order to buy?
-Which condition block do I have to chose to describe that the chart should hit the lower BB (standard deviation=2 and 50 days) ? (I already tried "Indicator crosses signal line" with the BB but thats not right)

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- ago
#1
Hi,

QUOTE:
-Which condition block do I have to chose to describe that the chart should hit the lower BB (standard deviation=2 and 50 days)

I'd say it's "Indicator compare to Indicator" with the following settings:

Indicator 1 = Low
is = less than
Indicator 2 = BBLower

Is this what you had on mind?

QUOTE:
-Which block/move do I have to use that both conditions should be fulfilled in order to buy?

Conditions are automatically ANDed when you drop them onto a Block:
https://www.wealth-lab.com/Discussion/-quot-And-quot-quot-Or-quot-5597
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- ago
#2
@Eugene

Hello Eugene,
thanks for your fast answer.
-So by “Indicator 1= Low” ->So by "low" it means the lowest point of the chart through the day? If yes then "High" means the highest point of the chart through the day?
-If I want to describe that the chart hits the upper BB Band in order to sell I have to do the block like this, right ? :
Indicator 1 = High
is = greater or equal than
Indicator 2 = BBUpper
-Also I have a question regarding the order of my Buy,Short, Sell and Cover blocks: Do they have to have a specific order in which I place them or it doesn’t matter ? F.e:
Buy-Block
….
Short Block

Sell Block
….
Cover Block
…..

-If I want to place a Take-Profit on a Buy or a Short Position as soon as the Chart hits the 50 Moving Average then which blocks do I have to use?

-For a Take-Profit and a Stop-Loss on a Buy order I have to use 2 seperate Sell-at-Market-Open Blocks due to the fact that they are an OR order, right?

Sorry for all these questions and thank you for your time again.
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- ago
#3
QUOTE:
-If I want to describe that the chart hits the upper BB Band in order to sell I have to do the block like this, right ? :
You're right.

QUOTE:
-Also I have a question regarding the order of my Buy,Short, Sell and Cover blocks: Do they have to have a specific order in which I place them or it doesn’t matter ?

Interesting question. I just tried both an "incorrect" and a right order and the code behind is correct. However, some exit signal names were reversed. So I'd recommend you use the "correct" order which is:

Buy-Block
Sell Block
Short Block
Cover Block

QUOTE:
-For a Take-Profit and a Stop-Loss on a Buy order I have to use 2 seperate Sell-at-Market-Open Blocks due to the fact that they are an OR order, right?

Yes.
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