Betting based on Welles Wilder's Relative Strength Index MarketFeeder Pro - Bot BetFair Scommesse - attivato automatizzato delle scommesse software

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For version 6.0 or higher!

Trigger updated.

This trigger example was kindly developed and suggested by our customer and a long-term MF Pro user, David Gilbertson.
We are re-typing his comments here. The file is practically the same that the one David originally sent. We took his permission to optimise certain parts of the triggers to make them look simpler.

If you would like to suggest a trigger example, please email support@marketfeederpro.com, or start a topic at our online forum.

Right-click here to download the trigger file.

It combines several aspects. It is a trading trigger that concentrates on the favourite. It is based on Welles Wilder's Relative Strength Index (RSI) which he developed for the stock market a long time ago but it can be used in high volume betting markets. Wilder's index looks at price movements over a defined period (in this case 7 mins). It attempts to identify extreme, over-bought or over-sold conditions judged by price movements.
Generally, if the index is over 80, the market is over-bought and if it under 20, the market is over-sold.

In the betting market context, the objective is to lay-low and back-high, ie lay where the price of a horse or greyhound has gone down a lot over 7 mins and back when the price has gone up a lot over the same period.

I have added a weight-of-money trigger to add support to the Relative Strength Index's prediction that the market is about to turn. There are also protective triggers to identify efficient markets, relating to the market's back book percentage, the market volume and the number of ticks between the favourite's back and lay prices.

It also combines universal loss recoupment and stop-loss/green-up triggers.
The green-up is set at 3% and the stop-loss at 10%. Naturally, these parameters can be adjusted. There is also a time stop-loss trigger if the time before the off is less than 15 seconds.

The RSI is calculated every 15 secs which can put some pressure on memory usage.

The monitoring options should be set for monitoring to commence at least 7 mins before the off.

As with all loss recoupment, there is a question of at what level (if any) to put in a circuit breaker. I have set it at "500" in whatever currency the trader is using. Naturally, this can be changed or removed.

We recommend that you try the triggers in Test Mode first, probably by turning on "Download results from BetFair wherever possible", like we did it.

The betting is based on the RSI index, so it makes sense to keep an eye on it while running the triggers. Open the "View Variables" window and type in "RSI" to see what this variable is currently equal to for the market that is selected at the moment.

Recommended settings for this trigger example:

General Options

Delete finished events automatically - turned off

Monitoring Options

Start monitoring events at ... mins before the beginning - turned on and set to "8"

Stop monitoring events at ... mins after the beginning - turned off

Test Mode Options

Download results from BetFair wherever possible and settle markets automatically - turned on

Settle finished markets automatically - turned off

Share your opinion about this trigger example in comments to this article.

commenti:

bamthwok @ Tue, 25 Aug 2009 17:07 GMT
Mmmh, nice function and I have not testes the trigger yet. However, from my knowledge RSI is always a value between 0 and 100. In your above sample, RSI reads 145.4. Something wrong here?
Feeder @ Tue, 25 Aug 2009 20:48 GMT
Bamthwok, good question. I will forward it to David and hopefully will get his reply on this.
User 3712 @ Thu, 01 Jan 1970 00:00 GMT
The Wilder RSI can operate between limits other than 0 to 100 depending on the nature of the markets. The RSI can peak to high values unless it is made to saturate at the limits set.
Nelly @ Wed, 26 Aug 2009 20:43 GMT
Monitoring should be set to 7 minutes minimum in text, but reccomended settings say 5 minutes? Which one is better? Looks like it will take me a while to understand this properly though LOL - Will give it a whirl in test mode - Excellent Work !
Feeder @ Thu, 27 Aug 2009 11:04 GMT
David has updated the file. Why don't we discuss these triggers on the forum?
alfaman @ Sat, 29 Aug 2009 06:04 GMT
This uses the variable "current_loss" in trigger "Lay low RSI". I cannot find reference toothis function in the manual - does it exist ?
alfaman @ Sat, 29 Aug 2009 06:19 GMT
Ignore that comment - spotted it now - but I can't see where thew value of "RSIdivisor2" is used after it is calculated ?
Feeder @ Sun, 30 Aug 2009 10:47 GMT
Alfaman, it's used for the calculation of RSI variable. The calculation had to be split in order to avoid the "division by zero" error.
Andy @ Fri, 04 Sep 2009 09:07 GMT
If I want this to follow the top 3-4 selections should I just change "Favourite" to something else?
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