Koi_Capital

Unemployment Momentum Model

This model uses a Smoothed RSI to measure the momentum of the Civilian Unemployment Rate             as published by FRED . The behavior of the unemployment rate makes it ideal for applying momentum-based timing techniques because it tends to rise sharply in a short time period and then declines gradually over a longer period. Using other basic momentum-based timing techniques also works well (e.g., EMA crossover, MACD , ROC , etc.)

Please note that you cannot trade the unemployment rate directly. This model is meant to help you understand the state of the current economy in the context of unemployment.
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//@version=2
strategy("Unemployment Momentum Model", overlay=true)

price = close

basis = rsi(price, input(3))
rsiema = ema(basis, input(6))
trigger = input(50)

strategy.risk.allow_entry_in(strategy.direction.long)

if (crossover(rsiema, trigger))
    strategy.entry("RISING", strategy.long, comment="RISING")

if (crossunder(rsiema, trigger))
    strategy.entry("FALLING", strategy.short, comment="FALLING")
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