I created a simple system tonight based on just RSI and back tested against ndx, with data from 1985 to today. No optimization was attempted.
Two criterias are:
1) Buy when rsi is less 16
2) close position when rsi crosses back above 25
Results:
-From 1985 to today, the there 57 signals: 46 winners and 11 were losers.
-From 2000 to today, the there 14 signals: 13 winners and 1 loser.
-from 1985 to today, of the 11 losers, only two were more than 10%. The dates of those two trades were 10/16/87 - 10/21/87 and 9/7/2001 – 9/24/2001. The remaining 9 losses average to 2.43% loss, with none more than 4.5%
Just some stats I found interesting….
Market Data 
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