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Worden Discussion Forum » Customer Training & Support » PCFs, EasyScan and Custom Indicators » Is there a way to calculate an RSI of ROC?

Is there a way to calculate an RSI of ROC? Rate this Topic:
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flan4
Posted : Saturday, January 17, 2009 12:34:06 PM
Registered User
Joined: 3/12/2005
Posts: 123
 Hi,

Is there a way to create a three-period RSI of a one period Rate of Change?  I'm assuming this can be done in the custom indicator platform?  

Thanks,

Joe 
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bustermu
Posted : Sunday, January 18, 2009 11:21:02 AM
Registered User
Joined: 1/1/2005
Posts: 2,645
QUOTE (flan4)
Is there a way to create a three-period RSI of a one period Rate of Change?


Joe,

The RSI3 on C can be written:

50*((C0-C3)/(ABS(C0-C1)+ABS(C1-C2)+ABS(C2-C3)+0.000001)+1)

If we replace each Ck by Ck-C(k+1), we then have RSI3 on ROC1 on C written:

50*((C0-C1-C3+C4)/(ABS(C0-2*C1+C2)+ABS(C1-2*C2+C3)+ABS(C2-2*C3+C4)+0.000001)+1)

Thanks,
Jim Murphy 
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flan4
Posted : Sunday, January 18, 2009 3:48:56 PM
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Joined: 3/12/2005
Posts: 123
 Jim,

Thanks for the help!!  I'll give this a shot.  I haven't used the custom indicator tool yet.  I'll post back when I get it done (hopefully).

Thanks,

Joe
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Tal_E
Posted : Sunday, January 18, 2009 6:14:10 PM


Worden Trainer

Joined: 7/11/2006
Posts: 332
 flan4,

Below you will find instruction for creating a custom indicator.  I hope this helps you out!

Plotting Custom Indicators with Examples

Tal_E
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flan4
Posted : Monday, January 19, 2009 4:57:32 PM
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Joined: 3/12/2005
Posts: 123
 Thanks Jim, all went well.

Thanks Tal for the info.
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Tal_E
Posted : Monday, January 19, 2009 6:07:04 PM


Worden Trainer

Joined: 7/11/2006
Posts: 332
 flan4,

You are welcome!

Tal_E
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