Registered User Joined: 1/7/2006 Posts: 6
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Thanks ahead of time....Many books/topics are now discussing the power of the RSI 2...is it possible to do a screen for stocks moving up from oversold or down from overbought RSI readings...was looking for a one or 2 day move up/down to give some confirmation..that security is moving away from RSI overbought/sold condition....Thanks
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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A Wilder's Smoothed RSI will move up when price moves up and move down when price moves down. So if you wanted to check that RSI has moved down, you can just write:
C < C1
Moving down for 2-bars in a row is just:
C < C1 AND C1 < C2
Checking for one or two days:
C < C1 OR (C < C1 AND C1 < C2)
Is just the same as checking for 1 day:
C < C1
Since you want this to be happening from an "overbought" condition, we would need to check for Wilder's RSI to be greater than 70 during at least one of the two previous bars:
C < C1 AND (50 * (C1 - XAVGC3.2) / 2 / (.5000305 * (ABS(C1 - C2) + .5 * (ABS(C2 - C3) + .5 * (ABS(C3 - C4) + .5 * (ABS(C4 - C5) + .5 * (ABS(C5 - C6) + .5 * (ABS(C6 - C7) + .5 * (ABS(C7 - C8) + .5 * (ABS(C8 - C9) + .5 * (ABS(C9 - C10) + .5 * (ABS(C10 - C11) + .5 * (ABS(C11 - C12) + .5 * (ABS(C12 - C13) + .5 * (ABS(C13 - C14) + .5 * (ABS(C14 - C15)))))))))))))))) + 50 > 70 OR 50 * (C2 - XAVGC3.3) / 2 / (.5000305 * (ABS(C2 - C3) + .5 * (ABS(C3 - C4) + .5 * (ABS(C4 - C5) + .5 * (ABS(C5 - C6) + .5 * (ABS(C6 - C7) + .5 * (ABS(C7 - C8) + .5 * (ABS(C8 - C9) + .5 * (ABS(C9 - C10) + .5 * (ABS(C10 - C11) + .5 * (ABS(C11 - C12) + .5 * (ABS(C12 - C13) + .5 * (ABS(C13 - C14) + .5 * (ABS(C14 - C15) + .5 * (ABS(C15 - C16)))))))))))))))) + 50 > 70)
Moving up from less than 30 just involves reversing the < and > signs and replacing 70 with 30:
C > C1 AND (50 * (C1 - XAVGC3.2) / 2 / (.5000305 * (ABS(C1 - C2) + .5 * (ABS(C2 - C3) + .5 * (ABS(C3 - C4) + .5 * (ABS(C4 - C5) + .5 * (ABS(C5 - C6) + .5 * (ABS(C6 - C7) + .5 * (ABS(C7 - C8) + .5 * (ABS(C8 - C9) + .5 * (ABS(C9 - C10) + .5 * (ABS(C10 - C11) + .5 * (ABS(C11 - C12) + .5 * (ABS(C12 - C13) + .5 * (ABS(C13 - C14) + .5 * (ABS(C14 - C15)))))))))))))))) + 50 < 30 OR 50 * (C2 - XAVGC3.3) / 2 / (.5000305 * (ABS(C2 - C3) + .5 * (ABS(C3 - C4) + .5 * (ABS(C4 - C5) + .5 * (ABS(C5 - C6) + .5 * (ABS(C6 - C7) + .5 * (ABS(C7 - C8) + .5 * (ABS(C8 - C9) + .5 * (ABS(C9 - C10) + .5 * (ABS(C10 - C11) + .5 * (ABS(C11 - C12) + .5 * (ABS(C12 - C13) + .5 * (ABS(C13 - C14) + .5 * (ABS(C14 - C15) + .5 * (ABS(C15 - C16)))))))))))))))) + 50 < 30)
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