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LBen
Posted : Monday, June 21, 2010 3:09:26 PM
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Joined: 3/24/2010
Posts: 4
After Larry Connors presentation last Tuesday I read his article on Short term trading. He talks about using a cumulitive RSI where 2 or more Bars of RSIs are added together and charted on the same 0-100 scale as a regulare RSI. I am new here, but it seems like a matter of taking the current RSI formual and adding a summation statement. Could you guide me in the right direction?
Bruce_L
Posted : Monday, June 21, 2010 3:19:29 PM


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Joined: 10/7/2004
Posts: 65,138
If you add together the 2 most recent RSIs, the Value could run from 0 to 200 and if you add together the 3 most recent RSIs, the Value could run from 0 to 300. If you really want the Scale to run from 0 to 100, you would need to Average them instead of Summing them (unless you are allowing the RSI to run off the top of the Scale).

You can add a Moving Average to the RSI by just selecting Add Indicator | Moving Average and choosing the RSI as the Parent. You could change this to Sum by right-clicking on the Moving Average and selecting Edit, selecting Block Diagram and then right-clicking on the Moving Average Block in the Block Diagram and selecting Replace | Sum for Period.

-Bruce
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ctfrombt
Posted : Sunday, June 27, 2010 1:03:02 PM
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Joined: 12/7/2004
Posts: 54
Bruce,
In Active Trader magazine they discuss a Connors approach where they look for 3 consecutive days of lower Wilder RSI(2,1). I've constructed a PCF for this in Telechart. In SF5 do I need to write Real Code for this or is there an easier way?
ctfrombt
Posted : Sunday, June 27, 2010 1:07:09 PM
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Joined: 12/7/2004
Posts: 54
Bruce, No need to answer. Didn't think enough about it. Easy to do using Rate of Change.
ctfrombt
Posted : Sunday, June 27, 2010 8:24:22 PM
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Posts: 54
Bruce,
Another question. How do I reference a past value for Wilder RSI? I'm trying to compare values over the past several days. Do I need to do this in Real Code?
Bruce_L
Posted : Monday, June 28, 2010 9:12:19 AM


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No, you don't need RealCode. If you add a 1-Period Simple Moving Average to the RSI, there should be an Offset setting that can be used to reference past Values. For example, if the Offset is 1, it will return yesterday's Value on a 1-Day Chart.

-Bruce
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ctfrombt
Posted : Monday, June 28, 2010 9:19:08 PM
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Joined: 12/7/2004
Posts: 54
Thanks Bruce, That worked fine. Interesting way to do it. Calculates quickly also.
Bruce_L
Posted : Tuesday, June 29, 2010 8:55:28 AM


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You're welcome.

-Bruce
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