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Registered User
Joined: 2/12/2005
Posts: 28
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Is there anyway to plot RSI with bars similar to histogram with MACD?
I want to show when RSI is over 50 and under 50 by using bars.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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RSI can only be plotted as a line. Keep in mind that plotting as bars or lines does not change the plot or values of the indictator.
- Craig
Here to Help!
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Registered User
Joined: 2/12/2005
Posts: 28
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Thanks... THere was an article in Active Trader by Thom Hartle and the RSI bars were cereated in CQGNet charts.
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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I've not read the article but assuming the math of the indicator was the same but just plotted differently you should still be able to follow whatever the article was teaching. Check to see if it was only the plot style that was changed.
If the article presents an atypical RSI (meaning it was not just the plot style that was changed) share the new formula here. We might be able to plot his RSI variation as a custom indicator. It would still be a line chart but it would still present the same information.
- Craig
Here to Help!
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Registered User
Joined: 2/12/2005
Posts: 28
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RSI = 100 -(100/[1 +RSI]). I think this is regular RSI formula. The chart shows the RSI value plotted as a line above the 50 line or one below the 50 line.If the value of RSI is 65, then the bar is drawn from 50 up to 65 and if the next value is 80, then the bar is drawn from 50 to 80 and if the next value is 40 the the bar is drawn downward from 50 to 40 ,etc. I don't know if that helps. Thanks
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Worden Trainer
Joined: 10/1/2004
Posts: 18,819
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Gotcha...
Again, our line chart will give you same information....
- Craig
Here to Help!
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