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Registered User Joined: 5/8/2005 Posts: 36
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Hi,
I am trying to create pcf for RSI 2 period is less than 10. Just want to know whether RSI2 < 10 is the correct syntax.
And I also want to know how Can I plot RSI 2 period on the chart.
Thank You.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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You can Plot RSI on the chart by adding the Wilder's RSI Indicator.
Adding, removing and saving indicators to a chart template
Your formula would be correct when compared to a charted RSI with the following settings:
RSI Period: 2
Use Wilders Smoothing: Unchecked
Avg Period: 1
Average Type: Doesn't matter (because the Avg Period is 1)
Adjusting these setting would require adjusting the formula if you wanted it to match the chart. You may wish to review the following:
PCF Formula Descriptions
How to create a Personal Criteria Forumula (PCF)
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 5/8/2005 Posts: 36
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Hi Bruce,
I don't want to check the Wilder's Smoothing. If I use RSI2 <= 10 in the scan I see some stocks whose RSI is greater than 10 and also the same with RSI2>=95. For some reason it is not matching with the charts I see.
Any help would be greatly appreciated.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Please provide some example symbols with values. The Personal Criteria Formula matches the chart on my computer.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 5/8/2005 Posts: 36
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Hi Bruce,
I am sorry, I checked the Wilders Smoothing Box.
RSI Period -2
Checked the Wilders Smoothing
Average Period - 1
Average Type - Simple.
Created a PCF for RSI2>= 95. Then I ran a scan for stocks where RSI2 >= 95 but some stocks showed up in the scan. For example SI whose RSI2 =71.08 in Stockcharts.com and I see the same in Telechart too though it does not display the value but for some reason it showed up in the scan.
I don't know why. Appreciate your help.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Changing a setting changes the Chart but it doesn't change the results of the Personal Criteria Formula. So when you have a chart that uses Wilder's Smoothing and a formula that does not use Wilders Smoothing the Chart and PCF will not match. You would need to uncheck Wilder's Smoothing to see results that match your formula.
One way to write a formula for a 2-Period Wilder's Smoothed RSI would be:
50 * (C - XAVGC3.1) / 2 / (.500030519440884 * (ABS(C - C1) + .5 * (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)))))))))))))))) + 50
You can view the values of the RSI by moving it to the top Pane of the Chart and bringing up the Pointer Mode Data Box (by selecting the Period Key (.) on your keyboard twice).
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 12/30/2004 Posts: 38
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Bruce: A while ago you gave me the formula for the 2-period wilder's smoothed wilder's rsi based upon yesterday's close. I have tried unsuccessfully to adapt it to current day's close. I have seen a couple of different versions, but yours looks like a simplified version which would calculate more quickly. Could you modify your "one day ago" formula to the present day for me?
Thanks.
Mark
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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msr,
The formula in my Friday, March 28, 2008 7:53:17 AM ET post is the formula for the current 2-Period Wilder's Smoothed RSI.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 10/16/2007 Posts: 3
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I think there may be some confusion surrounding RSI vs. Wilder's RSI. If you are referring to the 2 Day RSI that people are talking about as a change from the traditional 14 day RSI then what they are actually referring to is is Wilder's RSI.
The simple way to do this is to create a PCF using the RSI in the formula builder. RSI2.1 > 98 ( I use 98 because it has a better chance of being down 5 days later) I then create an Easy Scan using this formula as well as other criteria like Price Per Share > $5.00 and Volume 90 Day (value 3000+). Using RSI2.1 > 98 returns tons of stocks simply because this formula is actually incorrect because without Wilder's smoothing stocks tend to = RSI 100 all the time.
SO.... Once I have created my Easy Scan I then add an indicator to my chart , THe indicator is WIlder's RSI 2 day avg 1 with "Use Wilder's Smoothing" Checked. I run my easy scan then I sort based on the Indicator Wilder's RSI (using Visual Value or Actual value) this will give you the sort values = to the RSI value. Sorted from highest to lowest the top values should be the ones closer to the 95-99 range.
I also plot an 11 day moving average as a product of Wilder's and then a 5 day ROC as a product of the 11 day moving average this shows some interesting entry points. Be careful with 2 Day RSI because I have been using it and it is awesome but it cost me because you need to enter at the right time and many a time RSI 2 can reach 95 and continue to inch up all the way to 99.99 over the next 5-7 days WHILE the stock moves up. The 11 day MAVG and 5 day ROC show me the entry points. If you need more info here is my email address (email removed by moderator)
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Registered User Joined: 1/31/2007 Posts: 10
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Hi, I would like to know is there a way to modify the wilders rsi 2 pcf from your March 28, 2008 post ?To show the high of the day value, and one to show the low of the day value ? Instead of just the close value. Of the rsi. Thanks
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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Barc1169,
The Personal Criteria Formula version of RSI is not Wilder's Smoothed):
RSIx.y.z -> RSI (not Wilder's Smoothed)
Where x is the Period of the RSI.
Where y is a the Period of an additional Simple Moving Average.
Where z is the number of Periods Ago.
- z can also be a date. May 3, 2007 would be (single quotes required): '05/03/07'
The arguments in the PCF version of RSI are separated by periods.
A PCF for a 2-Period Wilder's Smoothed RSI being greater than 98 would be:
50 * (C - XAVGC3.1) / 2 / (.500030519440884 * (ABS(C - C1) + .5 * (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)))))))))))))))) + 50 > 98
Not:
RSI2.1 > 98
21dful,
Do you want an RSI based entirely on the Highs and an RSI based entirely on the Lows, or do you want the Maximum and Minimum value that the RSI reached during the day?
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 1/31/2007 Posts: 10
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One that will show the max of the day. One that will show the min. of the day. Thanks
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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21dful:
Value of 2-Period Wilder's Smoothed RSI when Price was at its High for the day:
50 * (H - XAVGC3.1) / 2 / (.500030519440884 * (ABS(H - C1) + .5 * (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)))))))))))))))) + 50
Value of 2-Period Wilder's Smoothed RSI when Price was at its Low for the day:
50 * (L - XAVGC3.1) / 2 / (.500030519440884 * (ABS(L - C1) + .5 * (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)))))))))))))))) + 50
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 1/31/2007 Posts: 10
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Thank you very much Bruce
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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21dful,
You're welcome.
-Bruce Personal Criteria Formulas TC2000 Support Articles
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Registered User Joined: 5/14/2006 Posts: 42
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QUOTE (Barc1169) I think there may be some confusion surrounding RSI vs. Wilder's RSI. If you are referring to the 2 Day RSI that people are talking about as a change from the traditional 14 day RSI then what they are actually referring to is is Wilder's RSI.
The simple way to do this is to create a PCF using the RSI in the formula builder. RSI2.1 > 98 ( I use 98 because it has a better chance of being down 5 days later) I then create an Easy Scan using this formula as well as other criteria like Price Per Share > $5.00 and Volume 90 Day (value 3000+). Using RSI2.1 > 98 returns tons of stocks simply because this formula is actually incorrect because without Wilder's smoothing stocks tend to = RSI 100 all the time.
SO.... Once I have created my Easy Scan I then add an indicator to my chart , THe indicator is WIlder's RSI 2 day avg 1 with "Use Wilder's Smoothing" Checked. I run my easy scan then I sort based on the Indicator Wilder's RSI (using Visual Value or Actual value) this will give you the sort values = to the RSI value. Sorted from highest to lowest the top values should be the ones closer to the 95-99 range.
I also plot an 11 day moving average as a product of Wilder's and then a 5 day ROC as a product of the 11 day moving average this shows some interesting entry points. Be careful with 2 Day RSI because I have been using it and it is awesome but it cost me because you need to enter at the right time and many a time RSI 2 can reach 95 and continue to inch up all the way to 99.99 over the next 5-7 days WHILE the stock moves up. The 11 day MAVG and 5 day ROC show me the entry points. If you need more info here is my email address (email removed by moderator)
BARC1169 I would be interested in hearing more about how you are using the 11 ma and the 5 ROC for timing your entries
Thanks...Terry
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