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rothar
Posted : Wednesday, June 26, 2013 3:03:43 PM
Registered User
Joined: 12/7/2005
Posts: 19

How can I generate a custom indicator?  There are 2 indicators I would like to program as follows:

1. A "streak" RSI.  This would do a Wilder RSI calculation on a cumulative list of the number of bars which were higher than the last.  For instance, if a stock closed higher for 3 consecutive bars then was unchanged for 1 bar and finally went down for 2 bars, the list would be as follows: 1 2 3 0 -1 -2.  The number of bars to consider would be selectable.

2. A rank calculation.  Generate a list of bars as %change from previous bar.  Score each bar as

X/N, where X= # of bars < value of this bar, and N= # of bars to use.  N would be selectable.

Thanks for your help.

 

Bruce_L
Posted : Wednesday, June 26, 2013 3:14:09 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

Neither is possible, although your PercentRank calculation with a fixed number of bars (such as 100) is possible.

ConnorsRSI

You would need a different formula for a different number of bars.



-Bruce
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