Registered User Joined: 12/7/2005 Posts: 19
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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.
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Worden Trainer
Joined: 10/7/2004 Posts: 65,138
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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.
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