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Registered User
Joined: 5/11/2007
Posts: 19
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Hi
I am trying to implement this and dont see how to do it.
1) I have a rate of change of price (1 period) plotted on the middle pane
2) Now I want to plot a RSI (lets say 5 period) of the previous rate of change of price ... cant seem to do it as the only options for that rate of change line is moving average, enveloppe channel, linear regression etc...
Is the only way to do it a custom indicator ? and if yes how do I refer to the rate of change of price in the formula for the RSI going into the custom indicator ?
Thanks for your help
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Registered User
Joined: 5/11/2007
Posts: 19
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Hi
Its ok for this. I found out how to solve my problem via another way. If you ever find out how to do it with TC it will be interesting to know but I'll go with my alternate way for now.
Thanks
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Registered User
Joined: 1/1/2005
Posts: 2,645
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qew,
RSI5 of PROC1 minus 50:
(-100)
*((C0-2*C1+C2>0)*(C0-2*C1+C2)
+(C1-2*C2+C3>0)*(C1-2*C2+C3)
+(C2-2*C3+C4>0)*(C2-2*C3+C4)
+(C3-2*C4+C5>0)*(C3-2*C4+C5)
+(C4-2*C5+C6>0)*(C4-2*C5+C6))
/(ABS(C0-2*C1+C2)
+ABS(C1-2*C2+C3)
+ABS(C2-2*C3+C4)
+ABS(C3-2*C4+C5)
+ABS(C4-2*C5+C6)+0.000001)
-50
Please plot the above as a Custom Indicator with "Zero Center Line" checked. If you draw a center line, say by plotting a TSV invisible, it will be the RSI = 50 line.
The above does not use Wilder Smoothing.
Thanks,
Jim Murphy
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Registered User
Joined: 10/7/2004
Posts: 2
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QUOTE (bustermu) qew,
RSI5 of PROC1 minus 50:
(-100)
*((C0-2*C1+C2>0)*(C0-2*C1+C2)
+(C1-2*C2+C3>0)*(C1-2*C2+C3)
+(C2-2*C3+C4>0)*(C2-2*C3+C4)
+(C3-2*C4+C5>0)*(C3-2*C4+C5)
+(C4-2*C5+C6>0)*(C4-2*C5+C6))
/(ABS(C0-2*C1+C2)
+ABS(C1-2*C2+C3)
+ABS(C2-2*C3+C4)
+ABS(C3-2*C4+C5)
+ABS(C4-2*C5+C6)+0.000001)
-50
Please plot the above as a Custom Indicator with "Zero Center Line" checked. If you draw a center line, say by plotting a TSV invisible, it will be the RSI = 50 line.
The above does not use Wilder Smoothing.
Thanks,
Jim Murphy
Hope it is OK to bump this old thread. How would the formula change for an 3 period RSI of a 1 day ROC? I adjusted it myself but it does not seem correct.
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Stack,
You would remove components of both the numerator and denominator that start with C3 and C4:
(-100)
*((C0-2*C1+C2>0)*(C0-2*C1+C2)
+(C1-2*C2+C3>0)*(C1-2*C2+C3)
+(C2-2*C3+C4>0)*(C2-2*C3+C4))
/(ABS(C0-2*C1+C2)
+ABS(C1-2*C2+C3)
+ABS(C2-2*C3+C4)+0.000001)
-50
You may wish to review the following:
Plotting Custom Indicators with Examples
PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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