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Topic: How to do RSI function of a ROC of price indicator
Posted: Friday, November 23, 2007 8:40:36 PM
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