Registered User
Joined: 10/25/2008
Posts: 218
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Hello,
Is there a way to show a custom indicator when the 2 period RSI cumulative over the last 2 trading days is under 30 for example?
I saw under add--cusotm indicator---cumulative but not sure how to apply the method.
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I'm not sure what is meant by a 2-Period RSI cumulative Indicator.
If you are adding RSI values over time to each ether, you could use the Custom Cumulative Indicator. But this doesn't seem like it is what you want because the Value would then be meaningless.
If you mean a 2-Period RSI with Use Wilders Smoothing checked and an Avg Period of 1, you could write a formula for this being less than 30 as:
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 < 30
-Bruce
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Registered User
Joined: 10/25/2008
Posts: 218
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I realize now my question was not clear. I am looking to create and indicator which would show me when the 2 period wilders rsi over the last two days when added together is less than 30.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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That would depend on the exact settings of your RSI:
- RSI Period: 2
- Use Wilders Smoothing: Checked or Unchecked?
- Avg Period: ?
- Average Type: Simple or Exponential (doesn't matter if the Avg Period is 1)?
-Bruce
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Registered User
Joined: 10/25/2008
Posts: 218
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Wilders RSI 2 period with smoothing checked, avg period1 and simlpe.
Looking to get the cumulative total of those numbers after two days of trading.
Thanks
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Sum of 2 most recent 2-Period Wilders Smoothed RSIs < 30:
(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 + 50 * (C1 - XAVGC3.2) / 2 / (.500030519440884 * (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) + .5 * (ABS(C14 - C15)))))))))))))))) + 50) / 2 < 30
-Bruce
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Registered User
Joined: 11/20/2006
Posts: 4
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[QUOTE=Bruce_L]Sum of 2 most recent 2-Period Wilders Smoothed RSIs < 30:
Bruce: I do not believe this formula works correctly. Using "IBM", 2/23/09 has an RSI-2 (Wilder smoothing) value of 2.27, and 43.72 on 2/24/09. The sum is not < 30, yet your Percent True Custom Indicator indictes this is the case. Am I missing something?
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I'd averaged them instead of just adding them. Getting rid of the () / 2 should correct this:
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 + 50 * (C1 - XAVGC3.2) / 2 / (.500030519440884 * (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) + .5 * (ABS(C14 - C15)))))))))))))))) + 50 < 30
-Bruce
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Registered User
Joined: 1/28/2005
Posts: 125
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Nabanco98;
“ I am looking to create and indicator which would show me when the 2 period wilders rsi
over the last two days when added together is less than 30.”
Are you attempting to emulated Larry Connors “Cumulative RSI“?
ejr39
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Registered User
Joined: 1/28/2005
Posts: 125
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Nabanco98;
Larry Connors “Cumulative RSI“
PCF Name: Cumm RSI
(RSI2.1 + RSI2.1.1)
Create an EasyScan WatchList of only those stocks YOU would actually buy long
Example: (Buy Long) Prequalified Stocks WL
WatchList to Scan: Common Stocks
[Add Condition]s
. Price Per Share (affordable)
__ adjust Range Selector VALUE ... 5 to 25
. Price vs. 200-dma (> 200-dma are the Bullish Buy Phases)
___ adjust Range Selector VALUE ... 99 to MAX
. Volume 90-day (liquidity)
__ adjust Range Selector VALUE ... 2500 to Max
. Volume 1-day (still alive?)
__ adjust Range Selector VALUE ... 1000 to Max
. PerCent Shares held by Institutions
__ adjust Range Selector VALUE ... 1 to Max
Save. Name IF new EasyScan.
Note: Adjust Price and Volume Sort Values to fit YOUR style and the current market.
On the Main Chart Screen
. WatchList: (Buy Long) Prequalified Stocks WL
. Sorted by: Cumm RSI(2)
... Sorted by Tab #n
____ Column 1 heading: Symbol
____ Column 2 heading: Sort Value
Edit Chart Template #n
Top Window
. Prices - Open Bar Chart or CandleStick Chart
____ Draw Color: Green (for Money)
... Moving Average - 200 bars - Simple
____ Draw Color: Red
____ Draw Style: Dot
Middle or Bottom Window
. Custom Indicator
____ Draw Color: Aqua
____ Draw Style: Normal
____ Check: Visible
____ UNCheck: Center Zero Line
____ UnCheck: Plot using price scale
____ Smoothing Average: 1 Simple
____ Indicator Formula: [CummRSI] RSI2.1 + RSI2.1.1
_ Left mouse click on the Column 2 heading until the column values are seen from low to high
_ Left mouse click on each Symbol with a Sort Value of 30 or less - OVERSOLD
View the other options:
_ Left mouse click on each Symbol with a Sort Value above 65 - SELL Signal
_ Left mouse click on each Symbol with a Sort Value above 70 - OVERSOLD
Notes:
. The 2 period Wilder’s RSI has no moving average; so the simple and EMA
calculations have the same sort values.
. Ignore the window’s horizontal lines - the lines are worthless for the Cumm
RSI. Refer to the numeric values in Column 2.
. View the bigger picture, use numeric Sort Values. Looking at equities with
True Sort Values is like wearing blinders - you can miss really good trades
by less than 1 cent.
Keep It Simple and Succinct (KISS), Larry Conner’s trading ‘rules’ require
only the simplest of formulas.
ejr39
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Registered User
Joined: 10/7/2004
Posts: 794
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how might I write a RSI2 crossing its own 2ema up and down
and (XAvgC3) - (XAvgC13) crossing its own ema2 three days in a row?
I don't see benefit of Wilder's smooth so I am simply looking for RSI2.
Thank you in advance!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Quiktdr,
Unsmoothed RSI2 xUp its own EMA2:
RSI2 > XAVG(RSI2,2) AND RSI2.1 <= XAVG(RSI2.1,2)
Unsmoothed RSI2 xDn its own EMA2:
RSI2 < XAVG(RSI2,2) AND RSI2.1 >= XAVG(RSI2.1,2)
Unsmoothed RSI2 crossing its own EMA2 (either direction):
SGN(RSI2 - XAVG(RSI2,2)) <> SGN(RSI2.1 - XAVG(RSI2.1,2))
(XAvgC3) - (XAvgC13) crossing its own ema2 three days in a row:
SGN(XAVGC3 - XAVGC13 - XAVG(XAVGC3,2) + XAVG(XAVGC13,2)) <> SGN(XAVGC3.1 - XAVGC13.1 - XAVG(XAVGC3.1,2) + XAVG(XAVGC13.1,2)) AND SGN(XAVGC3.1 - XAVGC13.1 - XAVG(XAVGC3.1,2) + XAVG(XAVGC13.1,2)) <> SGN(XAVGC3.2 - XAVGC13.2 - XAVG(XAVGC3.2,2) + XAVG(XAVGC13.2,2)) AND SGN(XAVGC3.2 - XAVGC13.2 - XAVG(XAVGC3.2,2) + XAVG(XAVGC13.2,2)) <> SGN(XAVGC3.3 - XAVGC13.3 - XAVG(XAVGC3.3,2) + XAVG(XAVGC13.3,2))
You may wish to review the following:
Understanding MACD
-Bruce
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Registered User
Joined: 10/7/2004
Posts: 794
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THANK YOU, BRUCE
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Quiktdr,
You're welcome.
-Bruce
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Registered User
Joined: 10/7/2004
Posts: 794
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This was my attempt, what is the difference, XAVG(RSI2,2) > XAVG(RSI2.2,2) AND XAVG(RSI2.1.1,2) <= XAVG(RSI2.2.1,2)
Thank you in advance!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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Quiktdr,
My versions would be for an RSI with the following settings crossing through its own 2-Period Exponential Moving Average:
- RSI Period: 2
- Use Wilders Smoothing: Unchecked
- Avg Period: 1
- Average Type: Doesn't matter (because the Avg Period is 1)
Your version would be for an RSI with the following settings crossing up through its own 2-Period Simple Moving Average:
- RSI Period: 2
- Use Wilders Smoothing: Unchecked
- Avg Period: 2
- Average Type: Exponential
The reason is that the RSI2.2 is a 2-Period Simple Moving Average of the otherwise unsmoothed RSI. The syntax that is generally useful in constructing RSI formulas follows:
Indicator:
RSIx.y.z -> RSI (not Wilder's Smoothed)
Functions:
AVG(w,x) -> Simple Moving Average
XAVG(w,x) -> Exponential moving Average
Where w is the Number or Indicator to which a Function is applied.
- w cannot be a formula or function for AVG() or XAVG()
Where x is the Period of the Indicator or Function.
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 indicators are separated by periods while the arguments in functions are separated by commas.
-Bruce
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