As the RSI is an oscillator with a valuve between 0 and 100 Is it possible to count the number of days that a certain value, such as 70 would return an indicator of the number of days.

If RSI 14 has a value of greater than 70 what is the accumulated consecutive day count = say 15.

My hope then just by looking at the day counts on a large watch list I would easily find the strongest stocks

Thanks Bruce for you help

We can use the techniques described in the Days Since Last Peak (or other day-counting needs) topic if the RSI is the plain RSI indicator without Wilder's smoothing, but anything similar for the Wilder's smoothed vesion would be way too long to actually create.

buffalobill

You could also create RSI>70 percent true indicator.

Put a 15 period simple moving average on it.

Put the average in a watchlist column and sort.

The highest values have the most RSI>70.

With a PCF in this format:

ABS(RSI>70)*15

the average would give the actual count of days.

Thanks

Actually that would give you the number of bars returning true during those 15 bars. If the result was 5, you would have no idea if those 5 bars are consecutive or not.

This is true as long as the value is less than 15. The only time you would know the number of bars is consecutive if it were actually the largest possible value (in this case 15).