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Help please with coding this indicator. Looked very clean when giving signals in the article !
Slow RSI = 100 - [100/(1 +SRS)]
SRS = Average positive Difference/Average negative Difference
SRSI measures the strength of the stock relative to a 6 day EMA
Where Positive Difference = (Close - EMA6)
Negative Difference = (Close - EMA6) Expressed as a positive value
Thanks
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Rank: Advanced Member
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Hi,
You can try the following formula to see if this meets your criteria:
tp:= 14; { time periods in RSI calculation}
diff:= C-Mov(C,6,E);
Z1:=If(diff>0,diff,0);
Z:=If(Cum(1)=tp,Cum(Z1)/tp,(PREV*(tp-1)+Z1)/tp);
Y1:=If(diff<0,Abs(diff),0);
Y:=If(Cum(1)=tp,Cum(Y1)/tp,(PREV*(tp-1)+Y1)/tp);
temp:=If(Y=0,-1,Y);
If(temp=-1, 100, 100-(100/(1+(Z/temp))))
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