Rank: Newbie
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Joined: 11/18/2011(UTC)
Posts: 2
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Hi all, I've been looking into a concept that I wanted to get your assistance coding. Basically I want to write an expert that plots what price is needed to change the current trend direction of an indicator like RSI. If, for example, RSI is trending down between today and yesterday, how much does the price need to increase to turn the indicator into a rising trend. If you increase the close above the high, then the high also has to adjust up. In a current example, the Dow is lower from 11/17 vs 11/16 and an 8 period RSI on 11/17 is 42.9859 vs 48.2504 on 11/16. How much would the Dow need to have risen to bring RSI to greater than or equal to 48.2504. Then I want to plot that above the price as a symbol. Is this possible? Thank you in advance.
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 7/25/2005(UTC)
Posts: 1,042
Was thanked: 57 time(s) in 54 post(s)
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Hi BT
This formula might be of some help.
{RSI Price Lookahead}
{First published as Reverse Engineering RSI}
{by Geogos Silgardos in TASC June 2003}
value:=Input("RSI value", 1, 100,50);
WildPer:=Input("Wilder Time Periods",1,100,14);
ExpPer:=2*WildPer-1;
{Average Up Close}
AUC:=Mov(If(C>Ref(C,-1),C-Ref(C,-1),0),ExpPer,E);
{Average Down Close}
ADC:=Mov(If(Ref(C,-1)>C,Ref(C,-1)-C,0),ExpPer,E);
x:=(WildPer-1)*(ADC*value/(100-value)-AUC);
RevEngRSI:=If(x>=0,C+x,C+x*(100-value)/value);
RevEngRSI;
Roy
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Rank: Newbie
Groups: Registered, Registered Users
Joined: 11/18/2011(UTC)
Posts: 2
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Roy,
Thanks for this code, I created a custom indicator out of it and I'll use this to test some ideas. Do you know if this can be modified for a custom indicator using the p variable too? Thanks,
Michael
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