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It is obvious that te same results come from the comparison of the
individual and MeanRSI plots
Plot(Foreign("~SUMRSI","C")/Foreign("~Count","V"),"MeanRSI",4,4);
Plot(RSI(),"RSI",1,8);
Siligardos method give an easy visual approach directly on the price
chart.
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, "Dimitris Tsokakis" <TSOKAKIS@xxxx>
wrote:
> We usually read at
> http://finance.yahoo.com/mrd or
> http://finance.yahoo.com/mru
> that stock XXXX outperforms or underperforms the market.
> Siligardos method
[http://www.traders.com/Documentation/FEEDbk_docs/Abstracts_new/Siliga
rdos/siligardos.html]
> may give a simple visual criterion to have our own quick estimate.
> If we take Value=RSI() we will have a RErsi identical to close
graph for each stock.
>
> Plot( Close, "CLOSE" , 1, 8);
> Value=RSI();
> WildPer = 14;ExpPer = 2 * WildPer - 1;
> AUC = EMA( Max( C - Ref( C, -1 ), 0 ), ExpPer );
> ADC = EMA( Max( Ref( C, -1 ) - C, 0 ), ExpPer );
> x = (WildPer - 1) * ( ADC * Value / (100-Value) - AUC);
> RevEngRSI = IIf( x >= 0, C + x, C + x * (100-Value)/Value );
> Plot( RevEngRSI,"Reverse Eng. RSI( "+WriteVal(Value, 1.0)+" )",4,4);
>
> If we replace it with Value=MeanRSI, ie the average RSI() of the
market, we may easily compare how the stock performs the market.
> The red graph is the virtual Close, if the stock was aligned with
the market.
> The stock outperforms the market when the black line is higher than
the red and underperforms the market when the black line is lower.
> Dimitris Tsokakis
> PS: For the technical part, create first the MeanRSI, scanning your
database with
> AddToComposite(RSI(),"~SUMRSI","C");
> AddToComposite(1,"~COUNT","V");
> Buy=0;
> and then past in your IB the
> Plot( Close, "CLOSE" , 1, 8);
> Value=Foreign("~SUMRSI","C")/Foreign("~Count","V");
> WildPer = 14;ExpPer = 2 * WildPer - 1;
> AUC = EMA( Max( C - Ref( C, -1 ), 0 ), ExpPer );
> ADC = EMA( Max( Ref( C, -1 ) - C, 0 ), ExpPer );
> x = (WildPer - 1) * ( ADC * Value / (100-Value) - AUC);
> RevEngRSI = IIf( x >= 0, C + x, C + x * (100-Value)/Value );
> Plot( RevEngRSI,"Reverse Eng. RSI( "+WriteVal(Value, 1.0)+" )",4,4);
> We may see at a glance that DELL outperforms the market from A to B
and then underperforms the market from B to C.
> Dimitris Tsokakis
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