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In working on the Metastock formula for the Reuters' RSI below, I hit a road-block. Maybe someone out there could assist me in working out this formula. Here is what I have so far:
a:=max(c,(ref(c,-13))); b:=max((ref(c,-14)),c); if((mov(c,14,e))*a=0)and(mov(c,14,e)*b=0)=50; or(100*(mov(c,14,e)*a/((mov(c,14,e)*a)+(mov(c,14,e)*b))
I'm using 14 as the default # of periods ( I thought it might make the formula easier to create).
REUTERS FORMULA I AM TRYING TO MIRROR:
up movesi = max (( vi - vi-1),0) down movesi = max (( vi-1 - vi),0)
If ((EMAi (Up moves, n)=0) AND (EMAi (Down moves,n)=0)) then RSIi = 50
Else RSIi = 100 * EMAi (Up moves,n)_____________ (EMAi (Up moves,n)+EMAi (Down moves,n))
Where:
RSIi = Relative Strength Index at i th interval V = Input Data Set vi = value of V at i th interval EMAi (V,n) = Exponential Moving Average of V with period n max (a,b, ... , z) = maximum of a, b, ..., and z
I was using Metastock's formula as a beginning point and tried to make the changes which did seem a good idea, but I was trying to simplify it so it would only calculate for the close (rather than give it a field for high/low/open/close). It seemed a little easier.
Again, thanks for all your help.
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