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In MSK
-click Help
-then search for Relative momentum index:parameters:
-then click Relative Momentum Index
-then click Interpretation
scroll down to the bottom:
"Note that a 20,1 parameter RMI is equivalent to a 20-period RSI. This is
because the 1-day momentum parameter is calculating day-to-day price changes,
which the standard RSI does by default. As the momentum parameter is increased,
the oscillation range of the RMI becomes wider and the fluctuations become smoother."
The closest I can find is "double smoothing the standard RSI"
{Relative Momentum Index}
Mov(Mov(RSI(14),5,S),5,S)
{or use 2 or 3 for last period's smoothing}
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying.
Homepage http://home.planet.nl/~anthmaas
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Wilder uses his own form of "exponential" smoothing in his RSI. That is
why the function "Wilders Smoothing" was added to version 6.5 of
MetaStock for Windows 95 & NT. Basically, on day 15 and all subsequent
days, Wilder takes the previous average up close and multiplies it by
13, add today's up close (if any) and divides that value by 14. He does
the same with the average Down close. You then divide the ups by the
downs, add 1.00 to it and divide that into 100 and then subtract that
result from 100. You have the RSI. Note how he uses a value multiplied
by 13 and divides by 14 for a 14 time period RSI.
To match this in a custom formula, you must use the "Wilders Smoothing"
function.
Here is a custom formula to use other than the close in the calculation.
It is posted on our web page.
Custom Relative Strength Index formula (for MetaStock 6.5 only)
This formula will request the price data array to use when plotting. If
you plan to use this in an exploration or system test, be
certain you change the default time periods and price data array
selection to the inputs you wish as the exploration or system
test will not prompt for the input, it will use the default values. For
more information, please review the sections in the
MetaStock 6.5 manual on inputs and variables.
Q:=Input("Time Periods",1,1000,14);
B:=Input("Field: 1=Close, 2=Open, 3=High, 4=Low, 5=Volume",1,5,1);
Z:=If(B=1,Wilders(If(ROC(C,1,$)>0,ROC(C,1,$),0),LastValue(Q)),
If(B=2,Wilders(If(ROC(O,1,$)>0,ROC(O,1,$),0),LastValue(Q)),
If(B=3,Wilders(If(ROC(H,1,$)>0,ROC(H,1,$),0),LastValue(Q)),
If(B=4,Wilders(If(ROC(L,1,$)>0,ROC(L,1,$),0),LastValue(Q)),Wilders(If(RO
C(V,1,$)>0,ROC(V,1,$),0),LastValue(Q))))));
Y:=If(B=1,Wilders(If(ROC(C,1,$)<0,Abs(ROC(C,1,$)),0),LastValue(Q)),
If(B=2,Wilders(If(ROC(O,1,$)<0,Abs(ROC(O,1,$)),0),LastValue(Q)),
If(B=3,Wilders(If(ROC(H,1,$)<0,Abs(ROC(H,1,$)),0),LastValue(Q)),
If(B=4,Wilders(If(ROC(L,1,$)<0,Abs(ROC(L,1,$)),0),LastValue(Q)),Wilders(
If(ROC(V,1,$)<0,Abs(ROC(V,1,$)),0),LastValue(Q))))));
RS:=Z/Y;
100-(100/(1+RS))
Equis Support
http://www.equis.com/
http://www.equis.com/customer/support/
Please include previous email answers and questions in your response.
Equis and MetaStock and MetaStock Professional are registered trademarks
of Equis International. Achelis Binary Wave, The DownLoader, Expert
Advisor, OptionScope, Quotecenter, and Smart Charts are trademarks of
Equis International.
========================================
----- Original Message -----
From: "Owen Davies" <owen@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: donderdag 11 mei 2000 23:03
Subject: Relative Momentum Index
> Does anyone know exactly how this is calculated
> in Metastock? I tried to write it in another (inferior)
> program, where I still have some data files, and
> while the result looked somewhat like the Metastock
> indicator, it was a long way from perfect.
>
> Many thanks,
>
> Owen Davies
>
>
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