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>For those who might be interested in the subject:
>
>Like discussed here some weeks before, I have modified the formulas
>for DMI/RSI (provided by Andreas Grau; thanks again) to take into
>account o-h-l data for UP / DOWN calculation, where the data are
>weighted by their age. The results do not provide totally new
>insights, but tend to be smoother without any additional lag.
>
>For those who might be interested in the details, I have prepared an
>Excel file dmi-cohl.xls, which contains the formulas for a DMI or RSI,
>that also can take into account o-h-l, if you want it to do so. The
>formulas are applied to some DAX data (picture included), without any
>smoothing in this case. Open-high/low can be used optionally for the
>UP / DOWN calculation. The results are not adjusted to show any
>"message", but you may play around with the input parameters to see
>the effects.
>
>Please let me know BY EMAIL to rst@xxxxxxxxxxx, if you would like me
>to send to you this Excel file.
Because some asked for additional info on the details:
The Excel formulas for DMI or RSI contain UP / DOWN calculation which
takes also into account open-high-low (beside of close, which is used
in Wilder's original).
o-h-l are used to give a more detailed representation of the momentum,
where weights are used to represent the "age" of the different data.
So, open is seen in the middle between yesterday's and today's close,
and high/low are seen in the middle between open and close, which of
course is only an approximation of reality.
The main effect of the modified UP / DOWN calculation is a more
detailed momentum representation, which may lead to a smoother RSI /
DMI without any additional lag.
mfg rudolf stricker
| Disclaimer: The views of this user are strictly his own.
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