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Mike
Here is how the MS RSI is calculated,
{RSI Indicator}
A:=Input("RSI periods",2,50,10);
B:=CLOSE; {RSI target array}
U:=Wilders(If(B>Ref(B,-1),B-Ref(B,-1),0),A);
D:=Wilders(If(B<Ref(B,-1),Ref(B,-1)-B,0),A);
100-(100/(1+(U/D)));
and here is Wilders Smoothing, with first bar seeding added for greater
initial accuracy.
{Wilders Smoothing}
A:=Input("Periods",3,99,10);
B:=P; {Wilders Smoothing target array}
R:=1/A;
X:=If(Cum(1)=1,B,PREV*(1-R)+B*R);
X;
You can check the User Manual to verify how RSI is constructed in MS. If
this construction is correct according to the author (Wilder) I struggle to
see how MS can come up with the wrong answer. You've aroused my curiosity
with this one and I'm going to have a closer look to see where the problem
lies, if problem there is. I can understand your concern about accuracy when
different packages give different results but I'm not sure how you arrive at
the conclusion that MS is at fault. Do you have the Bourse method of
constructing RSI I wonder?
Roy
----- Original Message -----
From: "Mike Slattery" <worthydad@xxxxxxxxxxx>
To: <equismetastock@xxxxxxxxxxxxxxx>
Sent: Saturday, January 25, 2003 3:58 PM
Subject: Re: [EquisMetaStock Group] correct method of calculating RSI
> Preston
> I have attached an excel spreadsheet and 2 gif files showing the problem I
> am having with RSI(10) calculations.
>
> Bourse 5.0.0.18 gives 74.11459127
> Metastock 7.02 gives 79.16034833
>
> for ORG, (Origin energy) for 27/8/2001.
>
> If you look at the calculations for 22/8 and 23/8 you will see where the
> differences arise.
> Bourse uses the previous day's running totals where there is no difference
> between the successive day's closing prices.
> Metastock multiplies the total by 9, adds the difference, in this case
zero.
> This has the effect of changing the subtotal, which is then divided by 10.
> The 10% discrepancy results in significant differences in RSI values.
> On 23/8/01 the difference in RSI(10) is small, 0.14, whereas 2 days later
> the difference is significant.
> I would like to be able to use the bourse method of calculation to derive
my
> RSI figures but to do it in Metastock. I am exploring RSI crossovers and
> need correct values. You cannot do this sort of work in Bourse except
> visually one stock at a time. I need much more data to go on.
> I have no idea of how to do this as I have no experience in programming
> Metastock language.
> Is there a plugin that gives the correct RSI value in Metastock?
> I would appreciate any help with this problem.
>
> Regards
>
> Mike Slattery
>
>
>
>
>
>
>
> >From: pumrysh <no_reply@xxxxxxxxxxxxxxx>
> >Reply-To: equismetastock@xxxxxxxxxxxxxxx
> >To: equismetastock@xxxxxxxxxxxxxxx
> >Subject: [EquisMetaStock Group] correct method of calculating RSI
> >Date: Fri, 24 Jan 2003 03:12:29 -0000
> >
> >Mike,
> >
> >The incorrect results that you obtain may not be caused by a
> >calculation error. All of the methods for calulating a RSI that I am
> >aware of do ignore days that have no price movement.
> >
> >If you can detail your problem maybe we can find a solution.
> >
> >Preston
> >
> >
> >--- In equismetastock@xxxxxxxxxxxxxxx, "Mike Slattery"
> ><worthydad@xxxx> wrote:
> > > Does anyone have the correct method of calculating RSI. The built
> >in method
> > > gives incorrect results because it does not ignore days where there
> >is no
> > > price movement.
> >
> >
>
>
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