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Hi Vinod,
TestRSIabove70:=If(RSI(14)>70,C,0);
Peak(1,TestRSIabove70,1)
This will display a price value that changes in steps every time the RSI makes a new peak at any value of RSI>70. The price displayed by the horizontal line will be the price at the time when the RSI peak occurred.
I'm not sure if this is exactly what you want to do, but there could be interesting potential for application of this to something similar to a Darvas-type system for catching uptrend breakout moves, if you trade that way.
I hope this helps you.
Best wishes,
Tony
===============================
----- Original Message ----
From: Vinod K <vinodkochappan@xxxxxxxxx>
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Saturday, April 7, 2007 2:45:25 PM
Subject: Re: [EquisMetaStock Group] Re: ms indicator
Hi Tony M
Thanx a lot for the help.....
But is it possible to make this as a indicator which can b plotted in price chart....,which shud draw a horizondal line(from the high of the 70peak candle) in chart till the next 70peak occurs...... .......(to b more clear it shud draw peaks like if v r plotting Peak(1,c,1) indicator)
Regds....... ......... .Vinod
t4tonym <t4tonym@xxxxxx com> wrote:
Hi Vinodkochappan,
If(RSI(14)>70, 100,0) --- displays value "100" if RSI > 70
If(RSI(14)>70, RSI(14),0) --- displays the actual RSI value if > 70
If(RSI(14)>70, C,0) --- displays the closing price if RSI > 0
(otherwise, if RSI < 70, displays zero)
Cheers,
TonyM in Moscow
============ ========= =
--- In equismetastock@ yahoogroups. com, "vinodkochappan"
<vinodkochappan@ ...> wrote:
>
> Hi,
>
> Can any one help me to make a indicator which can mark peaks if RSI(14)
> > 70
>
> thanx in advance....
>
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