[EquisMetaStock Group] Re: Indicator histogram

[pumrysh <no_reply@xxxxxxxxxxxxxxx>]

Fernando,

Seems we had a discussion similar to this back in March of this year.
There is a universal indicator that we can use to solve our problem. 
Let's first define our problem though. 

The indicator we will use is:

{Up/Down Histogram}
X:={your indicator here};
Up:=If(X>0,X,0);
Dwn:=If(X<0,X,0);
Up; Dwn;

Notice in the Up/Down that there are two important items that we need 
to deal with if we are going to use the RSI as our indicator. 

First, the RSI does not oscillate above and below zero. It simply 
moves from 0 to 100.

Second, we must determine a midpoint. It appears that you have 
already determined that 50 is our midpopint.

We can resolve the problem then in two different ways. One would be 
to maintain the indicator as it is and let it oscillate above and 
below 50. In which case our indicator would be:

{Up/Down Histogram}
X:=RSI(5){your indicator here};
Up:=If(X>50,X,0);
Dwn:=If(X<50,X,0);
Up; Dwn;

The other solution would be to rescale the RSI so that it oscillates 
above and below 50. We do this by simply subtracting 50 from its 
original value. Then apply the Up/Down indicator. Like this:

{Up/Down Histogram}
X:=RSI(5)-50{your indicator here};
Up:=If(X>0,X,0);
Dwn:=If(X<0,X,0);
Up; Dwn;


Hope this helps,

Preston








--- In equismetastock@xxxxxxxxxxxxxxx, "Fernando Santos" 
<ptc_man3@xxx> wrote:
>
> Hi.
> 
> I'd like to know if its possible to create an histogram from any 
> indicator.
> 
> Imagine that we have an indicator measured between 0 and 100. Lets 
take 
> the RSI. Can we put him like and histogram?
> 
> I tried this:
> 
> If(RSI(5)>50,RSI(5),50);
> If(RSI(5)<50,RSI(5),50)
> 
> but naturally that this didn't work.
> 
> Any thoughts?
> 
> Regards
> Fernando
>



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