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Big,
On Jan.12th in message #28493 this was the indicator that I posted
complete with its instructions:
{TASC APR 2008 METASTOCK: RSI BANDS
François Bertrand's article, "RSI Bands," describes the calculation
and use of these bands. The MetaStock formulas and instructions for
adding it to MetaStock are as follows:
1. In the Tools menu, select Indicator Builder.
2. Click New to open the Indicator Editor for a new indicator.
3. Type the name of the formula: "RSI Bands"
4. Click in the larger window and type in the following formula.
5. Place indicator on price plot:}
topv:=Input("overbought level",1,100,70);
botv:=Input("oversold level",1,100,30);
tp:=Input("RSI Time Periods",1,100,14);
change:= ROC(C,1,$);
Z:=Wilders(If(change>0,change,0),tp);
Y:=Wilders(If(change<0,Abs(change),0),tp);
tx:=(tp-1)*(Y*topv/(100-topv)-Z);
bx:=(tp-1)*(Y*botv/(100-botv)-Z);
tband:=If(tx>0,C+tx,C+tx*(100-topv)/topv);
bband:=If(bx>0,C+bx,C+bx*(100-botv)/botv);
tband; bband; (tband+bband)/2; {end}
Notice that I included a midband which is (tband+bband)/2.
Also notice that the bands are to be placed on a price plot.
The StochRSI is an indicator that should be in its own window.
Unless you rewrite the RSI Bands formula to become a StochRSI Bands
Formula, the StochRSI would never cross the RSI Bands.
Another option is to simply use both formulas as written. You would
therefore look for the close to be either above or below the midband
and have the stochrsi generate either a buy or sell signal.
BTW, the last parenthesis in your StochRSI is not needed.
Hope this helps,
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, "Big Papa"
<denver69692002@xxx> wrote:
>
>
> I have coded the StochRSI as an Indicator:
> (Sum(RSI(10)-LLV(RSI(10),10),3)/Sum(HHV(RSI(10),10)-LLV(RSI
> (10),10),3))*100)
>
> I have also coded the RSI Bands from TASC as an Indicator:
>
> topv:=Input("overbought level",1,100,90);
> botv:=Input("oversold level",1,100,10);
> tp:=Input("RSI Time Periods",1,100,14);
> change:=ROC(C,1,$);
> Z:=Wilders(If(change>0,change,0),tp);
> Y:=Wilders(If(change<0,Abs(change),0),tp);
> tx:=(tp-1)*(Y*topv/(100-topv)-Z);
> bx:=(tp-1)*(Y*botv/(100-botv)-Z);
> tband:=If(tx>0,C+tx,C+tx*(100-topv)/topv);
> bband:=If(bx>0,C+bx,C+bx*(100-botv)/botv);
> tband;
> bband
>
> Now, if I want to create a buy signal when the StochRSI crosses
> below the bottom band of the RSI band, how do I code that?
> Cross(StochRSI formula),(The RSI Band formula?)??
> The expert advisor doesn't like using the RSI Band formula as a buy
> point on its own.
>
> Please help, so close, yet so far. I was able to figure out the
code
> when you do an entry based on the StochRSI and a number, then exit
> out when the close of the stock price penetrated a SEB, but trying
> to code in the exit when the StoRSI penetrates the RSI bands is a
> little trickier.
>
> Thanks,
> Big
>
------------------------------------
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