[EquisMetaStock Group] RSI Calculation

["antoinesax" <kennethmetz@xxxxxx>]

Prior to exploring some variations for RSI, I thought it best to first 
verify my own coding for this indicator in comparison with MetaStock's 
calculation. 

Much to my surprise, the results differed widely when applied to SPY 
(from first data in 1993 through present date). Although generally 
zigging and zagging in the same direction, the two differ 
significantly with ratio (my own code vs MS) varying from around 0.5 
to 1.3.

On the other hand, a spreadsheet version nearly matches MS, suggestion 
a problem in the MS coding. The only difference in the two versions is 
that I used recursive formulas in the spreadsheet to implement the 
EMA, whereas I simply used the Mov(C, N, E) function in MS.

Can someone point out the error in the code shown below?


Thanks,

KM

PS. Please note that the code uses the most logical definition of RSI, 
which is mathematcially equivalent to the standard version using RS 
that was (maybe) computationally simpler three decades ago when this 
indicator was invented...


===========================================

Npds := Input("Periods",1,5000,14);
Chng := C - Ref(C,-1);
Adv := If(Chng>0,Chng,0);
Dec := If(Chng<0,-Chng,0);
AvgAdv := Mov(Adv,Npds,E); 
AvgDec := Mov(Dec,Npds,E); 
RSItest := 100*AvgAdv/(AvgAdv+AvgDec);


RSItest



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