[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Converting the RSI into an Oscillator



PureBytes Links

Trading Reference Links

Instead of using the RSI as an indicator bound by 100 above it and 0 below,
how about using it as a "boundless" oscillator?
---------------------------------------------------------
{Function: RSIOsc}
Input: R(Numeric),S(Numeric);
RSiOsc=XAverage(RSI(C,R)-50,S);
----------------------------------------------------------
{Indicator: RSI Osc}
Input: R(21),S(12),Q(6);
Plot1(RSiOsc(R,S),"Plot1");
Plot2(Xaverage(RSiOsc(R,S),Q),"Plot2");
----------------------------------------------------------
{System: RSI Osc}
Inputs:R(21),S(12),Q(6);
vars: RVal(0),Avg(0);

Rval=RSiOsc(R,S);
Avg=Xaverage(RSiOsc(R,S),Q);

If Rval crosses above Avg then buy on close;
If Rval crosses below Avg then sell on close;
--------------------------------------------------------------


You can do the same thing with the Stochastic. Just replace the RSI with the
SlowK or FastK..whatever you prefer.