bdog,
I have been xperimenting with an RSI based upon the number of days
in the RSI calculation period. According to "Trading Systems and
Methods" by Kaufman (page 135), more days will smooth out the curve. My first cut was the 5 period RSI. The Metastock code I generated is:
use formula builder and call xRSI
span:=Input("RSI span",1,5,2);
term1:=CLOSE - Ref(CLOSE,-span);
term2:=Ref(CLOSE,-span) - Ref(CLOSE,-2*span);
term3:=Ref(CLOSE,-2*span)- Ref(CLOSE,-3*span);
term4:=Ref(CLOSE,-3*span)- Ref(CLOSE,-4*span);
term5:=Ref(CLOSE,-4*span)- Ref(CLOSE,-5*span);
p1up:=If(term1>0,term1,0);
p2up:=If(term2>0,term2,0);
p3up:=If(term3>0,term3,0);
p4up:=If(term4>0,term4,0);
p5up:=If(term5>0,term5,0);
p1dn:=If(term1<=0,-term1,0);
p2dn:=If(term2<=0,-term2,0);
p3dn:=If(term3<=0,-term3,0);
p4dn:=If(term4<=0,-term4,0);
p5dn:=If(term5<=0,-term5,0);
sumup:=p1up+p2up+p3up+p4up+p5up;
sumdown:=p1dn+p2dn+p3dn+p4dn+p5dn;
den:=If(sumdown>0,sumdown,.0001);
xrsi:=100-(100/(1+(sumup/den)));
xrsi
At first glance it appears to closely resemble the built in
RSI for a one day span and a week.
now to find out what clues it can give.
wart |
