Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : TA-Quote Plus Version 2.0 -- Ignore unavailable to you. Want to Upgrade?

To: Sean W. Smith who wrote (7)	2/3/1998 9:44:00 AM
From: CynicalTruth	Read Replies (2) \| Respond to of 85

I brought up the RSI discrepancy between Q+ & SC way back when I put that V2 stochRSI scan together. Must have been late last summer or early fall. There are a few posts on the V1 thread but I never got an answer from Gary on it. I believe that Bob J. had a comment about it back then too... We will never get Q+ to match the main charting programs value for value, so the next best thing is to realize that these problem exist and then use Q+ only as far as possible before switching to our charting programs of choice. This I currently do with the stochRSI indicator... John

To: Sean W. Smith who wrote (7)	2/3/1998 1:40:00 PM
From: TechTrader42	Respond to of 85

Not yet, Sean. He's probably busy coding. I suspect QP2 will be released soon. I'll do some more sleuthing with the RSI mystery. Alexander Elder goes through the formula for RSI step by step in "Trading for a Living." It's in the "Encyclopedia of Technical Market Indicators" by Colby and Meyers, too. And it's in "TA from A to Z." But I'm no closer to finding how QP calculates the value in its scans. Basically, the formulas are pretty much the same in all the books above. Elder does one thing that I wonder about. He gets the average of Up changes and divides by the average of Down changes. He does this by dividing net Up changes by the number of days in the period, and then dividing net Down changes by the number of days. Then he divides the Up changes average by the Down changes average to get "RS." I wonder why he first divides net Up changes and Down changes by days in the period. Because both the numerator and denominator are divided by the same number (the period), it seems an unnecessary step. He'd get the same result without it. It's a useless step, it seems to me. It would only make sense if you divided net Up changes by the number of days when price was up, and Down changes by the number when price was down. Then you'd have to have that step. But I'm mumbling to myself. At least I've moved on from CCI to RSI. There's progress in my life. No doubt you'll ask what all of this is leading to, if anywhere. I'd like to get a reliable formula for StochRSI, one that returned values equal to those in Wow and Metastock. Right now, the values differ, because the QP scans don't appear to give quite the same RSI values that WOW and Metastock give. The QP data window in charts gives the same values as Wow and Metastock, though. And where will such a QP formula for StochRSI lead? Fabulous wealth. Of course, I could use StochRSI in Wow and Metastock to obtain fabulous wealth today, but I'd like to be able to say that QP scans made it possible. Brooke