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Self-Adjusting RSI by David Sepiashvili

David Sepiashvili's article, "The Self-Adjusting RSI," describes two methods of adjusting
the width of the overbought and oversold bands for the RSI.

Both of these methods have been incorporated into a single MetaStock indicator. This formula will prompt for the length of the RSI; the constants used to calculate the bands; and the method to calculate the bands.

To enter this indicator into MetaStock:

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.
4. Click in the larger window and type in the following formula:


Self-Adjusting RSI

x:=Input("number of periods for RSI",1,2000,14);
k1:=Input("standard deviation constant",0.1,5,1.8);
c1:=Input("SMA constant",0.1,5,2);
m1:=Input("method <1=SD/2=SMA>",1,2,1);
top:=If(m1=1,
50+(k1*Stdev(RSI(x),x)),
50+(c1*Mov(Abs(RSI(x)-Mov(RSI(x),x,S)),x,S)));
bottom:=If(m1=1,
50-(k1*Stdev(RSI(x),x)),
50-(c1*Mov(Abs(RSI(x)-Mov(RSI(x),x,S)),x,S)));
RSI(x);
top;
bottom

 

5. Click OK to close the Indicator Editor.

--William Golson
MetaStock Support Representative
Equis International (A Reuters Company)
801 265-9998, www.metastock.com

Source / From: TOP
http://www.traders.com

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