Market Internals: Progression of simple and exponential RSI

Sunday, June 22, 2008

Here is a 2m, 5m and 15m snapper on a 1m chart. The red line indicates how the snapper would look when the 1m bar closes.

. said...: inputs:
HigherLevel(5),
Center(50),
Period(2),
Exponential(false),
PlotOnlyClose(false);

variables: Price(0),
xPrice(0),
RSI1( 0 ),
Chg1(0),
Gain(0),
Loss(0),
RS(0),
CurrRSI1(0);
var: num(0), exp(0), score(0);

score = 0;

num = FracPortion(time / 100 ) * 100;
num = FracPortion(num / higherlevel ) * higherlevel;
if num = 0 then num = higherlevel;
Price = close;
xPrice = close[num];
Chg1 = Price - xPrice;
Gain = 0; loss = 0;
if (Chg1>0) then gain = Chg1
else begin
loss = Chg1;
end;
if (Chg1[num]>0) then gain = gain + Chg1[num]
else begin
loss = loss + Chg1[num];
end;
if (loss<>0) then RS = gain/loss
else begin; RS = -999999999; end;
CurrRSI1 = 100-(100/(1-RS));
Exp = 2 / (period+1);
if Exponential then RSI1 = (CurrRSI1 * Exp + RSI1[num]*(1-Exp))
else RSI1 = (CurrRSI1 + CurrRSI1[num])/2;
score = RSI1;

if PlotOnlyClose = false then Plot1(score, "RSI");
if num = HigherLevel then Plot2(score, "Close Line");
if num = HigherLevel then Plot3(score, "Close Point");
Plot99(Center, "Center");; June 26, 2008 at 5:14 PM