Dear PRT-code-community,
First of all, thanks to all, who offer their know-how inside here. Since a few weeks, I’m reading some very interesting topics here.
But now, I have a “special” question and hopefully someone has an idea.
MANY THANKS!
I use PRT also with different indicators.
I also have access to an RSI indicator, which coding is blocked and not open to see.
Now, I tried to rebuild this with several settings in PRT.
The result goes in the right direction, but some peaks are not on the same level.
RSI1) => the basic RSI from PRT with a period of 14 days.
RSI2) => the “blocked” RSI, where I not know some details
RSI3) => RSI code from here, which looks very similar to RSI1) (please see code bellow).
***I still tried different periods, but the result is not really rebuildable.***
Thanks in advance for your ideas and help!
Best,
Joe8711
// RSI indicator
//
// Formula:
//
// (https://www.prorealcode.com/topic/indicatore-rsi/#post-51250)
// (https://www.investopedia.com/terms/r/rsi.asp)
//
p = 14 //periods
Ob = 70 //OverBought
Os = 100 - Ob //OverSold
//
Bullish = MAX(0, CLOSE - CLOSE[1])
Bearish = MAX(0, CLOSE[1] - CLOSE)
//
mmBullish = WILDERAVERAGE[p](Bullish)
mmBearish = WILDERAVERAGE[p](Bearish)
//
RS = mmBullish / mmBearish
myRSI = 100 - (100 / (1 + RS))
//
RETURN MyRSI AS "Rsi",Os AS "Os",Ob AS "Ob"
JSParticipant
Senior
Hi Joe,
In your screenshot, RSI1 and RSI3 are the same…
The “blocked” RSI is more responsive compared to the other RSI and for this purpose a “normal” average was used instead of the “WilderAverage”…
REM Computes the daily variations
UP = MAX(0, close - close[1])
DOWN = MAX(0, close[1] - close)
REM Computes the moving average of gains on positive days
REM and losses on negative days
upMA = Average[p](UP)
downMA = Average[p](DOWN)
REM Now we can compute the RS
RS = upMA / downMA
REM And finally the RSI
myRSI = 100 - 100 / (1 + RS)
DrawHLine(70)
DrawHLine(30)
RETURN myRSI AS "Relative Strength Index"
The code you posted is the correct standard formula, as used by PRT.
I couldn’t spot any difference between the two indicators.
Thanks to both of you!
The reply from JS is exactly, what I’m looking for.
Only “p = 14” was missing, but thats it.
Many thanks, good job!
