RSI and Donchian screener

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12/05/2018 at 1:54 PM #86344 quote

Participant

Veteran

I’m trying to right a screener which looks for overbought or oversold conditions but I’m not sure if one screener can be used to achieve this.

I want it to display either overbought or oversold so I know which is which if that makes sense.

I have included the code but I’m not sure it works as is.

Thanks

Rob

// Overbought maybe

hh = highest[30](high)
MyRSI = RSI[5]

c1 = high[1] = hh
c2 = MyRSI > 70

Overbought = c1 AND c2

// Oversold maybe

ll = lowest[30](low)

c4 = low[1] = ll
c5 = MyRSI < 30

Oversold = c4 AND c5

Screener[Overbought or Oversold]

12/05/2018 at 2:45 PM #86352 quote

robertogozzi

Moderator

Legend

Try

// Overbought maybe
 
hh = highest[30](high)
MyRSI = RSI[5]
 
c1 = high[1] = hh
c2 = MyRSI > 70
 
Overbought = c1 AND c2
 
// Oversold maybe
 
ll = lowest[30](low)
 
c4 = low[1] = ll
c5 = MyRSI < 30
 
Oversold = c4 AND c5

x=0
If OverBought THEN
   x=1
Elsif OverSold THEN
   x=2
ENDIF
 
Screener[x]

robdav thanked this post

12/05/2018 at 3:40 PM #86362 quote

robdav

Participant

Veteran

Thanks. modified it slightly, seems to work now. Thank you Roberto!

// Overbought maybe

hh = highest[30](high)
MyRSI = RSI[5]

c1 = high[1] = hh
c2 = MyRSI > 70

Overbought = c1 AND c2

// Oversold maybe

ll = lowest[30](low)

c4 = low[1] = ll
c5 = MyRSI < 30

Oversold = c4 AND c5

x=0
If OverBought THEN
x=70
Elsif OverSold THEN
x=30
ENDIF

Screener[x](x as "Result")