Stochastic RSI for ProRealTime

The stochastic RSI oscillator, applies RSI values instead of price into the stochastic formula.

Stochastic RSI = ((Today’s RSI – Lowest RSI Low in %K Periods) / (Highest RSI High in %K Periods – Lowest RSI Low in %K Periods)) * 100

Stochastic RSI measures the value of RSI in relation to its High and Low range over the required period:
when a regular RSI reaches a a new Low for the period, Stochastic RSI will be at 0. When RSI records a new high for the period, Stochastic RSI will be at 100.

This indicator was made by request on forum.

//PRC_Stochastic RSI | indicator
//06.12.2016
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//converted and adapted from Pinescript version

// -- parameters:
lengthRSI = 10 //RSI period
lengthStoch = 10 //Stochastic period
smoothK = 10 //Smooth signal of stochastic RSI
smoothD = 3 //Smooth signal of smoothed stochastic RSI

myRSI = RSI[lengthRSI](close)
MinRSI = lowest[lengthStoch](myrsi)
MaxRSI = highest[lengthStoch](myrsi)

StochRSI = (myRSI-MinRSI) / (MaxRSI-MinRSI)

K = average[smoothK](stochrsi)*100
D = average[smoothD](K)

return K as "K%", D as "D%"

Download

Filename: PRC_Stochastic-RSI.itf

Downloads: 653

Comments

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AutoFlanders

7 years ago

Thanks GraHal, that's what i was looking for

GraHal

8 years ago

Try again (quite limited what you can do as Comments in the Library) https://www.prorealcode.com/topic/prt_stochastic-rsi-v1-1/

GraHal

8 years ago

Forked code I mention above is here ... GraHal wrote: So below is the PRC Stochastic RSI v1.1 for anybody who wants it.

GraHal

8 years ago

Mmm seems the Add PRT Code does not work on Library Threads ??

GraHal

8 years ago

If you want this Indicator to look the same as the Stochastic RSI built into the PRT Platform then use the code below

zakootajin

8 years ago

Hi Nicolas, I am working on building a StochRSI indicator. My RSI and StochRSI values are correct but I am having an issue in matching the %K values with a trading platform. Could you tell me the formula for calculating the %K?

Nicolas

8 years ago

The formula is the same as the above code. The K% is just the percentage of prive movement over a dynamic scale made by recent (periods) highest high and lowest low.

verdi55

10 years ago

I found the reason. The indicator built into the PRT platform displays only the StochRSI variable in your code, not the averages K and D. So I think, StochRSI is kind of a fast stochastic indicator, whereas the smoothed K% and D% in your code are the slow stochastic variety. Would you agree ?

Nicolas

10 years ago

Well, in this indi you can choose the RSI period, the period of the stochastic calculation of the RSI and the 2 smoothing periods K and D.

verdi55

10 years ago

Hello Nicolas,

in what way does this indicator compare to the Stochastic RSI that is built-in into the PRT platform ? When I display the built-in indicator with a period of 10 units, I get a totally different picture. Do you know what the reason is ?

Nicolas

10 years ago

I don't know about the formula of the one built-in into the platform. This one has been converted from the tradingview platform as a request on forum, and it is totally similar to the original indicator.