How to calculate RSI2 at a price

• 09/24/2018 at 3:20 PM #81210
  Vonasi

  I’m trying to calculate what the value of RSI[2] would be if on the next bar price had dropped to a certain value.

  I’ve tried several ideas but nothing seems to return the correct values. Anyone know how to do this?

   

   

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1811 times
  09/24/2018 at 3:28 PM #81213
  Nicolas

  You can try to reverse engineer the RSI or start from this version: RSI Reverse Engineering indicator

  

  Nicolas

  Keymaster

  Topics: 81

  Replies: 20863

  Been thanked: 4774 times
  09/25/2018 at 9:21 AM #81267
  Vonasi

  I’ve reverse engineered the reverse engineered RSI indicator!… and I think I have something that works. In this code the value for RSI2 is returned if price is at the Average[2](Low).

  My plan was to have RSI2 based position sizing and buy on a pending order if price fell to the Average[2](low) so hopefully this can now be done. I’m sure there is most likely a more elegant solution to find this info but I’ll use this until someone else can tell me what that solution is.

  RSIPeriod = 2 for i = 0 to 10000 RSIRevValue = i/100 REM Original RSI values RSIOri = RSI[RSIPeriod](close) UPOri = MAX(0, close - open) //higher close then previous DOWNOri = MAX(0, open - close) //lower close then previous upMAOri = wilderAverage[RSIPeriod](UPOri) downMAOri = wilderAverage[RSIPeriod](DOWNOri) REM Reversed Engineered RSI Value to Price RSRev = (100/((-1*RSIRevValue)+100))-1 if RSIRevValue < RSIOri THEN upMARev = upMAOri*(1-(1/RSIPeriod)) downMARev = upMARev/RSRev DOWNRev = (downMARev - (downMAOri * (1-(1/RSIPeriod))))/(1/RSIPeriod) RSIPriceRev = close - DOWNRev elsif RSIRevValue > RSIOri THEN downMARev = downMAOri*(1-(1/RSIPeriod)) upMARev = downMARev*RSRev UPRev = (upMARev - (upMAOri * (1-(1/RSIPeriod))))/(1/RSIPeriod) RSIPriceRev = close + UPRev endif if RSIPriceRev >= average[2](low) then myRSI = RSIRevValue break endif next //Dummy Trade if average[2] = -1 then buy at market endif graph myRSI

  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40

  RSIPeriod = 2   for i = 0 to 10000 RSIRevValue = i/100   REM Original RSI values RSIOri = RSI[RSIPeriod](close) UPOri = MAX(0, close - open) //higher close then previous DOWNOri = MAX(0, open - close) //lower close then previous upMAOri = wilderAverage[RSIPeriod](UPOri) downMAOri = wilderAverage[RSIPeriod](DOWNOri) REM Reversed Engineered RSI Value to Price RSRev = (100/((-1*RSIRevValue)+100))-1 if RSIRevValue < RSIOri THEN upMARev = upMAOri*(1-(1/RSIPeriod)) downMARev = upMARev/RSRev DOWNRev = (downMARev - (downMAOri * (1-(1/RSIPeriod))))/(1/RSIPeriod) RSIPriceRev = close - DOWNRev elsif RSIRevValue > RSIOri THEN downMARev = downMAOri*(1-(1/RSIPeriod)) upMARev = downMARev*RSRev UPRev = (upMARev - (upMAOri * (1-(1/RSIPeriod))))/(1/RSIPeriod) RSIPriceRev = close + UPRev endif   if RSIPriceRev >= average[2](low) then myRSI = RSIRevValue break endif next   //Dummy Trade if average[2] = -1 then buy at market endif   graph myRSI

  

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1811 times
• Author
  Posts