Need help programming RSI without wilderaverage function

• 01/03/2021 at 2:28 PM #156086
  Timothy

  I need help programming an RSI without the pre-existing “wilderaverage” function. The reason is that i have a few ideas about altering the relative strength formula. I have tried to do this myself but have not been successful.

  

  Timothy

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  01/03/2021 at 3:01 PM #156092
  robertogozzi

  Here’s the code, you can change it as best suits you:

  // RSI custom // // (https://www.prorealcode.com/topic/indicatore-rsi/#post-51250) // (https://www.investopedia.com/terms/r/rsi.asp) // // p = 14 p = max(1,min(p,999)) //2 - 999 Ob = 70 Os = 100 - Ob // // Determina le variazione giornaliere rialzo = MAX(0, CLOSE - CLOSE[1]) ribasso = MAX(0, CLOSE[1] - CLOSE) // Calcola la media dei guadagni i giorni di rialzo // e delle perdite i gorni di ribasso mmRialzo = WILDERAVERAGE[p](rialzo) mmRibasso = WILDERAVERAGE[p](ribasso) // En déduit le RS RS = mmRialzo / mmRibasso // E finalmente le RSI mioRSI = 100 - (100 / (1 + RS)) RETURN mioRSI AS "Rsi",Os AS "Os",Ob AS "Ob", 50 as "Mid"

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  // RSI custom // // (https://www.prorealcode.com/topic/indicatore-rsi/#post-51250) // (https://www.investopedia.com/terms/r/rsi.asp) // // p = 14 p  = max(1,min(p,999))                   //2 - 999 Ob = 70 Os = 100 - Ob // // Determina le variazione giornaliere rialzo  = MAX(0, CLOSE - CLOSE[1]) ribasso = MAX(0, CLOSE[1] - CLOSE)   // Calcola la media dei guadagni i giorni di rialzo // e delle perdite i gorni di ribasso mmRialzo  = WILDERAVERAGE[p](rialzo) mmRibasso = WILDERAVERAGE[p](ribasso)   // En déduit le RS RS = mmRialzo / mmRibasso   // E finalmente le RSI mioRSI = 100 - (100 / (1 + RS))   RETURN mioRSI AS "Rsi",Os AS "Os",Ob AS "Ob", 50 as "Mid"

   

  

  robertogozzi

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  01/11/2021 at 7:03 PM #157389
  Timothy

  Thank you robertogozzi for that answer.

  I have tryed to apply a golden ratio multiplier of 1.618 to all closing prices that go in to the formula but no mather how i write this code it just dosen’t seem to work. The program ignores the multiplier (1.618) and displayes regular RSI instead.
  Do you have any idea of what it is i’m doing wrong, or is it simply not possible to apply a multiplier to the Prorealcode Wilderaverage function?

  Here is my code:

  RSI with golden ratio

  //variation of closing prices UPCLOSE = MAX(0, CLOSE - CLOSE[1]) DOWNCLOSE = MAX(0, CLOSE[1] - CLOSE) //1.618 golden ratio multiplier to all closing prices BULL = UPCLOSE * 1.618 BEAR = DOWNCLOSE * 1.618 //Average upcloses divided by average down closes BULLAVERAGE = WILDERAVERAGE[14](BULL) BEARAVERAGE = WILDERAVERAGE[14](BEAR) RS = BULLAVERAGE/BEARAVERAGE //Relative strength index formula MYRSI = 100 - 100 / (1 + RS) RETURN MYRSI, 30, 50, 70

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  //variation of closing prices UPCLOSE = MAX(0, CLOSE - CLOSE[1]) DOWNCLOSE = MAX(0, CLOSE[1] - CLOSE)   //1.618 golden ratio multiplier to all closing prices BULL = UPCLOSE * 1.618 BEAR = DOWNCLOSE * 1.618   //Average upcloses divided by average down closes BULLAVERAGE = WILDERAVERAGE[14](BULL) BEARAVERAGE = WILDERAVERAGE[14](BEAR)   RS = BULLAVERAGE/BEARAVERAGE   //Relative strength index formula MYRSI = 100 - 100 / (1 + RS)   RETURN MYRSI, 30, 50, 70

   

  

  Timothy

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  01/11/2021 at 7:19 PM #157395
  robertogozzi

  It shouldn’t change anything.

  If you have 14 closing prices RSI returns some data, If you multiply those prices for wahtever number you want RSI will always return the same result.

  Example:

  23 * 1 = 23 2 * 1 = 2 ------------- 23 / 2 = 11.5

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  23 * 1 = 23 2  * 1 = 2 ------------- 23 / 2 = 11.5

  no matter if you multiply each number by two or else, the result will be the same (11.5):

  23 * 2 = 46 2 * 2 = 4 ------------- 46 / 4 = 11.5

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  23 * 2 = 46 2  * 2 = 4 ------------- 46 / 4 = 11.5

   

   

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  Timothy

  

  robertogozzi

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  05/19/2021 at 1:27 PM #169979
  Timothy

  Oh, now i understand, thank you 🙂

  I have another question.
  Is it possible to change the smoothening/dampening of RSI in pro realcode?

  

  Timothy

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  05/19/2021 at 2:40 PM #169986
  robertogozzi

  Smoothing any indicator means applying an average to it. So a smoothed RSI is quite simple:

  MyRSI = Rsi[14](close) //standard RSI SmoothedRSI = Average[10,1](MyRSI) //RSI smoothed with a 10-period EMA RETURN MyRSI AS "Rsi",SmoothedRSI AS "Smoothed Rsi"

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  MyRSI       = Rsi[14](close)           //standard RSI SmoothedRSI = Average[10,1](MyRSI)     //RSI smoothed with a 10-period EMA RETURN MyRSI AS "Rsi",SmoothedRSI AS "Smoothed Rsi"

  

  robertogozzi

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