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Reverse Engineering RSI for Amibroker (AFL)
Rating:
4 / 5 (Votes 6)
Tags:
amibroker, bands
Derived and coded in accordance with Constance Brown’s ‘Technical Analysis for the trading professional’.
Bullsupport and Bearresistance can be adjusted and directly plotted in candlestick chart. You now know exactly what close the next bar has to make in order to reach the specified RSI-values.
Have fun!
Screenshots
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Indicator / Formula
Copy & Paste Friendly
Value1 = Param("RSI BearResistance", 60, 1, 100, 0.1 );
Value2 = Param("RSI BullSupport", 40, 1, 100, 0.1 );
WildPer = Param("Time periods", 14, 1, 100 );
ExpPer = 2 * WildPer - 1;
AUC = EMA( Max( C - Ref( C, -1 ), 0 ), ExpPer );
ADC = EMA( Max( Ref( C, -1 ) - C, 0 ), ExpPer );
x1 = (WildPer - 1) * ( ADC * Value1 / (100-Value1) - AUC);
RevEngRSI1 = IIf( x1 >= 0, C + x1, C + x1 * (100-Value1)/Value1 );
x2 = (WildPer - 1) * ( ADC * Value2 / (100-Value2) - AUC);
RevEngRSI2 = IIf( x2 >= 0, C + x2, C + x2 * (100-Value2)/Value2 );
Plot( Close, Date()+", Close ", colorWhite, styleCandle );
Plot( RevEngRSI1, "RSIBearResistance( "+WriteVal(WildPer,1.0)+", "+ WriteVal(Value1, 1.2)+" )", colorRed );
Plot( RevEngRSI2, "RSIBullSupport( "+WriteVal(WildPer,1.0)+", "+ WriteVal(Value2, 1.2)+" )", colorGreen );3 comments
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EXCELLENT STUFF!
Thanks for sharing.
best afl…..
…you’re very welcome!