Pivot Based RSI for Amibroker (AFL)

pras

over 14 years ago

Amibroker (AFL)

In “The Pivot Detector Oscillator, Simplified” in the July 2009 S&C, Giorgos Siligardos presents a simple Rsi-based oscillator. Coding such an indicator is very straightforward. A ready-to-use formula for the article is presented here. To use it, enter the formula in the Afl Editor, then select “Insert indicator”. The same formula can be also used in an automatic analysis to perform backtesting.

Note: The signals plotted by this on a chart look pretty rare.

Indicator / Formula

function PIDosc()
{
    sma200 = MA(C, 200);
    bull = C > sma200;
    return IIf(bull, (RSI(14) - 35) / (85-35), (RSI(14) - 20) / (70-20)) *100;
}

pid = PIDOsc();

Buy = Cross(pid, 0);
Sell = Cross(100, pid);

Plot(C, "Price", colorBlack, styleBar);

PlotShapes(Buy *shapeUpArrow, colorBlue);
PlotShapes(Sell *shapeDownArrow, colorRed);

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