RSI Closing value by Alvarez for Amibroker (AFL)
c62 over 6 years ago Amibroker (AFL)
Determines the closing value of a stock need to reach a particular RSI value
function ReverseRSI(nLen, rsiTarget)
Indicator / Formula
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// Provided as is by www.AlvarezQuantTrading.com
/////////////////// Reverse RSI Calculator ////////////////////////
// Determines the closing value of a stock need to reach a particular RSI value
function ReverseRSI(nLen, rsiTarget)
{
gain = Max(C-Ref(C,-1), 0);
loss = -Min(C-Ref(C,-1), 0);
rsGain = IIf(BarIndex() < nLen-1,Null,
IIf(BarIndex()==nLen-1, MA(gain, nLen), gain));
rsLoss = IIf(BarIndex() < nLen-1,Null,
IIf(BarIndex()==nLen-1, MA(Loss,nLen), Loss));
rsGain = AMA(rsGain, 1/nLen);
rsLoss = AMA(rsLoss, 1/nLen);
RSIcalc = IIf(BarIndex()<nLen-1, Null, 100*rsGain/(rsGain+rsLoss));
targetPrice = IIf( (rsiTarget < RSI(nLen)),
C-100*(((nLen-1)*rsGain)/rsiTarget)+((nLen-1)*rsGain)+((nLen-1)*rsLoss),
C+((rsiTarget/(100-rsiTarget)*((nLen-1)*rsLoss))-((nLen-1)*rsGain))
);
return targetPrice;
}
Filter = TRUE ;
AddColumn(C,"Close");
AddColumn(RSI(2), "RSI2");
AddColumn(ReverseRSI(2, 30),"RSI30-Next Day Price",1.3);
AddColumn(ReverseRSI(2, 70),"RSI70-Next Day Price",1.3);4 comments
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Hello c62
This AFL shows nothing. All blank.
Would you please tell how to use it.
Thanks.
It’s an exploration only. No chart.
hey man thanks for the code.. can you guide me how to plot the rsi using this formula and can we apply the range of rsi here ?
helpful thank you