Download RSI with Commentary For Amibroker (AFL)

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2 / 5 (Votes 4)

oscillator, trading system, amibroker, commentary

Submitted by kaiji over 15 years ago

Submitted by ariful_islam over 14 years ago

Submitted by siddhisagar over 14 years ago

Submitted by jachyuen over 13 years ago

Submitted by NTA over 12 years ago

Submitted by njethva over 12 years ago

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_SECTION_BEGIN("RSI");
SetChartOptions(0,0,chartGrid30|chartGrid70);
periods = Param( "Periods", 15, 1, 200, 1 );
Plot( vrsi = RSI( periods), _DEFAULT_NAME(), ParamColor( "Color", colorCycle ), ParamStyle("Style")  );
 
if( Status("action") == actionCommentary ) 
{
 
Buy = Cross( vrsi, 30 );
Sell = Cross( 70, vrsi );
 
printf( "The current value for the RSI" + periods + " is " + WriteVal( vrsi ) );
 
printf("\n\nThe RSI, written by J. Welles Wilder in 1978, can be used in several different ways to analyze a chart.\n");
 
printf("Tops and Bottoms:\n\n");
 
printf( 
WriteIf( vrsi > 70, "The RSI is above 70.  This is where it usually tops.  The RSI usually forms tops and bottoms before the underlying security.",
WriteIf( vrsi < 30, "The RSI is below 30.  This is where it usually bottoms.  The RSI usually forms tops and bottoms before the underlying security.",
"The RSI is not currently in a topping (above 70) or bottoming (below 30) range. "
+ WriteIf( Cross( 70, vrsi ), "However, the RSI just crossed below 70 from a topping formation.  This is a bearish sign.",
WriteIf( Cross( vrsi, 30 ), "However, the RSI just crossed above 30 from a bottoming formation.  This is a bullish sign.", "" ) ) ) ) ); 
 
bars30 = BarsSince( Buy );
bars70 = BarsSince( Sell );
 
printf("\n\nBuy/Sell signals:");
printf("\nA buy or sell signal is generated when the RSI moves out of an overbought/oversold area. \nThe last signal was a "+
WriteIf( bars30 < bars70, "buy", WriteIf( bars30 > bars70, "sell", "" ))+
WriteVal( Min( bars30, bars70 ), 3.0 ) + " period(s) ago.");
 
printf("\n\nChart Formations:");
 
printf("\nThe RSI often forms chart patterns (such as head and shoulders or rising wedges) and support/resistance levels that may or may not be visible on the price chart.  "+
"Since the analysis of chart patterns/formations is subjective, the automatic interpretator cannot find them.  Please visually inspect the chart and look for such patterns.");
 
printf("\n\nFailure Swings (also known as support or resistance penetrations or breakouts):");
printf(
WriteIf( vrsi >= HHV( vrsi, 14 ), "The RSI has just reached its highest value in the last 14 period(s).  This is bullish.",
WriteIf( vrsi <= LLV( vrsi, 14 ), "The RSI has just reached its lowest value in the last 14 period(s).  This is bearish.",
"The RSI does not currently show any Failure Swings." ) ) );
 
printf("\n\nDivergence:\n");
printf(
WriteIf( Close >= HHV( Close, 14 ) AND vrsi < HHV( vrsi, 14 ), 
"The security price has set a new 14-day high while the RSI has not.  This is a bearish divergence.",
WriteIf( vrsi >= HHV( vrsi, 14 ) AND Close < HHV( Close, 14 ), 
"The RSI has set a new 14-day high while the security price has not.  This is a bullish divergence.",
WriteIf( Close <= LLV( Close, 14 ) AND vrsi > LLV( vrsi, 14 ), 
"The security price has set a new 14-day low while the RSI has not.  This is a bullish divergence.",
WriteIf( vrsi <= LLV( vrsi, 14) AND Close > LLV(Close,14), 
"The RSI has set a new 14-day low while the security price has not.  This is a bearish divergence.",
"The RSI and price are not diverging." ) ) ) )); 
 
printf("\nThis commentary is not a recommendation to buy or sell. Use at your own risk.");
}
_SECTION_END();

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RSI with Commentary for Amibroker (AFL)
ibrahimatm
almost 15 years ago
Amibroker (AFL)

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