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#1 Selling Amibroker Plugin featuring:
RSI with Commentary for Amibroker (AFL)
Click at any point you will find the interpretation in the interpretation window.
Similar Indicators / Formulas
Indicator / Formula
_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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