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This Reverse Engineer RSI (RSI PREDICTOR) helps you to know what stock price must be reached in order to trigger a particular RSI value. For example, if I want to buy a stock or ETF on the close today if the RSI(2) is below 50. How do I know what stock closing price will trigger a RSI(2) <= 50?
This could be useful when you have a system which buy or sell a stock on specific RSI treshold. You have not wait for the end of the day (for completing bar and generating signal), but you can send a limit/stop order on a specific price.
Options:
RSI_Treshold : RSI Value
RSI_Period: RSI Period
Result: Stock Price by specific RSI Value
Converted from Amibroker from this blog: http://mysimplequant.blogspot.sk/2010/11/rsi-predictor-for-amibroker.html
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
