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Mark
2010-11-18 01:47:54


Hi,

How can I Plot a three-period RSI of a one-period rate of change (the daily net change).
This indicator will be an oscillator between 0 to 100 with 2 horizontal lines indicating the 70 and 30 levels.
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Also how can I calculate and plot a short-term pivot point for the 2-period rate of change on daily chart:
i.e. Subtract today's close from the close two days ago (not yesterday but the day before). Thus, close (day one) - close (day three) equals
the 2-period rate of change. Add this number to yesterday's closing price (day two). This will be the short-term pivot number.

Thank you very much.

Mark



Mark
2010-11-18 01:50:30

  0

For the 2nd query, I tried the below formula in custom drawing tools but it gave me an error:

PV = ref(close, 1) + (Close - ref(close, 2));
plot(PV, "-", colorgreen, chartline, stylesymbolnone);



QuantShare
2010-11-18 04:22:26

  0

Best Answer
- 3-Bar RSI of one-bar close change:
a = rsi((close - ref(close, 1)), 3);
plot(a, "RSI-Change", colorBlue);
plot(70, "", colorGreen, ChartLine, StyleSymbolNone);
plot(30, "", colorRed, ChartLine, StyleSymbolNone);

- Custom drawing plug-in allows you to enter scripts not QuantShare formulas.
To enter formulas, right click on a chart and select "Edit formula".
Please select Help -> QuantShare Lessons for more information.

Your formula for the pivot point is correct.



Mark
2010-11-18 05:01:40

  0

Thank you very much. It works perfectly.

Regards,

Mark



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