RSI Everything Calculations

  • SumoMe

Below is a compilation of the calculations involved in arriving at RSI Everything.  For the record, RSI Everything was created because I simply couldn’t figure out which of the four RSI based indicators was “the best” – so simply combined them into one “everything and the kitchen sink” indicator, for better or worse.

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!Code for RSIAll:

!In English: Add the current 2-day, 3-day and 4-day RSI values and divide  by 3

Define days2 3.

U2 is [close]-val([close],1).

D2 is val([close],1)-[close].

AvgU2 is ExpAvg(iff(U2>0,U2,0),days2).

AvgD2 is ExpAvg(iff(D2>=0,D2,0),days2).

RSI2 is 100-(100/(1+(AvgU2/AvgD2))).

Define days3 5.

U3 is [close]-val([close],1).

D3 is val([close],1)-[close].

AvgU3 is ExpAvg(iff(U3>0,U3,0),days3).

AvgD3 is ExpAvg(iff(D3>=0,D3,0),days3).

RSI3 is 100-(100/(1+(AvgU3/AvgD3))).

Define days4 7.

U4 is [close]-val([close],1).

D4 is val([close],1)-[close].

AvgU4 is ExpAvg(iff(U4>0,U4,0),days4).

AvgD4 is ExpAvg(iff(D4>=0,D4,0),days4).

RSI4 is 100-(100/(1+(AvgU4/AvgD4))).

RSIAll is (RSI2+RSI3+RSI4)/3.

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!Code for RSIROC:

!In English: calculate the 3-day change in the standard 3-day RSI value and add it to (the current 3-day RSI minus 50).  RSIROC is a 2-day exponential average of that value. 

 ThreeDayROCRSI is (RSI3-valresult(RSI3,3)).

RSIPlusROCRSI is (RSI3-50)+ThreeDayROCRSI.

RSIROC is (expavg(RSIPlusROCRSI, 2)).

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!Code for RSIq2:

!In English: calculate the 3-day change in the standard 14-day RSI value and subtract it from (14-day RSI minus 50).  RSIROC14 is a 2-day exponential average of that value. Add (14-day RSI minus 50) to RSIROC14 and multiply by 2 to get current RSIq2 value.

ThreeDayROCRSI14 is (RSI14-valresult(RSI14,3)).

RSIPlusROCRSI14 is (RSI14-50)+ThreeDayROCRSI14.

RSIROC14 is (expavg(RSIPlusROCRSI14, 2)).

RSI14mid50 is RSI14-50.

RSIq2 is (RSIROC14+RSI14mid50)*2.

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!Code for TDREI

In English: Um, try Googling “Tom Demark Range Expansion Index” – sorry.

Hitoday is [high].

H2 is val([high], 2).

H5 is val([high], 5).

H6 is val([high], 6).

Lotoday is [low].

L2x is val([low], 2).

L5 is val([low], 5).

L6 is val([low], 6).

Closetoday is [close].

C7 is val([close], 7).

C8 is val([close], 8).

TD1 is [high] – h2.

TD2 is [low] – l2x.

TD3 is iff(([high] >= l5 or [high] >= l6) and ([low] <= h5 or [low] <= h6), 1, 0).

TD4 is iff((h2 >= c7 or h2 >= c8) and (l2x <=c7 or l2x <=c8), 1, 0).

TD6 is td1 + td2.

TD5 is iff((td3 + td4) >=1, td6, 0).

TD7 is abs(td1) + abs(td2).

TDREI is ((TD5 + valresult(TD5, 1) + valresult(TD5, 2) + valresult(TD5, 3) + valresult(TD5, 4)) / (TD7 + valresult(TD7, 1) + valresult(TD7, 2) +valresult(TD7, 3) + valresult(TD7, 4))) * 100.

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!Code for TD Everything:

!In English: Add the four indicator values together and divide by 4

!Note: 50 is subtracted from RSIAll here to make 0 neutral as with the other indicators

RSIEverything is (((RSIAll-50) +RSIROC +RSIq2 +TDREI) / 4)

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Jay Kaeppel

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