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Metastock - RSI help

Discussion in 'Software and Data' started by andrew_c2o, Jul 25, 2005.

  1. andrew_c2o

    andrew_c2o

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    I've been playing around with the explorer and have been trying a few different functions

    RSI(CLOSE,14) < 30 AND Ref(RSI(CLOSE,14),-5) < 20

    I thought think function would give me those stocks that are currently under the RSI 30 and under 20 five days ago. But it seems when I insert the in built RSI indicator into the chart on those that came up into the search it's not always what my function should have given me. Is this statement correct for what I want?
     
  2. GreatPig

    GreatPig Pigs In Space

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    Re: For you Metastock experts

    I'm not familiar with Metastock, but it looks right to me.

    Check that Metastock is using the same period RSI for its built-in indicator.

    GP
     
  3. tech/a

    tech/a No Ordinary Duck

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    Re: Metastock- RSI help

    Andrew the error is in your nesting.

    Metastock calculates that which is inside the inner most parenthisis first and works its way out.

    So you want RSI less than 20

    RSI(14) < 20

    You now want that 5 days ago.

    Ref(RSI(14) < 20,-5)

    Correct me if I'm wrong but I think your looking for prospects that are below their 14 day RSI at sometime over the last 5 days but rising out of it today.
    If so try this.

    In column A

    Alert(RSI(14) < 20,5) and RSI(14) > 30 {or whatever value you wish}

    Then in Filter ColA = 1

    There is one prospect BTX.
    This scan will often show no result.---not a bad thing.
     
  4. andrew_c2o

    andrew_c2o

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    Re: Metastock- RSI help

    Thanks heaps tech. So what does the Alert function actually do? And why are you using it instead of the Ref function?
     
  5. tech/a

    tech/a No Ordinary Duck

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    Re: Metastock- RSI help

    Do you have a metastock manual?

    If so use it as a reference youll learn heaps

    Secondly if your really keen subscribe to Roy Larsens Metastock tips and Tricks---worth the $130 a year many times over.

    Not being rude just encouraging you to learn.

    tech
     
  6. GreatPig

    GreatPig Pigs In Space

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    Re: Metastock- RSI help

    Tech,

    Unless I'm misunderstanding how Metastock works, that should give exactly the same result as the original Ref(RSI(CLOSE,14),-5) < 20 (ignoring that it's got CLOSE in the RSI function).

    In the original expression, it takes the RSI value 5 days ago and checks if it's less than 20. In your expression, you create an array of RSI < 20 (where the values in the array will all be one or zero) and then look at that value five days ago.

    Both should give the same answer.

    Cheers,
    GP
     
  7. andrew_c2o

    andrew_c2o

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    Re: Metastock- RSI help

    Have you tried testing this GreatPig? I tried doing some tests and it seems what I had originally does not match the inbuilt metastock RSI when I insert it on the chart, the values for 5 days ago are not the same sometimes, but sometimes they are it's weird. Unless the inbuilt RSI indicator for metastock is a bit different than the RSI function?

    I will try tech's and see hows it goes
     
  8. andrew_c2o

    andrew_c2o

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    Re: Metastock- RSI help

    Oh my bad I think they do both work, I was looking at the wrong column!

    In my column C i had RSI(14) and column D I had Ref(RSI(CLOSE,14) < 25,-5)

    Now in column D it only shows a 1 or 0 instead of the value. I was looking at column C thinking that was the value 5 days ago
     
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