Edit existing RSI efs

[jay21]

Hello!

I wanted to change the existing RSI efs in eSignal that is based on the closing price. Instead I wanted to base my RSI calculations on the daily change in price, ie the difference between the close today and yesterday.

If I want to edit the existing RSI efs I need to replace the term "Close" with something else that refers to the daily change. I have tried "Change" but this only gives me a Syntax Error.

What term is used for daily price change?

Tks,
Johan

[ACM]

Re: Edit existing RSI efs

Johan
There isn't a specific function to retrieve the net change however a 1 period Momentum of the Close will return the difference between the current and prior Close which is the price you want to use as a source for the RSI.
The simplest way to accomplish that is to use the rsi() and mom() efs2 functions ie
rsi(14, mom(1))
For the description and syntax of these function see the links to the corresponding articles in the EFS KnowledgeBase. You may also want to review this thread for more examples on using the efs2 functions. In that thread you can also find a basic template for writing efs formulas.
Alex

Originally posted by jay21
Hello!

I wanted to change the existing RSI efs in eSignal that is based on the closing price. Instead I wanted to base my RSI calculations on the daily change in price, ie the difference between the close today and yesterday.

If I want to edit the existing RSI efs I need to replace the term "Close" with something else that refers to the daily change. I have tried "Change" but this only gives me a Syntax Error.

What term is used for daily price change?

Tks,
Johan

[jay21]

Thanks for this Alex!

Could you tell me in detail what to write in on the line to replace the current rsi(14, "close") which is how it reads now - I tried rsi(14, mom(1)), but this still just returns a syntax error...?

Really appreciate your help here.

Tks,
Johan

[ACM]

jay21
As far as I can see rsi(14, mom(1)) is working fine. You can verify this by running the following script

function preMain(){
    setCursorLabelName("RSI_of_MOM");
}

function main(){
    return rsi(14, mom(1));
} 

which will return the 14 period RSI of a 1 period Momentum study ie the change between the current and the previous Close (see enclosed screenshot).
You may want to post the code as you have modified it and I will go over it.
Alex

Originally posted by jay21
Thanks for this Alex!

Could you tell me in detail what to write in on the line to replace the current rsi(14, "close") which is how it reads now - I tried rsi(14, mom(1)), but this still just returns a syntax error...?

Really appreciate your help here.

Tks,
Johan

[jay21]

Sorry, still does not work.

Let me explain what I do here - I go into Tools/EFS/Formula Wizard/Open Formula.

In here what I did first is to choose the RSI overbought/oversold EFS. Here I just edit the Study at the top so that it is now called RSIStudy(3, "mom(1)"). The variable name is then called vRSI3_of_mom(1).

Doing this and then pressing "check EFS syntax" gives me a syntax error with the message "line 9 Syntax Error missing before statement var vRSI3_of_mom(1) = new RSIStudy (3, mom(1)).

So again, could you please tell me what to change to fix this?

Tks,
Johan

[ACM]

Johan
If you are using the Formula Wizard to write the efs then the syntax I suggested will not work as it is based on efs2 functions which are not available to the Formula Wizard at this time
You can still write studies on studies with the Formula Wizard using the efs1 functions. For instructions on how to use the Formula Wizard (which also include an example of a study on study) you may want to review the Formula Wizard Guide which is available in the EFS KnowledgeBase
In your specific case you need to first create the 1 period Momentum study and then following the steps outlined in the study on study example in the Formula Wizard Guide create the RSI study selecting the Momentum study as its source (see screenshot enclosed below)
For future reference when posting questions regarding the Formula Wizard you may want to use the EFS Formula Wizard forum (where I have now moved the thread) as that will better indicate to those who are trying to assist you which tool you are using
Alex

Originally posted by jay21
Sorry, still does not work.

Let me explain what I do here - I go into Tools/EFS/Formula Wizard/Open Formula.

In here what I did first is to choose the RSI overbought/oversold EFS. Here I just edit the Study at the top so that it is now called RSIStudy(3, "mom(1)"). The variable name is then called vRSI3_of_mom(1).

Doing this and then pressing "check EFS syntax" gives me a syntax error with the message "line 9 Syntax Error missing before statement var vRSI3_of_mom(1) = new RSIStudy (3, mom(1)).

So again, could you please tell me what to change to fix this?

Tks,
Johan

[jay21]

I have managed to read up on the help files and get the variable names and studies in place like you show them below.

But it still does not work - no graf is shown.

To be honest I cannot believe how cumbersome the process of getting this in place is... - isn't there anyone I could speak to on the phone?

This is something that I believe could be solved during a one minute phone call instead of going back and forth with these messages...

Also I don't really care if I use the wizard or not - I just need this done - if you could show me the easiest way to do this step by step that is what I would do. It is very difficult to do this oneself from the examples when I have no experience in this field...

[ACM]

Johan

Also I don't really care if I use the wizard or not - I just need this done - if you could show me the easiest way to do this step by step that is what I would do.

Actually in an earlier reply I already provided you with the complete formula in its simplest form (together with a screenshot showing you that it was working).
Alex

Originally posted by jay21
I have managed to read up on the help files and get the variable names and studies in place like you show them below.

But it still does not work - no graf is shown.

To be honest I cannot believe how cumbersome the process of getting this in place is... - isn't there anyone I could speak to on the phone?

This is something that I believe could be solved during a one minute phone call instead of going back and forth with these messages...

Also I don't really care if I use the wizard or not - I just need this done - if you could show me the easiest way to do this step by step that is what I would do. It is very difficult to do this oneself from the examples when I have no experience in this field...