2004 Sept: The Decomposition Method (ReverseEngRSI.efs)

[steveinvest1]

Hello -

Would it be possible to have the ReverseEngRSI.efs study enhanced to use in all time frames, like a custom EF2 study (i.e. 3 min. RSI on a 50 tick chart, 1 min. on a 5 min. chart, etc.)?

Thank you,
Steve Peterson
Minneapolis

[eSignal_JasonK]

Hello Steve,

The efsExternal() and efsInternal() series functions were created just for this purpose. To have the study calculated under the external time frame you simply pass a sym() or inv() function as the last parameter. The example below uses the efsExternal() function by passing the default parameters for the study and then the inv(3) at the end of the parameter list. An alternative method that would allow you to skip the passing of the default parameters is to use the efsInternal function in the example below. Just comment out the efsExternal() line in main and uncomment the efsInternal() line. This code example also requires that you save your formula in the same folder where the ReverseEngRSI.efs study exists.

function main(){
    var x = efsExternal("ReverseEngRSI.efs", 50, 14, "Close", Color.red, inv(3));
    //var x = efsInternal("calc", inv(3));
    return x;
}


function calc(interval) {
    return efsExternal("ReverseEngRSI.efs");
} 

Keep in mind that it's best to pass the higher time frame and plot the result on the lower time frame chart. Doing the opposite is not as useful because the higher time frame chart can not plot all the data points of the lower time frame indicator.