RSI of ROC

[JayF]

File Name: RSI_ROC.efs

Description:
RSI based on ROC

Formula Parameters:
Length of RSI : 20
Length of ROC : 20
Source of ROC : Close
Upper : 70
Lower : 30


Notes:
This is the new-age indicator which is version of RSI calculated upon
the Rate-of-change indicator.
The name "Relative Strength Index" is slightly misleading as the RSI
does not compare the relative strength of two securities, but rather
the internal strength of a single security. A more appropriate name
might be "Internal Strength Index." Relative strength charts that compare
two market indices, which are often referred to as Comparative Relative Strength.
And in its turn, the Rate-of-Change ("ROC") indicator displays the difference
between the current price and the price x-time periods ago. The difference can
be displayed in either points or as a percentage. The Momentum indicator displays
the same information, but expresses it as a ratio.


Download File:
RSI_ROC.efs



EFS Code:

/*********************************
Provided By:  
    eSignal (Copyright c eSignal), a division of Interactive Data 
    Corporation. 2009. All rights reserved. This sample eSignal 
    Formula Script (EFS) is for educational purposes only and may be 
    modified and saved under a new file name.  eSignal is not responsible
    for the functionality once modified.  eSignal reserves the right 
    to modify and overwrite this EFS file with each new release.

Description:        
    RSI based on ROC
     
Version:            2.0  04/28/2009
    
Formula Parameters:                     Default:
    Length of RSI                       20
    Length of ROC                       20
    Source of ROC                       Close
    Upper                               70
    Lower                               30
    
Notes:
    This is the new-age indicator which is version of RSI calculated upon 
    the Rate-of-change indicator.
    The name "Relative Strength Index" is slightly misleading as the RSI 
    does not compare the relative strength of two securities, but rather 
    the internal strength of a single security. A more appropriate name 
    might be "Internal Strength Index." Relative strength charts that compare 
    two market indices, which are often referred to as Comparative Relative Strength.
    And in its turn, the Rate-of-Change ("ROC") indicator displays the difference 
    between the current price and the price x-time periods ago. The difference can 
    be displayed in either points or as a percentage. The Momentum indicator displays 
    the same information, but expresses it as a ratio.

**********************************/
var fpArray = new Array();
var bInit = false;

function preMain() {
    setStudyTitle("RSI(ROC)"); 
    setCursorLabelName("RSI(ROC)",0);
    setShowTitleParameters(false);        
    setDefaultBarFgColor(Color.blue,0);
    setStudyMax(101);
    setStudyMin(-1);
    var x = 0;
    fpArray[x] = new FunctionParameter("RSILength", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setName("Length of RSI");
        setLowerLimit(1);
        setDefault(20);
    }
    fpArray[x] = new FunctionParameter("ROCLength", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setName("Length of ROC");
        setLowerLimit(1);
        setDefault(20);
    }
    fpArray[x] = new FunctionParameter("Upper", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(0);
        setDefault(70);
    }
    fpArray[x] = new FunctionParameter("Lower", FunctionParameter.NUMBER);
    with(fpArray[x++]) {
        setLowerLimit(0);
        setDefault(30);
    }
    fpArray[x] = new FunctionParameter("Source", FunctionParameter.STRING);
    with(fpArray[x++]){
        setName("Source of ROC");
        addOption("open"); 
        addOption("high");
        addOption("low");
        addOption("close");
        addOption("hl2");
        addOption("hlc3");
        addOption("ohlc4"); 
        setDefault("close"); 
    }    
}

var xRSI = null;

function main(RSILength, ROCLength, Source, Upper, Lower) {
var nBarState = getBarState();
var nRSI = 0;
    if (nBarState == BARSTATE_ALLBARS) {
        if(RSILength == null) RSILength = 20;
        if(ROCLength == null) ROCLength = 20;
        if(Source == null) Source = "close";
        if(Upper == null) Upper = 70;
        if(Lower == null) Lower = 30;
    }
    if (bInit == false) {
        addBand(Upper, PS_SOLID, 2, Color.grey, "Upper");
        addBand(Lower, PS_SOLID, 2, Color.grey, "Lower");        
        xRSI = rsi(RSILength, roc(ROCLength, eval(Source)()));
        bInit = true;
    }
    nRSI = xRSI.getValue(0);
    if (nRSI == null) return;
    return nRSI;
}