2011 Jan: Combining RSI with RSI

[eSignal]

File Name: RSIwithRSI.efs

Description:
Combining RSI with RSI by Peter Konner

Formula Parameters:
Length of Slow RSI: 17
Length of Quick RSI: 5
Length of Slow MA: 40
Length of Quick MA: 10
Slow RSI Buy Level: 61
Slow RSI Sell Level: 39
Quick RSI Buy Level: 61
Quick RSI Sell Level: 39


Notes:
The related article is copyrighted material. If you are not a subscriber of Stocks & Commodities, please visit
www.traders.com.

Download File:
RSIwithRSI.efs



EFS Code:

/*********************************
Provided By:  
    Interactive Data Corporation (Copyright © 2010) 
    All rights reserved. This sample eSignal Formula Script (EFS)
    is for educational purposes only. Interactive Data Corporation
    reserves the right to modify and overwrite this EFS file with 
    each new release. 
    
Description:        
    Combining RSI with RSI by Peter Konner
 
Version:            1.0  11/11/2010

Formula Parameters:                     Default:
    Length of Slow RSI:                  17
    Length of Quick RSI:                 5
    Length of Slow MA:                   40
    Length of Quick MA:                  10
    Slow RSI Buy Level:                  61
    Slow RSI Sell Level:                 39
    Quick RSI Buy Level:                 61
    Quick RSI Sell Level:                39
    
    
Notes:
    The related article is copyrighted material. If you are not
    a subscriber of Stocks & Commodities, please visit
[url]www.traders.com[/url].

**********************************/
var fpArray = new Array();
var bVersion = null;
function preMain()
{
    setShowTitleParameters(false);
    setColorPriceBars(true);
    setDefaultBarFgColor(Color.green,0);
    setDefaultBarFgColor(Color.red,1);
    setShowCursorLabel(false);

    var x=0;
    fpArray[x] = new FunctionParameter("gSlowRSILen", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Length of Slow RSI");
    setLowerLimit(1);
        setDefault(17);
    }
    fpArray[x] = new FunctionParameter("gQuickRSILen", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Length of Quick RSI");
    setLowerLimit(1);
        setDefault(5);
    }
    fpArray[x] = new FunctionParameter("gSlowMALen", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Length of Slow MA");
    setLowerLimit(1);
        setDefault(40);
    }
    fpArray[x] = new FunctionParameter("gQickMALen", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Length of Quick MA");
    setLowerLimit(1);
        setDefault(10);
    }
    fpArray[x] = new FunctionParameter("gSlowBuyRSI", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Slow RSI Buy Level");
    setLowerLimit(1);
        setDefault(61);
    }
    fpArray[x] = new FunctionParameter("gSlowSellRSI", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Slow RSI Sell Level");
    setLowerLimit(1);
        setDefault(39);
    }    
    fpArray[x] = new FunctionParameter("gQuickBuyRSI", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Quick RSI Buy Level");
    setLowerLimit(1);
        setDefault(61);
    }
    fpArray[x] = new FunctionParameter("gQuickSellRSI", FunctionParameter.NUMBER);
    with(fpArray[x++])
    {
    setName("Quick RSI Sell Level");
    setLowerLimit(1);
        setDefault(39);
    }            
}

var xCls = null;
var xSlowMA = null;
var xQuickMA = null;
var xSlowRSI = null;
var xQuickRSI = null;
var bInit = false;
var b1 = false;
var b2 = false;
var b3 = false;
var b4 = false;
var b5 = false;
var b6 = false;
var i=0;
function main( gSlowRSILen, gQuickRSILen, gSlowMALen, gQickMALen, 
                gSlowBuyRSI, gSlowSellRSI, gQuickBuyRSI, gQuickSellRSI ) 
{
    if (bVersion == null) bVersion = verify();
    if (bVersion == false) return;   

    if (!bInit)
    {
        xCls = close();
        xSlowMA = sma(gSlowMALen);
        xQuickMA = sma(gQickMALen);
        xSlowRSI = rsi(gSlowRSILen);
        xQuickRSI = rsi(gQuickRSILen);
        bInit = true;
    }

    var vCls = xCls.getValue(0);

    var vSlowRSI1 = xSlowRSI.getValue(-2);
    var vSlowRSI0 = xSlowRSI.getValue(-1);
    var vSlowMA = xSlowMA.getValue(-1);
    
    var vQuickRSI1 = xQuickRSI.getValue(-2);
    var vQuickRSI0 = xQuickRSI.getValue(-1);
    var vQuickMA = xQuickMA.getValue(-1);
    
    var vSlowRSICur = xSlowRSI.getValue(0);
    var vQuickRSICur = xQuickRSI.getValue(0);
    
    b1 = (vSlowRSI1<=gSlowBuyRSI && vSlowRSI0>gSlowBuyRSI && vCls>vSlowMA);
    b2 = ((vSlowRSI1>=gSlowSellRSI && vSlowRSI0<gSlowSellRSI )|| vCls<vSlowMA);
    
    if (!b1 && b2) {b3=false; b4=true}
    else if (b1 && !b2) {b3=true; b4=false};

    b1 = (vQuickRSI1<=gQuickBuyRSI && vQuickRSI0>gQuickBuyRSI && vCls>vQuickMA && b4);
    b2 = (vQuickRSI1>=gQuickSellRSI && vQuickRSI0<gQuickSellRSI)||(vCls<vQuickMA);
    
    if (!b1 && b2){b5=false; b6=true}
    else if (b1 && !b2){b5=true; b6=false}
    
    b1 = (b3 && b5)||(b3 && b6)||(b4 && b5);
    b2 = (b4 && b6);
    
    if (Strategy.isLong())
    {
        if (b2)
        {
            drawShapeRelative(0, TopRow2,  Shape.DOWNTRIANGLE, null, Color.red, Shape.PRESET, "sell"+(i++)); 
            drawTextRelative(0, TopRow1, " Sell ", Color.white, Color.red, 
                            Text.PRESET | Text.CENTER, "Arial", 10, "sell"+(i++));
            setPriceBarColor(Color.red);
            Strategy.doSell("Long Exit Signal", Strategy.MARKET, Strategy.THISBAR);
        }
    }
    else
    {
        if (b1)
        {
            drawShapeRelative(0, TopRow1,  Shape.UPTRIANGLE, null, Color.green, Shape.PRESET, "buy"+(i++)); 
            drawTextRelative(0, TopRow2, " Buy ", Color.white, Color.green, 
                            Text.PRESET | Text.CENTER, "Arial", 10, "buy"+(i++));
            setPriceBarColor(Color.green);
            Strategy.doLong("Entry Long", Strategy.MARKET, Strategy.THISBAR);
        }

    }
    if (Strategy.isLong())
    {
       setBarBgColor(Color.yellow);
    }
    
    return new Array (vQuickRSICur, vSlowRSICur, gSlowBuyRSI,gSlowSellRSI,gQuickBuyRSI,gQuickSellRSI);
}

function verify() {
    var b = false;
    if (getBuildNumber() < 779) {
        drawTextAbsolute(5, 35, "This study requires version 8.0 or later.", 
            Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
            null, 13, "error");
        drawTextAbsolute(5, 20, "Click HERE to upgrade.@URL=http://www.esignal.com/download/default.asp", 
            Color.white, Color.blue, Text.RELATIVETOBOTTOM|Text.RELATIVETOLEFT|Text.BOLD|Text.LEFT,
            null, 13, "upgrade");
        return b;
    } else {
        b = true;
    }
    return b;
}