looking for simple study LBR/RSI--does it already exist?

[kathesig]

Hello, wondering if anyone can help me with a simple study of a study recommended in Linda Bradford Raschke's
Street Smarts:
It is a 3 period RSI of the momentum change . It is described thusly: "This pattern uses a one-period rate of change or 'momentum' function. This is simply the difference between today's close and yesterday's close. I.e., if today's closing price is 592 and yesterday's closing price was 596, the difference is -4. A three-period RSI of this one-period change is calculated." Most software charting pkgs allow the user to do studies on studies in just this way ---- wondering if anyone has done this, or can show me how? Thanks,

[ACM]

Re: looking for simple study LBR/RSI--does it already exist?

kathesig
You can very easily write that study with a simple modification of the basicRSI.efs that is installed in the EFS2 Basic subfolder of the Formulas folder. Open the formula with the EFS Editor and replace the following line of code
return rsi(14);
with the following
return rsi(3, mom(1));
This will calculate the 3 period RSI of a 1 period Momentum
Then save the script with a new name of your choice.
For information on the rsi() and mom() functions see the links to the corresponding articles in the EFS KnowledgeBase where you will also find some basic examples on how to use these functions (including one that shows how to use it in the context of a study on study). More examples can also be found in this thread
Alex

Originally posted by kathesig
Hello, wondering if anyone can help me with a simple study of a study recommended in Linda Bradford Raschke's
Street Smarts:
It is a 3 period RSI of the momentum change . It is described thusly: "This pattern uses a one-period rate of change or 'momentum' function. This is simply the difference between today's close and yesterday's close. I.e., if today's closing price is 592 and yesterday's closing price was 596, the difference is -4. A three-period RSI of this one-period change is calculated." Most software charting pkgs allow the user to do studies on studies in just this way ---- wondering if anyone has done this, or can show me how? Thanks,

[kathesig]

Thank you Alexis.
When I attempt to open my "basicRSI.efs" folder I get a dialog saying this folder was not recognized by the Formula Wizard, Do you wish to open a new, empty folder instead.....?????? not sure how to proceed. thanks!

[ACM]

kathesig
You need to use the EFS Editor to modify the formula and not the Formula Wizard.
From the main menu of eSignal select Tools-> EFS-> Editor. Then in the Formula Editor window click the Open Formula button and navigate to the folder I indicated in my previous message. Then either double click the file name or select it and click the Open button.
Once you have made your changes use the Save Formula As button to save the revised script with a different name.
Alex

Originally posted by kathesig
Thank you Alexis.
When I attempt to open my "basicRSI.efs" folder I get a dialog saying this folder was not recognized by the Formula Wizard, Do you wish to open a new, empty folder instead.....?????? not sure how to proceed. thanks!

[kathesig]

I figured it out! Thanks again.......

[ACM]

kathesig
You are most welcome
Alex

Originally posted by kathesig
I figured it out! Thanks again.......