RSI overbought-oversold.efs

[jamest]

Hi
what exactly does the RSI overbought-oversold.efs do? (under chart options, formulas, wizards, alerts)
Does it create an audio alert?

Cheers

[ACM]

jamest
It triggers the Alert List
Alex

[Timber]

RSI overbot-oversold

How does this formula work?

I am looking for a formula that alerts (audio/ pop-up) me when the rsi levels are above 70 or below 30?

thanks,
Timber

[ACM]

Timber
The attached efs will play a sound and trigger an alert window when the RSI goes above or below user defined levels (defaults are 70 and 30).
This efs is similar to the one that is in the Wizard->Alerts subfolder of Formulas with the difference that in this one all parameters for the RSI and threshold levels can be modified through Edit Studies.
Alex

[Timber]

Alex,

I downloaded your formula and it does not seem to work. I have not seen any alerts when the rsi hits 30 or 70. Am I doing something wrong?

Timber

[ACM]

Timber
I just ran the efs and the alerts can be seen in the inset Triggered Alert List. For purpose of this example I set the Upper threshold to 50 while leaving the Lower at 30.
One thing to consider is that as in the RSI Overbought-Oversold efs in the Wizard->Alerts folder the alerts reset only after they have moved to the opposite range, in other words they will not alert on multiple crosses in the same range.
If you prefer to have it alert on every cross in either range then that should be a relatively easy modification.
Alex

[Timber]

Alex,

Is there any way to have the alert reset every time the rsi comes out of the threshold and reenters? For example if the rsi ticks down to 29 it alerts me of this. Then the rsi climbs back into neutral territory and returns to the oversold level to trigger another alert.

Thanks,
Timber

[ACM]

Timber
The attached revision will reset the alerts every time the RSI goes back into neutral range
At this point you should have enough examples if you wish to modify the conditions further
Alex