Question from TS EasyLanguage newbie

Hi, I'm a TradeStation EasyLanguage newbie and I'm trying to make a ShowMe for a 1-bar RSI-divergence with a price-high.

I want a dot on the current bar if the current bar is higher (or equally high) as the previous bar, and RSI is lower than (or equal to) the previous RSI-value.

Something like this:

Code:

Input: RSI(5);
If High >= high[1] AND RSI[0] < RSI[1] then
begin
Plot1 (Close, "rsi");
end;

Only problem is, this doesn't work. I get a dot on every bar where high[0) >=high[1], so the RSI-values are NOT taken into account.

Can anybody help me?

Thanks from SonnyPlunger

 

Because RSI is an indicator. If you declared it as an input, it will override the indicator function.

Try this:

Code:

inputs:
	Offset(1),
	Price( Close ),
	Length( 14 ),
	OverSold( 30 ),
	OverBought( 70 ),
	OverSColor( Cyan ), 
	OverBColor( Red ) ;

variables:  var0( 0 ) ;

var0 = RSI( Price, Length ) ;
 

if high >= high[1] and var0 < var0[1] then
plot1(high + offset, "RSI");

                  
if var0 > OverBought then 
	SetPlotColor( 1, OverBColor ) 
else if var0 < OverSold then 
	SetPlotColor( 1, OverSColor ) ;

 

You're not calculating the RSI in your code.

Add something like this:

Code:

inputs:
	Price( Close ),
	Length( 14 );

variables:  MyRSI( 0 ) ;

MyRSI = RSI( Price, Length ) ;

Then use MyRSI everytime you want to reference the RSI value.

-eLindy

 

oops - looks like someone else posted while I was posting.

-eLindy

 

Yours is a more elegant solution...

You are using RSI the function,

while I have copied RSI the indicator and modified the plot to draw the dot.

 

To Tums and elindydotcom,

WOW! Fast replies! I tried both your suggestions, and both worked!

Thanks a LOT to both of you, much appreciated!

Regards, Sonny Plunger

 

Can I hone in on this thread with an RSI request?

My oversold RSI setting is 25. I'd like an alarm to trigger when it equals or goes lower than 25. But I don't need it to tell me when it exits, or when it reaches the overbought line, or when it leaves that etc etc etc.

I can't seem to get it to alarm simply on the equaling or dropping lower than 25.

 

Can't you simply use the built-in alert?

or, if you post your code modification, I can take a look for you.

 

That's the problem. Using the built in system alert cause the alarm to trigger with any break down or out of the RSI. I simply want the alarm to signal when it hits 25 or lower.

I'm not using any code at all. Simply the right click on the RSI line:Alert:Enable Alert

 

ok, here's the modified code. You should save it under a different name.
I have blocked out the unwanted original code with green {}, and added modifications in red.

Code:

inputs:
	Price( Close ),
	Length( 14 ),
	OverSold( 30 ),
	OverBought( 70 ),
	OverSColor( Cyan ), 
	OverBColor( Red ) ;

variables:  var0( 0 ) ;

var0 = RSI( Price, Length ) ;
 
Plot1( var0, "RSI" ) ;
Plot2( OverBought, "OverBot" ) ;
Plot3( OverSold, "OverSld" ) ;

                  
if var0 > OverBought then 
	SetPlotColor( 1, OverBColor ) 
else if var0 < OverSold then 
	SetPlotColor( 1, OverSColor ) ;

condition1 = var0 crosses [color=green]{over}[/color] [color=red]under[/color] OverSold ;
if condition1 then
	Alert( "Indicator [color=red]Entering[/color] oversold zone" )[color=red];[/color]
	
[color=green]{else 
begin 
condition1 = var0 crosses under OverBought ;
if condition1 then
	Alert( "Indicator exiting overbought zone" ) ;
end;}[/color]