Is MC. NET RSI CORRECT? - MultiCharts | futures io social day trading
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  #1 (permalink)
Trading Apprentice
Surrey - UK
Futures Experience: Intermediate
Favorite Futures: Futures / Options
Posts: 41 since Sep 2015
Thanks: 12 given, 6 received


Hi There,

I have based a strategy off RSI in the think or swim platform, moving over to automation with but im not sure if these 2 RSI's formulas are the same.

Feedback be great thanks,


declare lower;

input length = 14;

input over_Bought = 70;

input over_Sold = 30;

input price = close;

input averageType = AverageType.WILDERS;

def NetChgAvg = MovingAverage(averageType, price - price[1], length);

def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);

def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;

plot RSI = 50 * (ChgRatio + 1);

plot OverSold = over_Sold;

plot OverBought = over_Bought;

RSI.DefineColor("OverBought", GetColor(5));

RSI.DefineColor("Normal", GetColor(7));

RSI.DefineColor("OverSold", GetColor(1));

RSI.AssignValueColor(if RSI > over_Bought then RSI.color("OverBought") else if RSI < over_Sold then RSI.color("OverSold") else RSI.color("Normal"));




using System;

using System.Drawing;

namespace PowerLanguage.Indicator


public class RSI : IndicatorObject


private Function.RSI m_rsi1;

private VariableSeries<Double> m_myrsi;

private IPlotObject Plot1;

private IPlotObject Plot2;

private IPlotObject Plot3;

public RSI(object ctx) :


overbcolor = Color.Red;

overscolor = Color.Cyan;

overbought = 70;

oversold = 30;

length = 14;



public int length { get; set; }


public double oversold { get; set; }


public double overbought { get; set; }


public Color overscolor { get; set; }


public Color overbcolor { get; set; }

protected override void Create(){

m_rsi1 = new Function.RSI(this);

m_myrsi = new VariableSeries<Double>(this);

Plot1 =

AddPlot(new PlotAttributes("RSI", 0, Color.Silver,

Color.Empty, 0, 0, true));

Plot2 =

AddPlot(new PlotAttributes("OverBot", 0, Color.Green,

Color.Empty, 0, 0, true));

Plot3 =

AddPlot(new PlotAttributes("OverSld", 0, Color.Green,

Color.Empty, 0, 0, true));


protected override void StartCalc(){

m_rsi1.price = Bars.Close;

m_rsi1.length = length;


protected override void CalcBar(){

m_myrsi.Value = m_rsi1[0];

Plot1.Set(0, m_myrsi.Value);

Plot2.Set(0, overbought);

Plot3.Set(0, oversold);

if (PublicFunctions.DoubleGreater(m_myrsi.Value, overbought)){

Plot1.Colors[0] = overbcolor;



if (PublicFunctions.DoubleLess(m_myrsi.Value, oversold)){

Plot1.Colors[0] = overscolor;



if (this.CrossesOver(m_myrsi, oversold)){

Alerts.Alert("Indicator exiting oversold zone");



if (this.CrossesUnder(m_myrsi, overbought)){

Alerts.Alert("Indicator exiting overbought zone");






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  #2 (permalink)
The Netherlands
Futures Experience: None
Platform: MultiCharts, TradingView
Favorite Futures: ...
Jura's Avatar
Posts: 774 since Apr 2010
Thanks: 2,347 given, 665 received

alex27 View Post
I have based a strategy off RSI in the think or swim platform, moving over to automation with but im not sure if these 2 RSI's formulas are the same.

This isn't something that we can compare given the use of proprietary functions by both platforms. Have you tried outputting the computed data from each platform and compare the RSI scripts that way?

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  #3 (permalink)
Trading Apprentice
Surrey - UK
Futures Experience: Intermediate
Favorite Futures: Futures / Options
Posts: 41 since Sep 2015
Thanks: 12 given, 6 received


Yes got it roughly working the same now

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