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Is MC. NET RSI CORRECT?
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Is MC. NET RSI CORRECT?

  #1 (permalink)
Trading Apprentice
Surrey - UK
 
Trading Experience: Intermediate
Platform: IB+SIERRA+AMIBROKER+TOS
Favorite Futures: Futures / Options
 
Posts: 41 since Sep 2015
Thanks: 12 given, 6 received

Is MC. NET RSI CORRECT?

Hi There,

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

Feedback be great thanks,
RSI CALCULATION



THINK OR SWIM - (CORRECT ONE WHICH STRATEGY IS BASED OFF)





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"));

OverSold.SetDefaultColor(GetColor(8));

OverBought.SetDefaultColor(GetColor(8));



























MC.NET RSI CODE



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) :

base(ctx){

overbcolor = Color.Red;

overscolor = Color.Cyan;

overbought = 70;

oversold = 30;

length = 14;

}



[Input]

public int length { get; set; }



[Input]

public double oversold { get; set; }



[Input]

public double overbought { get; set; }



[Input]

public Color overscolor { get; set; }



[Input]

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;

}

else{

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

Plot1.Colors[0] = overscolor;

}

}

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

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

}

else{

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

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

}

}

}

}

}

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  #2 (permalink)
 Vendor: tradingcode.net 
The Netherlands
 
Trading Experience: None
Platform: MultiCharts, TradingView
Favorite Futures: ...
 
Jura's Avatar
 
Posts: 774 since Apr 2010
Thanks: 2,347 given, 667 received


alex27 View Post
I have based a strategy off RSI in the think or swim platform, moving over to automation with mc.net 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
 
Trading Experience: Intermediate
Platform: IB+SIERRA+AMIBROKER+TOS
Favorite Futures: Futures / Options
 
Posts: 41 since Sep 2015
Thanks: 12 given, 6 received

MC EXPERT


Yes got it roughly working the same now

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