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RSI - Thinkscript question...
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RSI - Thinkscript question...

  #1 (permalink)
Trading Apprentice
NY, NY
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: Stocks, ETFs
 
Posts: 30 since Dec 2011
Thanks: 19 given, 5 received

RSI - Thinkscript question...

I'm having trouble trying to programmatically add a custom colored "cloud"
a/k/a fill to an RSI study to highlight overbought and oversold conditions as shown below...

FYI, I have been able to successfully plot the shaded overbought (>95) and oversold(<5)
conditions, but I am unable to remove the the unwanted shading between 95 and 5...

Any help/assistance would be greatly appreciated. Thanks in advance...

declare lower;
declare zerobase;

input RSIlength = 2;
input priceH = high;
input priceL = low;
input priceC = close;
input smoothingType = 1;
input over_bought = 95;
input over_sold = 5;

def sf = 1 / RSIlength;

def NetChgAvg = Ema2(data = priceC - priceC[1], prefetch = RSIlength, "smoothing factor" = sf);
def TotChgAvg = Ema2(data = AbsValue(priceC - priceC[1]), prefetch = RSIlength, "smoothing factor" = Sf);

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

plot RSI = 50 * (ChgRatio + 1);
RSI.SetDefaultColor(CreateColor(0, 102, 204));
RSI.SetLineWeight(2);

plot OverBought = over_bought;
#OverBought.SetDefaultColor(GetColor(4));
OverBought.hide();

AddCloud(RSI, over_bought, Color.red, Color.red);

plot OverSold = over_sold;
#OverSold.SetDefaultColor(GetColor(4));
OverSold.hide();

AddCloud(RSI, over_sold, Color.red, Color.red);

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  #2 (permalink)
Trading Apprentice
NY, NY
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: Stocks, ETFs
 
Posts: 30 since Dec 2011
Thanks: 19 given, 5 received

RSI - Thinkscript question...

Since my previous post was my fourth, I was unable to post an image to go with the code example, which does a much better job of illustrating what I am trying to accomplish. Hopefully, with this, my fifth post, you should be able to view the image...

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

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  #3 (permalink)
Trading Apprentice
NY, NY
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: Stocks, ETFs
 
Posts: 30 since Dec 2011
Thanks: 19 given, 5 received

Re: RSI - Thinkscript question...


I worked it out with a little help from a ThinkScripter. Below is the final script for any/all interested parties to review...

declare lower;
declare zerobase;

input RSIlength = 2;
input KPeriod = 14;
input DPeriod = 3;
input priceH = high;
input priceL = low;
input priceC = close;
input smoothingType = 1;
input over_bought = 95;
input over_sold = 5;


def sf = 1 / RSIlength;

def NetChgAvg = Ema2(data = priceC - priceC[1], prefetch = RSIlength, "smoothing factor" = sf);
def TotChgAvg = Ema2(data = AbsValue(priceC - priceC[1]), prefetch = RSIlength, "smoothing factor" = Sf);

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

plot RSI = 50 * (ChgRatio + 1);
RSI.SetDefaultColor(CreateColor(0, 102, 204));
RSI.SetLineWeight(2);

plot OverBought = over_bought;
#OverBought.SetDefaultColor(GetColor(4));
OverBought.hide();

AddCloud(if RSI>=95 then RSI else double.nan, over_bought, Color.yellow, Color.yellow);

plot OverSold = over_sold;
#OverSold.SetDefaultColor(GetColor(4));
OverSold.hide();

AddCloud(if RSI<=5 then RSI else double.nan, over_sold, Color.yellow, Color.yellow);

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