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moving average of RSI in ThinkOrSwim
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moving average of RSI in ThinkOrSwim

  #1 (permalink)
skrubtrader
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Futures Experience: Intermediate
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Favorite Futures: ES,TF,CL
 
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moving average of RSI in ThinkOrSwim

how to create a moving average of RSI in ThinkOrSwim PLEASE

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  #3 (permalink)
Elite Member
San Diego, CA/United States
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: ES, CL, 6A
 
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Here you go:

declare lower;

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input RSI_smoothing_averageType = AverageType.exponential;
input RSI_smoothing_length = 10;

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;

def RSI = 50 * (ChgRatio + 1);
plot OverSold = over_Sold;
plot OverBought = over_Bought;

plot RSI_moving_average = MovingAverage(RSI_smoothing_averageType, RSI, RSI_smoothing_length);

RSI_moving_average.DefineColor("OverBought", GetColor(5));
RSI_moving_average.DefineColor("Normal", GetColor(7));
RSI_moving_average.DefineColor("OverSold", GetColor(1));
RSI_moving_average.AssignValueColor(if RSI > over_Bought then RSI_moving_average.color("OverBought") else if RSI < over_Sold then RSI_moving_average.color("OverSold") else RSI_moving_average.color("Normal"));
OverSold.SetDefaultColor(GetColor(8));
OverBought.SetDefaultColor(GetColor(8));

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skrubtrader
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Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES,TF,CL
 
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Posts: 182 since Mar 2012
Thanks: 300 given, 130 received

Thank you

Thanks so much, how to I get the code from here to the platform?

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  #5 (permalink)
Elite Member
San Diego, CA/United States
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: ES, CL, 6A
 
Posts: 16 since Apr 2015
Thanks: 2 given, 8 received

No worries.

Highlight and copy all the code I supplied. Open ThinkorSwim and go to charts, then click studies-->edit studies. A window will pop up and select "new" in the bottom left corner. A new script window will pop up. Clear out the window of any text code in there and paste the code you copied. You can change the name at the top of the window if you like. Hit "ok" and the indicator is now available.

Keep me posted on how it works for you. If you need any others let me know. I may be able to code it or already may have it coded.
-Jeff

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