// Downloaded From https://www.WiseStockTrader.com
/* File:          RSI Guru Commentary
** Requirements:  AmiBroker 3.0 (AFL 1.1)
** Last Modified: TJ, Mar 22nd, 1999 
*/

"Review of " + Name() +" as of "+Date();

vrsi = RSI( 14 );

Buy = Cross( vrsi, 30 );
Sell = Cross( 70, vrsi );

"\nThe current value for the 14 day RSI is " + WriteVal( vrsi );

"\nThe RSI, written by J. Welles Wilder in 1978, can be used in several
different ways to analyze a chart.\n";

"Tops and Bottoms";
"================\n";

WriteIf( vrsi > 70, "The RSI is above 70.  This is where it usually tops.  The
RSI usually forms tops AND bottoms before the underlying security.",
WriteIf( vrsi < 30, "The RSI is below 30.  This is where it usually bottoms. 
The RSI usually forms tops AND bottoms before the underlying security.",
"The RSI is not currently in a topping (above 70) or bottoming (below 30)
range. " 
+ WriteIf( Cross( 70, vrsi ), "However, the RSI just crossed below 70 from a
topping formation.  This is a bearish sign.",
WriteIf( Cross( vrsi, 30 ), "However, the RSI just crossed above 30 from a
bottoming formation.  This is a bullish sign.", "" ) ) ) ); 

bars30 = BarsSince( Buy );
bars70 = BarsSince( Sell );

"\nBuy/Sell signals";
  "================\n";

"A buy or sell signal is generated when the RSI moves out of an
overbought/oversold area. \nThe last Signal was a "+
WriteIf( bars30 < bars70, "buy", WriteIf( bars30 > bars70, "sell", "" ))+
WriteVal( Min( bars30, bars70 ), 3.0 ) + " period(s) ago.";

"\nChart Formations";
  "================\n";

"The RSI often forms chart patterns (such as head and shoulders or rising
wedges) that may OR may NOT be visible on the price chart.  "+
"Since the analysis of chart patterns is subjective, the Guru Advisor cannot
find them.  You will have to visually inspect the RSI indicator to look for such
patterns.";

"\nFailure Swings (also known as support or resistance penetrations or
breakouts";
 
"=============================================================================\n";

WriteIf( vrsi >= HHV( vrsi, 14 ), "The RSI has just reached its highest value
in the last 14 period(s).  This is bullish.",
WriteIf( vrsi <= LLV( vrsi, 14 ), "The RSI has just reached its lowest value in
the last 14 period(s).  This is bearish.",
"The RSI does not currently show any Failure Swings." ) );

"\nSupport and Resistance";
  "======================\n";
"The RSI shows, sometimes more clearly than the price chart, levels of support
AND resistance."+
"As with chart formations, this is subjective, so you must visually inspect the
chart to determine this.";

"\nDivergence";
  "==========\n";

WriteIf( Close >= HHV( Close, 14 ) AND vrsi < HHV( vrsi, 14 ), 
"The security price has set a new 14-day high while the RSI has not.  This is a
bearish Divergence.",
WriteIf( vrsi >= HHV( vrsi, 14 ) AND Close < HHV( Close, 14 ), 
"The RSI has set a new 14-day high while the security price has not.  This is a
bullish Divergence.",
WriteIf( Close <= LLV( Close, 14 ) AND vrsi > LLV( vrsi, 14 ), 
"The security price has set a new 14-day low while the RSI has not.  This is a
bullish Divergence.",
WriteIf( vrsi <= LLV( vrsi, 14) AND Close > LLV(Close,14), 
"The RSI has set a new 14-day low while the security price has not.  This is a
bearish Divergence.",
"The RSI and price are not diverging." ) ) ) );