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Better RSI vizualization for trend finder for Amibroker (AFL)

Rating:
4 / 5 (Votes 7)
Tags:
oscillator, amibroker

This RSI will give you better visualization for overbrought and oversold condition. Also it give you idea about RSI divergence. Positive divergence : RSI is forming rising high where as price is forming falling low. That means market will go up. Also is easy to visualize just the opposite one RSI negative divergence.

Screenshots

Indicator / Formula

Copy & Paste Friendly
_SECTION_BEGIN("RSIMinMax");
SetChartOptions(0,0,chartGrid30|chartGrid50|chartGrid70);
periods = Param( "Periods", 14, 2, 200, 1 );
maxClip = Param( "maxClip", 80, 1, 100, 1 );
minClip = Param( "minClip", 20, 1, 100, 1 );


 
Plot( RSI( periods), _DEFAULT_NAME(), ParamColor( "Color", colorCycle ),
ParamStyle("Style") );
 
r = RSI(periods);
PlotOHLC( r,r,50,r, "", IIf( r > 50, colorRed, colorBrightGreen ), styleCloud |
styleNoLabel | styleClipMinMax, minClip, maxClip );

max1Clip = Param( "max1Clip", 70, 1, 100, 1 );
min1Clip = Param( "min1Clip", 30, 1, 100, 1 );

r = RSI(periods);
PlotOHLC( r,r,50,r, "", IIf( r > 50, colorBlue, colorOrange ), styleCloud |
styleNoLabel | styleClipMinMax, min1Clip, max1Clip );

max2Clip = Param( "max2Clip", 55, 1, 100, 1 );
min2Clip = Param( "min2Clip", 45, 1, 100, 1 );

r = RSI(periods);
PlotOHLC( r,r,50,r, "", IIf( r > 50, colorYellow, colorYellow ), styleCloud |
styleNoLabel | styleClipMinMax, min2Clip, max2Clip );

max3Clip = Param( "max3Clip", 46, 1, 100, 1 );
min3Clip = Param( "min3Clip", 54, 1, 100, 1 );

r = RSI(periods);
PlotOHLC( r,r,50,r, "", IIf( r > 50, colorGreen, colorRed ), styleCloud |
styleNoLabel | styleClipMinMax, min3Clip, max3Clip );
_SECTION_END();

7 comments

1. kv_maligi

Good one.

Max & min limits are 80 and 20? or 70 & 30 ?

thanks
viswanath

2. somanathdas

max and min 70 & 30

3. bchandra bhave

its a good afl…

4. mehra3580

superb

5. saifulislam656405

Good AFL

6. cvaji79

good afl ……
i need to do one coding …. an u help that ……

7. abbasi

Good AFL

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