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RSI Closing value by Alvarez for Amibroker (AFL)

Rating:
5 / 5 (Votes 1)
Tags:
amibroker, oscillator, rsi

Determines the closing value of a stock need to reach a particular RSI value
function ReverseRSI(nLen, rsiTarget)

Indicator / Formula

Copy & Paste Friendly
// Provided as is by www.AlvarezQuantTrading.com 

///////////////////  Reverse RSI Calculator  ////////////////////////
// Determines the closing value of a stock need to reach a particular RSI value
function ReverseRSI(nLen, rsiTarget)
{
	gain = Max(C-Ref(C,-1), 0);     
	loss = -Min(C-Ref(C,-1), 0);
	
	rsGain = IIf(BarIndex() < nLen-1,Null,   
				IIf(BarIndex()==nLen-1, MA(gain, nLen), gain));
	rsLoss = IIf(BarIndex() < nLen-1,Null,  
				IIf(BarIndex()==nLen-1, MA(Loss,nLen), Loss));
				
	rsGain = AMA(rsGain, 1/nLen); 
	rsLoss = AMA(rsLoss, 1/nLen);  
	
	RSIcalc = IIf(BarIndex()<nLen-1, Null, 100*rsGain/(rsGain+rsLoss));

	targetPrice = IIf( (rsiTarget < RSI(nLen)),
						C-100*(((nLen-1)*rsGain)/rsiTarget)+((nLen-1)*rsGain)+((nLen-1)*rsLoss),
						C+((rsiTarget/(100-rsiTarget)*((nLen-1)*rsLoss))-((nLen-1)*rsGain)) 
					 );
					 
	return targetPrice;
}
 
	
Filter = TRUE ;
AddColumn(C,"Close");
AddColumn(RSI(2), "RSI2");
AddColumn(ReverseRSI(2, 30),"RSI30-Next Day Price",1.3);
AddColumn(ReverseRSI(2, 70),"RSI70-Next Day Price",1.3);

3 comments

1. Arwall19

Hello c62
This AFL shows nothing. All blank.
Would you please tell how to use it.
Thanks.

2. administrator

It’s an exploration only. No chart.

3. ujjwal

hey man thanks for the code.. can you guide me how to plot the rsi using this formula and can we apply the range of rsi here ?

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