■Purpose of this script Back-calculate the stock price limit based on the RSI formula
■Logic overview This time, RSI calculation formula by Cutler is adopted.
In this formula, RSI is calculated from the ratio of the sum of price movements and the sum of price increases during a fixed period.
This script back-calculates future stock prices from past stock price data and set RSI values.
Therefore, you can receive the offer of the buy price in the oversold phase and the offer of the sell price in the overbought phase with reference to the RSI index.
■How to use ・Enter the following on the parameters input screen
・sauce (usually close)
・Reference period（14 is optimal by J.W. Wilder）
・RSI target value (Generally, buy below 30 and sell above 70）
・When to ask for stock price (After the latest bar closing price is decided: next. The latest bar is moving: current.） For example, when selecting a daily chart, before trading hours: [before], during trading hours: [current] when selecting a weekly chart, the closing price is not fixed, for example on Wednesday: [current]
hello sir if possible can i know the code for RSI back-calculation ?
tom007on
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totally useless
Manakana77
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■How to use ・Enter the following on the parameters input screen
・sauce (usually close)
・Reference period（14 is optimal by J.W. Wilder）
・RSI target value (Generally, buy below 30 and sell above 70）
・When to ask for stock price (After the latest bar closing price is decided:【next】. The latest bar is moving:【current】.） For example, when selecting a daily chart , before trading hours:【next】, during trading hours:【current】
hello sir, can you make a calculator for a required price value to achieve a specific rsi level?
Manakana77
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@rzrvck, Thanks for using. After adding the indicator, enter the RSI level in the "RSI target value" field in the settings, and you will get the stock price.
Manakana77
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@rzrvck, After adding the indicator, enter the RSI level in the "RSI target value" field in the settings, and you will get the stock price.