mslattery@dc.rr.com
91 posts
msg #98711
- Ignore mslattery@dc.rr.com |
1/23/2011 2:54:58 AM
I came across this "Profits" filter that plots OB & OS prices right on the candle chart. It looks useful. I searched this site and could not find anything that seem to duplicate it.
Here is a link to the posting: http://www.protradingindicators.com/tradestation-indicators/dig-predictive-rsi
If anyone is aware of a filter on SF that replicates this. I would love to know about it.
The link above states that it's produced by deconstructing RSI.
Thanks All!
Michael
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mslattery@dc.rr.com
91 posts
msg #98714
- Ignore mslattery@dc.rr.com
modified |
1/23/2011 1:02:13 PM
Now that I am awake I went back and read the description again.
The Indicator plots on the Chart future Prediction of the price movement need to reach the Over Sold and Over Bought Zones.
The indicator consists of 2 Lines the Upper line indicates the Future Price needed so that the RSI will reach the OverBought Zone. The Lower line indicates the Future Price needed so that the RSI will reach the OverSold Zone.
Hope this adds some light to the question which becomes how do you calculate the difference between current price and the values that would make it reach 80 or 20?
It's a relatively simple process to subtract the current RSI from 100 and determine the difference between 80 and 20 but that does not provide you with the current price value to obtain those values.
In over my head on this one. Hope someone can assist?
Thanks, Michael
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smartguy
47 posts
msg #99304
- Ignore smartguy |
2/21/2011 3:11:08 PM
This might not be exactly what you had in mind, but you can plug in any stock you are watching and sort of solve the predicitve part of predicitve RSI/ You can plug iin any value you wish - http://www.tradingmarkets.com/free-tools/rsi-solver
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