Hi Nilesh
If you have either of the MF1 or MF2 Multi-Frame kits for MetaStock you can
make a copy of the "D" or "D+" series RSI indicators and set the default
user inputs to Weekly and Monthly timeframes and 14 Periods respectively.
See www.metastocktips.co.nz/products
Assuming your exploration is as follows...
{ColA}
Cross(RSI(14),40);
then you could add columns B and C as follows...
{ColB}
Cross(Fml(Multi-Frame D RSI W"),40);
{ColC}
Cross(Fml(Multi-Frame D RSI M"),40);
There are around 150 multi-timeframe indicators in each of 6 series, and
these allow you to code explorations and systems encompassing two, three or
even four timeframes. There are, however, restrictions with Multi-Frame
formulas that you need to be aware of. For example, a 14 Period monthly RSI
would need as much as 6 years of daily data to produce a truly accurate
result. This is partly due to the monthly timeframe but mainly down to the
fact that RSI uses Wilders Smoothing internally, and the Wilders() function
needs about 5 times as much data as the nominated Periods value because
Wilders() is essentially a slow Exponential Moving Average (an Exponential
Moving Average uses fragments of ALL data bars available, not just the
nominated Periods range).
While not advertised on my website ( www.metastocktips.co.nz
<http://www.metastocktips.co.nz/products> / www.metastocktips.com ), during
November and December 2014 I'm refunding 50% of all product payments. The
Donate button on the Products page can be used to make a discounted payment
without the need to wait for a refund.
Regards
Roy
[email protected]
_____
From: [email protected] [mailto:[email protected]]
Sent: Thursday, 6 November 2014 1:01 a.m.
To: [email protected]
Subject: [EquisMetaStock Group] Can anyone tell me the symbol for weekly and
monthly RSI
Hello,
As we use ((RSI(14)),40) to check Daily RSI above 40 scrip scan in
Metastock,
What can we use to scan scrips whose Weekly and Monthly RSI is abv 40
Could anyone help me out,
thanx in advance
--
Thanks and Regards,
Nilesh Thorat.
