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Relative Strength Index - Custom IV

Formula for: MetaStock

Views: 2264

Added: December 16, 2007

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4

1 ratings

> Dear Sirs,
>
> It looks like other MetaStock users noticed the following fact:
>
> It seems that the calculation for RSI in MetaStock differs from the standard RSI calculation.
>
> I'm trying to "translate" my MetaStock trading system into an Excel sheet.
> And because my MetaStock trading system contains RSI, I need to "translate" the RSI calculation into Excel.
>
> Attached Excel sheet contains my RSI calculation (sheet: calc 1).
> Other calculations downloaded from the Internet give the same values for RSI as my calculation (sheet: calc 2).
>
> MetaStock RSI values are shown in red.
>
> 1. Which version is correct ?
> 2. How does MetaStock calculate their RSI ?
> 3. Can you give the exact formula how MetaStock's RSI is calculated?
>
> Kind regards,
> Onno

Onno,

I have tested the following code and I beleive it will fix your RSI problem

- Bill Hebert

Code:

Relative Strength Index - Custom IV
A:=Input("RSI periods",2,50,14);
B:=C; {RSI target array}
U:=If(B>Ref(B,-1),B-Ref(B,-1),0);
D:=If((B UE:=Wilders(U,A);
DE:=Wilders(D,A);
100-(100/(1+(UE/DE)));

Source: http://purebytes.com/archives/metastock/

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