Combining RSI
AFL code in Amibroker empowers traders to combine multiple Relative Strength Index (RSI) indicators to gain a deeper understanding of price momentum. By merging different RSI periods or divergences, traders can create more robust trading strategies. Amibroker data is essential for RSI calculations and ensuring accurate analysis.
_SECTION_BEGIN("COMBINING RSI WITH RSI");
function KST()
{
p1 = MA( ROC(Close,10), 10);
p2 = MA( ROC( Close, 15), 10 );
p3 = MA( ROC( Close, 20), 10 ) ;
p4 = MA( ROC( Close, 30), 15);
return p1 + 2 * p2 + 3 * p3 + 4 * p4;
}
Buy = Cross( RSI( 17 ), 60 ) AND C > MA( C, 40 );
Sell = Cross( 40, RSI( 17 ) ) OR C < MA( C, 40 );
InDownTrend = Flip( Sell, Buy );
CBuy = Cross( RSI( 5 ), 60 ) AND C > MA( C, 10 ) AND InDownTrend;
CSell = ( Cross( 40, RSI( 5 ) ) OR C < MA( C, 10 ) ) AND InDownTrend;
Buy = Buy OR CBuy;
Sell = Sell OR CSell;
Plot( KST(), "KST", colorGreen );
Plot( RSI( 5 ), "RSI5", colorRed );
Plot( RSI( 17 ), "RSI17", colorBlue );
_SECTION_END();