Metastock Indicator Formula |
Brown's Indicator |
| RSI derivative index (EL) - C. Brown {EasyLanguage} |
| Formula: |
Base:=Mov(RSI(14),6,S);
ATRcustom:=HHV(
ValueWhen(1,RSI(14)>Ref(RSI(14),-1),ATR(1))OR
ValueWhen(2,RSI(14)>Ref(RSI(14),-1),ATR(1))OR
ValueWhen(3,RSI(14)>Ref(RSI(14),-1),ATR(1)),14);
Part1:=
{up coefficient is a factor 2.3 and added}
(2.3*(Mov(ATRcustom, 15,S)));
Part2:=
{down coefficient is factor 2.1 and subtracted}
(2.1*(Mov(ATRcustom, 15,S)));
{Part3=if RSI closes up or equal to, than part1,
else, if RSI closes down, part2}
If( Base>=Ref(Base,-1),
{RSI up=TRUE, then} Base+Part1,{else}
{RSI up=FALSE,then} Base-Part2) |
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