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Category
Indicator Functions
Description
Reverse RSI (price required for RSI to reach level)
Syntax
RRSI(len, level)
Parameters
len - formula specifying a number of bars
level - formula specifying the desired RSI level
Notes
This function can be used to calculate entry or exit limit prices based on RSI reaching a specific level.
Calculation uses the original Welles Wilder formula.
Wilder's exponential smoothing is equivalent to using 2*len-1 in a regular exponential moving average.
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