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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