four
5,087 posts
msg #97425
- Ignore four |
11/10/2010 11:31:03 PM
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glgene
616 posts
msg #97427
- Ignore glgene |
11/11/2010 9:38:33 AM
four,
Thanks for the script. But I have just one (simple? stupid?) question:
I understand single numbers in a parenthesis, e.g., RSI(5),
but I don't totally understand double numbers,
e.g., stochrsi(5,5) > stochrsi(5,5) 1 day ago
Could you please elaborate, simply, so that my 'grandmother' could understand?
What is the first 5, what is the second 5?
Thanks.
My grandmother's grandson
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four
5,087 posts
msg #97431
- Ignore four |
11/11/2010 6:40:59 PM
Format:
StochRSI(period,rsiperiod)
--------------------------------
Stockfetcher, "The StochRSI computes the current position of the RSI relative to the high and low RSI values over a specified number of days."
Another way to say it...
"StochRSI is the Stochastics formula applied to RSI; that is, it's an indicator of RSI. StochRSI measures the value of RSI relative to its high/low range over a set number of periods." http://trading-technique1.blogspot.com/2009/06/stochrsi.html
HTH
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four
5,087 posts
msg #97432
- Ignore four |
11/11/2010 6:52:18 PM
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glgene
616 posts
msg #97433
- Ignore glgene |
11/11/2010 10:29:40 PM
OK, four...
My grandmother had to read your reply a couple of times. Must be her smeared tri-focals .
Anyway, it seems your StochRSI(5,5) measurement presents an "even-steven" scenario.
If you went either direction with the first 5, would that make it more or less sensitive to the results?
Say, StochRSI(2,5) or StochRSI(7,5). Would a StochRSI(first number higher than second number) make any sense at all? Or should the first number either be the same or lower than the second number?
Grandma is going to bed early tonight. I'm sure she looks forward to seeing your expanded reply after she eats her apple tomorrow morning [after she first puts in her teeth].
-- My grandmother's grandson
ps: Grandma wants to know if you're related to Abe Lincoln? Is that where you got the handle, four? (As in "Four Score and 7 years ago...").
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glgene
616 posts
msg #97435
- Ignore glgene |
11/11/2010 10:55:59 PM
OK, four, I tucked Grandma into bed. Since she's snoring, I know she's asleep (I think).
Page 99 of the Stockfetcher manual says, in part:
"The StochRSI ranges between 0.0 and 1.0. Values above 0.8 are generally seen to identify overbought levels and values below 0.2 are considered to indicate oversold conditions."
Now would that be with a default StochRSI(14,14) setting, or what? I see they're using 14,14 with the page 99 examples.
I took the liberty of writing the script below, which uses 3 different StochRSI combinations .... where the 1st number is less, same and more than the second number.
I would appreciate any remarks from you re: the results of my script run. Please make your remarks clear so Grandma understands the first time she reads it. She's happy when she understands. She grunts when she's unhappy.
Thanks, four (little Abe)
-- My grandmother's grandson
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straken
469 posts
msg #97436
- Ignore straken |
11/11/2010 11:08:42 PM
StochRSI measures the value of RSI relative to its high/low range over a set number of periods.
The number of periods used to calculate StochRSI is transferred to RSI in the formula. For example, 5-day StochRSI would use the current value of (5-day RSI) and the (5-day high-low range) for (5-day RSI).
But if Grandma wakes with alzheimer's, and slips on that apple and breaks a hip, think of it as a measure of the normalized daily RSI(5)
Cheers
grandmamason
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four
5,087 posts
msg #97437
- Ignore four
modified |
11/11/2010 11:11:36 PM
Thanks Straken.
Another way to use stochrsi, http://stockcharts.com/help/doku.php?id=chart_school:technical_indicators:stochrsi.
PS
"Grandma wants to know if you're related to Abe Lincoln?"
Which Abe Lincoln? There are a few throughout the USA.
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glgene
616 posts
msg #97438
- Ignore glgene |
11/11/2010 11:27:55 PM
Which Abe?
The one who proclaimed, "Four score and 7 years ago" during the Civil War
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four
5,087 posts
msg #97439
- Ignore four
modified |
11/11/2010 11:28:50 PM
I believe I am not related to that one.
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