StockFetcher Forums · General Discussion · Cutler's RSI indicator<< 1 2 >>Post Follow-up
28 posts
msg #110162
Ignore indexa
1/14/2013 7:42:39 PM

1/14/2013 7:29:28 PM


Would it be possible to add Cutler's RSI indicator to Stockfetcher library?

Or, is there a way to calculate this indicator:

A variation called Cutler's RSI is based on a simple moving average of U and D, instead of the exponential average above

RSI = 100 - 100 / ( 1 + RS)


RS = SMA(U,n) / SMA(D,n)


74 posts
msg #110213
Ignore evo34
1/15/2013 5:26:40 PM

I second this..

3,833 posts
msg #110218
Ignore Kevin_in_GA
1/15/2013 9:42:38 PM

Why would this be any better? The use of one MA type versus another usually results in only small variations in the resulting number. Can you show an example of how it is different/better? I'm honestly curious.


28 posts
msg #110221
Ignore indexa
1/16/2013 12:01:51 AM

Sure, Kevin, I will try to explain.

I learned about RSI(2) in this forum and now I use it to spot my entry.
An inflexion in this indicator shows me the reversal trend.

Suppose a stocks shows, for a moment, a red candle and maybe the end of a rally. The traditional RSI (with EMA) shows a negative line; but, the Cutler's RSI slope is above 0. Later, the candle shifts and it's green. The Wilder RSI now is not negative (maybe positive or = 0). The difference is Cutler's RSI remains positive and there is no false trigger.


485 posts
msg #110292
Ignore guru_trader
1/17/2013 12:27:57 PM

Here is my attempt at Cutler's RSI. I noticed there are several definitions of how to calculate it, so let me know if it should be calculated differently. To change the lookback days, simply change the "14" to whatever days you want.

chart-length is 90
not otcbb

set{clcl, close - close 1 day ago}

/* get SMA of Up Days */
set{is_upday, count(close > close 1 day ago,1)}
set{upday, is_upday * clcl}
set{sum_updays, sum(upday,14)}
set{cnt_updays, count(close > close 1 day ago,14)}
set{sma_updays, sum_updays / cnt_updays}
add column sma_updays

/* get SMA of Down Days */
set{is_dnday, count(close < close 1 day ago,1)}
set{dnday, is_dnday * clcl}
set{sum_dndays, sum(dnday,14)}
set{cnt_dndays, count(close < close 1 day ago,14)}
set{tmp_sma_dndays, sum_dndays / cnt_dndays}
set{sma_dndays, abs(tmp_sma_dndays)}

/* get Cutler's RSI */
set{sddi0, count(sma_dndays equals 0,1)}
set{sddn0, sma_updays / sma_dndays}
set{rs, sddi0 + sddn0}
set{n1, 1 + rs}
set{n2, 100 / n1}
set{crsi, 100 - n2}
add column crsi
draw crsi
draw rsi(14) on plot crsi

* fixed code to account for situation when RS denominator (sum of down days) = 0

7 posts
msg #110297
1/17/2013 1:51:09 PM

Very impressive!

Unfortunately it doesn't run with the SF standart subscription.

Thanks anyway.

485 posts
msg #110298
Ignore guru_trader
1/17/2013 2:16:26 PM

Then it's time to upgrade your subscription! :)

Actually, I just caught an error in the script. I didn't consider when the denominator is 0 ... I'll fix that soon. [*fixed, and posted above]

28 posts
msg #110379
Ignore indexa
1/21/2013 9:40:05 AM

Yes, you're right, guru!


683 posts
msg #110380
Ignore duke56468
1/21/2013 10:17:30 AM

Can someone explain what constitutes "performance restrictions"? Some filters seem very long and are no problem for us in the cheap seats, and others like this one which appears short wont run. Is it the number of set definitions?

3,833 posts
msg #110384
Ignore Kevin_in_GA
1/21/2013 12:23:25 PM

I usually run into that issue when nesting user defined variables (e.g., create a user-defined variable, subtract another user-defined variable from it, then make a custom MA from that difference, then ...)

After a few it hits the wall.

StockFetcher Forums · General Discussion · Cutler's RSI indicator<< 1 2 >>Post Follow-up

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