AIQ EDS code based on Sylvain Vervoort’s August 2018 S&C article, “The V-Trade, Part 6: Technical Analysis—Divergence Indicators,”
This sixth part of a multipart series continues with a look at the stochastic RSI indicator (SRSI) to identify divergences… is available below
The code is shown here:
!The V-Trade Part 6 !Author: Sylvain Vervoort, TASC Feb 2019
!Coded by: Richard Denning
stochLen is 5.
stochSum is 8.
rsiW is 21.
U is [close]-val([close],1).
D is val([close],1)-[close].
rsiLen is 2 * rsiW - 1.
AvgU is ExpAvg(iff(U>0,U,0),rsiLen).
AvgD is ExpAvg(iff(D>=0,D,0),rsiLen).
rsi is 100-(100/(1+(AvgU/AvgD))).
hiRSI is highresult(rsi,stochLen).
lowRSI is lowresult(rsi,stochLen).
RSIlow is rsi - lowRSI.
RSIhilow is hiRSI - lowRSI. ema1 is simpleavg(RSIlow,stochSum).
ema2 is simpleavg(RSIhilow,stochSum).
sveStochRSI is (ema1/(ema2 + 0.1))*100.
Figure 7 demonstrates the indicator on a chart of IBM.
FIGURE 7: AIQ. The sveStochRSI is shown on a chart of IBM.
for AIQ Systems