BullScript: RSI of Momentum Indicator

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RSI of Momentum Indicator

Printed From: BullCharts Forum
Category: BullCharts
Forum Name: BullScript
Forum Discription: Technical discussion related specifically to the BullScript programming language.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=605
Printed Date: 27 Apr 2025 at 6:07pm
Software Version: Web Wiz Forums 9.69 - http://www.webwizforums.com

Topic: RSI of Momentum Indicator

Posted By: jazza
Subject: RSI of Momentum Indicator
Date Posted: 21 Jan 2010 at 11:46pm

Hi there,

Hoping someone can show me a Bullscript for an RSI of Momentum rather than the usual RSI.

I don't know how to combine the 2 scripts into one oscillator.

Specifically trying to replicate a formula from the Linda Bradford Raschke / Laurence Conners Book - "Street Smarts" as per below.

"There are lots of tricks one can do with short-term rates of change. This Pattern uses
a one-period rate of change or "momentum" function. This is simply, the difference
between today's close and yesterday's close. (i.e., if today;,, closing price was 592
and yesterday's closing price was 596, the difference is -4.) A three-period RSI of
this one period change is calculated."

Thanks in advance,

Jazza

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Replies:

Posted By: rcameron
Date Posted: 23 Jan 2010 at 12:52pm

Jazza, I suggest that the best way to work through the bullscript and learn is to look at the various standard Bullcharts indicators of interest and it is relatively simple to pick up on what and how they are being calculated. Combining two standard indicators is relatively straight forward with Bullcharts, or it least it is after a bit of practise. Below I think I've combined the two indicators in the way that you had intended or at least it will give you a good idea of what needs to be done. Cheers Rod

[description="Calculates the RSI of the Momentum indicator."]

[target=Percent; category=Momentum;]

[horzline=0,100]

expr := expression("Expression");

n := input("Momentum periods",1,1);

n2 := input("RSI periods",3,1);

rsi((expr/hist(expr,n))*100,n2)

Posted By: jazza
Date Posted: 25 Jan 2010 at 7:31am

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Thanks Rod for your great prompt reply. I very much do appreciate the contributions from you and all the other talented script writers out there. (You know who you are)!

That certainly does the trick. I have added a 70, 30 Horizon line and voila! Interesting to see the added dimension you get when you add these 2 indicators together and use different time frames.

I was going to post a screen shot of the result but having trouble attaching. Using any of the icons or cut and paste does not seem to work. Lots of people are attaching screen shots to the forum. What’s the trick?

Cheers for now,

Jazza