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WilsonRSIChannel

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Syntax

public WilsonRSIChannel(DataSeries ds, int rsiperiod, int smoothperiod, double cord, string description)
public static WilsonRSIChannel Series(DataSeries ds, int rsiperiod, int smoothperiod, double cord)

Parameter Description

ds Source Series
rsiperiod RSI period
smoothperiod EMA smoothing period. Keep this low as higher numbers increase delay.
cord Cord is the RSI value between 0 and 100

Description

The Wilson (Relative) Price Channel from Leon Wilson's article in the July 2006 issue of Stocks & Commodities magazine. The channel quantifies the relationship between price action and RSI. In reality, the channels are reverse-engineered RSI constant values displayed on price. Run the example for clarification.

Example

using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;
using TASCIndicators;

namespace WealthLab.Strategies { public class MyStrategy : WealthScript { protected override void Execute() { DataSeries ds = Close; int rsiPer = 21; int emaPer = 1; DataSeries obought = WilsonRSIChannel.Series(ds, rsiPer, emaPer, 70); DataSeries nzu = WilsonRSIChannel.Series(ds, rsiPer, emaPer, 55); DataSeries nzl = WilsonRSIChannel.Series(ds, rsiPer, emaPer, 45); DataSeries osold = WilsonRSIChannel.Series(ds, rsiPer, emaPer, 30); PlotSeriesDualFillBand(PricePane, obought, nzu, Color.LightGray, Color.Blue, Color.LightGray, LineStyle.Solid, 1); PlotSeriesDualFillBand(PricePane, osold, nzl, Color.LightBlue, Color.LightBlue, Color.LightBlue, LineStyle.Solid, 1); ChartPane rsiPane = CreatePane( 50, false, true ); PlotSeries(rsiPane, RSI.Series(Close, rsiPer), Color.Blue, LineStyle.Solid, 2); SetPaneMinMax( rsiPane, 30, 80 ); int b = Bars.Count - 1; double[] rect = { b, 55, b, 70, 0, 70, 0, 55 }; DrawPolygon(rsiPane, Color.LightGray, Color.LightGray, LineStyle.Invisible, 1, true, rect); double[] rect2 = { b, 30, b, 45, 0, 45, 0, 30 }; DrawPolygon(rsiPane, Color.LightBlue, Color.LightBlue, LineStyle.Invisible, 1, true, rect2); HideVolume(); } } }

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