Template: Indicator Documentation
====
Syntax====
public RSIBand(DataSeries ds, int period, double rsiTargetLevel, string description)
public static RSIBand Series(DataSeries ds, int period, double rsiTargetLevel)Parameter Description
| ds |
Source DataSeries |
| period |
RSI period
|
| rsiTargetLevel |
Typically 70 and 30 are used as overbought/oversold levels |
Description
RSI bands provide an intuitive way of visualizing the RSI in the Price pane and are drawn for levels that are considered overbought and oversold (typically 70 and 30, respectively). The bands are calculated by answering the question, “What price should the stock have to reach today to be considered overbought/oversold, given yesterday’s RSI?”
Example
/* Create and plot the overbought and oversold bands in the PricePane*/
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 obought = new RSIBand(Close, 14, 70, "Overbought(70)");
DataSeries osold = new RSIBand(Close, 14, 30, "Overbought(30)");
Color fill = Color.FromArgb(50, Color.Gray);
PlotSeriesDualFillBand(PricePane, obought, osold, fill, fill, Color.Gray, LineStyle.Solid, 1);
}
}
}