Example #1: Study on Study (MA of RSI)
The Formula Wizard allows you to use the values of a built-in study as the input for other built-in studies. In this example, we will build a 5 period moving average of an RSI study, and plot both in the same axis.
We will name our study �
MA of RSI
�, and select
non-price study in order to plot our data in a separate axis.
Add two data plot lines here, one for the RSI, and one for the moving average of that RSI. Color the MA-RSI differently than the RSI in order to tell them apart on the chart.
Min/Max Plot Values
When plotting a non-price study, you have the option of restricting the min and max values of the study. As this is essentially an RSI plot, all values will lie between 0 and 100 on our chart.
Adding the RSI Study
This formula requires the insertion of an RSI built-in study. Click on �Add Study� and select the default values for �
Adding the Moving Average Study
Next, we want to insert a moving average study that uses the RSI as the input data for its calculations. Click on �Add Study� again, and select �
Note the drop down arrow to the left of the constructor
MAStudy(�). Clicking on this drop down arrow will reveal another constructor
Selecting this 2
nd constructor will allow us to use our previously inserted RSIStudy as the input data for calculating this moving average:
Note that in the �
� parameter, the Function Editor has automatically filled in the variable name of our RSIStudy: �
vRSI14�. The �
dataSeriesID� specifies which data series within the �
studyVarName� to reference in its calculations. The RSIStudy only has one data series (
RSIStudy.RSI), other studies, such as the MACD have more than one (
After accepting these values, the Studies Table should now show the following:
Since our study only returns the RSI and MA-RSI calculations, we do not need to add anything in this section.
Returned Data Points
We now need to return the values of vRSI14 and vEMA5_of_vRSI14. Click on �Edit� for each of the return lines and select the appropriate variable to return:
After saving the formula to an EFS file, it may be applied to a new Advanced Chart. You should see something similar to this: