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 RSIStudy:
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 MAStudy:
Note the drop down arrow to the left of the constructor MAStudy(). Clicking on this drop down arrow will reveal another constructor MAStudy(length,offset,studyVarName,dataSeriesID, movingAverageType):
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 studyVarName 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 ( MACDStudy.FAST, MACDStudy.SLOW, MACDStudy.HIST and MACDStudy.SIGNAL).
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: