Relative Spread Strength Indicator
The trading technique, described in Ian Copsey's article, "Relative Spread Strength As A Long-Term Cyclic Tool", helps Forex traders in identifying cycle peaks.
Using Function Builder, one needs to create the Rapid RSI and RSS functions; then, using Indicator Builder, one can quickly write the corresponding indicators and plot them on a price chart.
The following is the code for Mr. Copsey's functions and indicators which can help confirm cycle highs and lows.
RapidRSI Function
function (Price:Numeric = C, Length:Numeric = 14): Numeric;
var
Numerator := 0;
Dif := 0;
UpAmt := 0;
DownAmt := 0;
UpSum := 0;
DownSum := 0;
RapidRSI := 0;
end_var
if HistorySize < Length then return 0;
UpSum := 0;
DownSum := 0;
for Numerator:=0 to Length - 1 do
begin
DownAmt := 0;
UpAmt := 0;
Dif := Price\Numerator\ - Price\Numerator+1\;
if Dif > 0 then
UpAmt := Dif;
if Dif < 0 then
DownAmt := -Dif;
UpSum := UpSum + UpAmt;
DownSum := DownSum + DownAmt;
end;
if UpSum + DownSum <> 0 then
RapidRSI := 100 * UpSum / (UpSum + DownSum);
else
RapidRSI := 50;
return RapidRSI;
RSS Function
function (RSPeriod:Numeric = 5,
EMA1Period:Numeric = 10,
EMA2Period:Numeric = 40) :Numeric;
var
Spread := 0;
RS := 0;
end_var
Spread := SMA(Close, EMA1Period) - SMA(Close, EMA2Period);
RS := RapidRSI(Spread, RSPeriod);
return SMA(RS, 5);
Rapid RSI Indicator
return RapidRSI(C, 14);
RSS Indicator
return RSS(5, 10, 40);
While inserting indicators into a chart (the Insert Indicator dialog box), do not forget to add the 30 and 70 thresholds.
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Download to import into Tradecision. 
How to use this indicator in Tradecision:
- Click Download.
- Save this indicator in a safe location on your hard drive.
- Open Tradecision and in the Tools menu click Indicator Builder.
- In the Indicator Builder dialog, click Import, locate the saved file and then click OK.
The indicator will be added to the Custom Indicators list.
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