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The current StochRSI formula in medved trader makes assumptions about the user's desired parameters, and so does not produce as accurate results as is possible. This in turn leads to potential false entry and exit signals. Currently the parameters available to set are Period, St Period, and Signal. Wilder's Smoothing is a checkmark option. Ideally, the medved trader stochrsi calc would allow for the parameters:

rsi length - The number of bars with which the RSI is calculated.

rsi average type - The type of moving average to be used in the calculation of the RSI: simple, exponential, Wilder's.

rsi price - The type of price with which the RSI is calculated, typically the close.

k period - The period on which the highest and the lowest price values are to be found.

d period - The length of the moving average to be applied to FullK. This produces the FullD plot.

slowing period - The length of the moving average to be applied to %K. This produces the FullK plot.

average type- The type of moving average to be used in calculations: simple, exponential, Wilder's.

Chande's book "The New Technical Trader" includes his creation of the stochrsi, and is available as pdf for free at https://www.forexupload.com/670 . See page 124:

stochRSI %k = (RSI - RSI-L) / (RSI-H - RSI-L)

stochRSI %d = SMA( %k, d_period)

where RSI-L and RSI-H are the lowest and highest values of RSI over a given look-back period.

d_period = sma length

derived from George Lane's calc of stochastic:

%k = 100 * [ ( Close(i) - L(n) ) / ( H(n) - L(n) ) ]

%d = SMA (%k, d_period)

where:

Close(i) = current closing price

L(n) = lowest value in last n samples

L(h) = highest value in last n samples

d_period = sma length

Other users have asked for additional formulas, but could not provide the calcs. So this may be more information than you need, but the intent is to try to provide enough information that you can use rather than make you try to find it yourself. The formula as shown above is sound: I've coded this up myself using the above formula and run it against raw price data and had accurate results across every tested timeframe when compared to the stochrsi formula in packages provided by large financial brokers. It would be great if these additional parameters could be included in the medved charting app. Thanks.

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