Tutorial 202 | Calculate price to reach a user input RSI value
by Markplex
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Tutorial 202 seeks to look at the RSI calculation and calculate what price (this bar) needs to be for the RSI to reach (or go down to) a specific value.
To achieve this the calculations the RSI calculations are solved for Price (i.e. price this bar). Because the above formula includes AbsValue, we actually solve for two eventualities (i.e when price is greater than price last bar and when price last bar is greater than price this bar).
See https://markplex.com/free-tutorials/tutorial-202-calculate-price-to-reach-a-user-input-rsi-value/
To achieve this the calculations the RSI calculations are solved for Price (i.e. price this bar). Because the above formula includes AbsValue, we actually solve for two eventualities (i.e when price is greater than price last bar and when price last bar is greater than price this bar).
See https://markplex.com/free-tutorials/tutorial-202-calculate-price-to-reach-a-user-input-rsi-value/