RSI strategy orders not lining up

Very simple mistake. You left out the inputs for overbought and oversold when referencing your rsi study. This is why it usually best to use the full source code instead of referencing a study.

If you are going to reference a study, it’s usually best to build that in the condition wizard, because something like this will not be missed. And if you build your signals in the condition wizard, you should be watching our videos on this topic. Where you will find a template used to convert signals built using the condition wizard directly into strategy orders.

Here is your line of code missing the essential inputs:

def rsi = reference RSI(price = price, length = length, averageType = rsiAverageType);

Here is what it looks like when you include all the arguments, in their correct order (hint, this means you don’t have to label each one).

def rsi = RSI(price, length, over_bought, over_sold, rsiAverageType).RSI;

When you don’t include the overbought and oversold inputs, the code will use the default values of 80/20.

Should have just done it this way from the start. Even I missed one of the required inputs, “showBreakOutSignals”.

So lesson learned. When you are writing code, don’t use shorthand. Use the full code directly from the built-in study provided by Thinkorswim:

input length = 14;
input over_Bought = 70;
input over_Sold = 30;
input price = close;
input averageType = AverageType.WILDERS;
input showBreakoutSignals = no;
def NetChgAvg = MovingAverage(averageType, price - price[1], length);
def TotChgAvg = MovingAverage(averageType, AbsValue(price - price[1]), length);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
plot RSI = 50 * (ChgRatio + 1);