soRSIs - Stochastic RSI versus RSI Group

20 ott 2020

soRSIs is about collaboration between Stochastic Relative Strength Index (SRSI) with Relative Strength Index (RSI) Group

RSI Group is group from three RSI, by default is 6,14, and 25

How to read:

• If SRSI crossed over RSI Group, it can indicate an uptrend confirmation
  
• If SRSI crossed under RSI Group, it can indicate a downtrend confirmation
  
• If SRSI rejected to cross under RSI Group, it can indicate a correction recovery
  
• If SRSI rejected to cross over RSI Group, it can indicate continuity correction
  
• If RSI group perform descending 25,14,6, it can indicate bearish
  
• If RSI group perform ascending 6,14,25, it can indicate bullish
  
• If RSI group or SRSI reaches overbought line, it can indicate warning for LONG and good for SHORT
  
• If RSI group or SRSI reaches oversold line, it can indicate warning for SHORT and good for LONG
  

It works in all time frames, but please keep in mind, higher timeframe can have stronger confirmation and trend.

The indicator settings:
*Show Crossed RSI: default is true, it will show vertical line if RSI1 crossed under/over the RSI2 and RSI3
*Source: default value is close, it is the resource when and where data are taken
*RSI1: default value is 6, but user can change any value
*RSI2: default value is 14, but user can change any value
*RSI1: default value is 25, but user can change any value
*Overbought: default value is 95, it is horizontal line on the top that indicates over bought or strength index fullness
*Overbought: default value is 5, it is horizontal line on the top that indicates over sold or strength index weakness
*The rest settings are about Stochastic RSI

16 dic 2020

Note di rilascio

Added divergence