Bill Williams indicator (MFI).
The indicator calculates the range of oscillations per unit volume. In fact, this indicator shows the tick volume or the readiness of the market to move the price.
The indicator is presented as vertical columns or as a line with levels.
Vertical columns are painted in different colors depending on the displacement of the indicator...
This is version 2 of my Forex Master algorithm originally posted here:
Initial equity = $100,000 (no leverage)
Order size = 100% of equity
Pyramiding = disabled
Long entry = EMA5(RSI20) cross> 50
Profit limit = 50 pips
Stop loss = 50 pips
Short entry =...
Slowing the RSI down opens up a whole new world of possibilities.
This concept can work for a lot of TA indicators including the MACD.
See script source code for further description. Feel free to add pyramid trades at your own discretion in your format menu.
No this doesn't repaint!
RSI Cross Explanation;
When short-term RSI crossover long-term RSI ; BUY ( Green Area )
When short-term RSI crossunder long-term RSI ; SELL ( Red Area )
You can change RSI lenghts or moving average lenght on settings.
If you knew that, you would sell all your bitcoins at a price of $13.500 and not look back on 8th January.
Instead of calculating Relative Strength(RS) of Price(RSI), this calculates RS of Moving Average(RSIOMA).
See www.earnforex.com for more info and metatrader version.
Credit goes to Kalenzo from the Forex TSD forum www.forex-tsd.com
I easily modified the default RSI in trading...