Featherlite RSI - Extra Sensitive

2019년 6월 15일

Featherlite RSI - Extra Sensitive

This is a combined relative strength index (RSI) ans stochastic RSI indicator set to the super sensitive period of 2 candles.
I use this setting particularly on higher timeframes such as M, W, D but can also be useful on 4h. However lower timeframes, will become to noisy.

If you compare to the standard setting of 14, you can see that the pump and dump structure is a lot more washed out


The RSI builds up slowly from its low point in 2015 to a single maximum in 2017. This is great for charting the longer cycle (interyear bull / bear), but is of little help for charting the intermediate swings. However, by increasing the sensitivity we can see when the RSI is maxing out on an intermonth basis. And indeed this matches the actual high points of the previous bull runs very well.

The indicator also includes a stochastic RSI indicator also set to the same candle period.

In practice it is always good to use a range of indicators to get a feel for what is going on. This is good for intermonth cycles on M and W timeframes. For longer cycles use the standard period setting of 14.

2019년 6월 26일

릴리즈 노트

Added the option of configuring the RSI length setting. Default value still set to 2, but switching up to 4 or 8 may be useful on lower time frames like daily or even 4h. The same value is used for both RSI and stoch. RSI

The standard RSI setting is 14.

2020년 2월 24일

릴리즈 노트

// script deleted
plot(close)