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Not having seen that article I created that use of RSI for Support
Resistance a while ago and recently posted the AFL to the site. Great minds
think alike, assuming the author of the article is a great mind :)
Cheers,
Graham
http://groups.msn.com/ASXShareTrading
http://groups.msn.com/FMSAustralia
-----Original Message-----
From: Tomasz Janeczko [mailto:amibroker@xxxxxx]
Sent: Wednesday, 28 May 2003 6:39 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: Re: [amibroker] Re: RE RSI
Dimitris,
The trouble is that your analyse the indicator code without reading the
article.
You are right that no one would know exact RSI value for tommorrow
without knowing exact close price
... but...it is not the point of the article.
The article shows the way to use reverse RSI to analyse
"WHAT-IF" scenarios.
The author asks the question WHAT will be the value of close for
tommorrow IF RSI moves to point 'x'.
It is speculation not prediciton.
The author suggests to check several what-if scenarios
(based on individual experience and known patterns that happen
often on RSI indicator).
The author suggest that support - resistance levels
observerved on RSI could be used to find corresponding S/R areas
in prices itself.
Best regards,
Tomasz Janeczko
amibroker.com
----- Original Message -----
From: "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Tuesday, May 27, 2003 9:16 PM
Subject: [amibroker] Re: RE RSI
The original text
"The reverse-engineered RSI, or RevEngRSI for short, can
help determine the following time period's closing price using the
value of the oscillator. "
is a bit inaccurate. It works in the following sense: Tell me
tomorrow´s RSI() and I will tell you tomorrow´s Close.
I will not make further comments for this "logic".
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
wrote:
> Jayson,
> We simply can not predict tomorrows close using this indicator.
> We already suppose we know tomorrow´s RSI().
> But, tomorrow´s RSI() is equally unknown to tomorrow´s Close
> We need some kind of NeuralNetwork platform and then accept the
> respective NN hypothesis and someone to undertake the NN risk !!.
> Even this procedure would not need RSI() to operate.
> The indicator may give VISUAL channels if , for example, you plot 3
> graphs for value=35, 50, 65 and work similar to Keltner Channels or
> Bollinger Bands.
> Simply set value=RSI() and you will receive nothing but the Close
> graph again.
> See also
>
http://www.traders.com/Documentation/FEEDbk_docs/TradersTips/TradersTi
> ps.html
> comments.
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Jayson" <jcasavant@xxxx> wrote:
> > Franco,
> > it is in the members section on the web site......
> >
> > Regards,
> > Jayson
> > -----Original Message-----
> > From: Franco Gornati [mailto:fgornati@x...]
> > Sent: Tuesday, May 27, 2003 1:17 PM
> > To: amibroker@xxxxxxxxxxxxxxx
> > Subject: Re: [amibroker] Re: RE RSI
> >
> >
> > quchi wrote:
> > > Anyway THIS is a incredible cool indicator and I'm using it
since
> the
> > > day TASC was out - I had something similar before but this is
MUCH
> > > better(of course done by TJ:) - thx TJ and Dr Giorgos Siligardos
> > > wow
> >
> > Anyone kind enough to share it? I can't find it
> >
> > Thanx
> >
> > Franco
> >
> >
> >
> > Yahoo! Groups Sponsor
> > ADVERTISEMENT
> >
> >
> >
> >
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