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Ron,
thank you for your comments.
The whole technique is exposed at
http://groups.yahoo.com/group/amibroker/message/42350
I hope it stands alone and includes the appropriate references.
For any questions on the basic #42350 message, please do not hesitate
to ask.
The subject is interesting indeed...
RSI support/resistance trendlines is already solved [I have placed
the respective Stochastic trendlines formula in the AFL Library long
time ago.
The most important here, thanks to G. Siligardos method, is that we
may speak directly in Close terms, instead of RSI.
The first thing is to know that RSI support for the next bar is 45.
This time we translate the same info into :The price support for the
next bar is $17.80.
It is direct and much more expressive.
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, "mrdavis9" <mrdavis9@xxxx> wrote:
> Dimitris, I have not had the time to follow your posts regarding
the development of these RSI channels. I wouldn't understand the
details even if tried, but I do understand the concept, and this is
exactly what I have been needing. I did see a previous post where
you congratulated Anthony for the idea of using RSI values to plot
horizontal lines of support and resistance. Based on the graph
attached to your email, it appears that you have developed an
indicator that plots RSI support resistance channels at whatever
angles that they may occur. I would really appreciate you posting
the finalized code, or perhaps direct me to the appropriate posts to
read where the code is posted. This concept is pure genius. Ron D
>
>
>
>
> ----- Original Message -----
> From: Dimitris Tsokakis
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Thursday, June 12, 2003 6:24 AM
> Subject: [amibroker] RSI support/resistance
>
>
> When an RSI channel is formatted, RSIsupport/resistance are quite
interesting:
> In the att. DJI gif, the next bar readings for June10 were
> RSIsupport=9041.29
> RSIresisrtance=9277.71
> Next bar [June11] spread was
> H=9202.08
> L=9010.13
> C=9183.22
> quite close to the RSI predicted levels.
> Price trendlines were not informative at all for this session.
>
> Dimitris Tsokakis
>
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