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I recognise value in using lo....ng periods in Indicator studies, 255 &
510 days, to signal short/intermediate trend movements.
I had been messing about with the RSI, playing with MA's and further
smoothing periods. I decided to combine the last two days (smoothing),
apply a 510pd RSI, smooth it with a short EMA, then smooth the result
with a longer MA as a signal line.
The RSI 510210 appeared and I immediately noticed similarities to the
invaluable StochRSI.
A cursory glance appears to show, in comparison to the StochRSI, the
following differences.
In a ranging market it is visually clearer and appears to enter a day or
so later and exit a day or so earlier, maybe.
In a slow to medium trend it keeps you in the trend longer, yes.
More precise entry signals at sudden market turns, check sept 2001.
I did said a cursory glance.
Here's the formula just as it appeared.
Title=Name() + " RSI 510210";
MaxGraph=5; GraphXSpace=10;
Plot( EMA(RSI(510),2) + Ref(EMA(RSI(510),2),-1) ,"",4,1) ;
Plot( MA(EMA(RSI(510),2),10) + Ref(MA(EMA(RSI(510),2),10),-1) ,"",6,1) ;
/*xxxx end xxxx*/
Regds Gerard
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