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Lenny,
Thanks for a very interesting post.
One of my ongoing searches is for a viable trigger. I only trade the
S&P emini intraday, and in this respect, am wondering if you've found
the RSI as meaningful on a say 3 minute intraday chart basis or not.
You, of course provided a weekly chart in your example. Is that the
context in which you primarily use it?
I haven't previously been able to relate to RSI intraday, but you've
provided a new way to look at it for me. I'm going to give it another
look.
Thanks.
Eliot
>All,
> Here's another way I look at the RSI. I put up a 14 period RSI with bands
>at 40 & 60 and a 3 period RSI with bands at 20 & 80. On the 14 period RSI
>movement between:
>
>1) 20-60 signifies a downtrend
>2) 40-80 signifies an uptrend
>3) 40-60 signifies a trading range
>
>I only like to trade with the trend so I use the 3 period RSI as a trigger
>when it crosses 80 (short) or 20 (long). One, first needs to determine
>whether an issue or index is:
>
>1) Trending
>2) In a trading range
>3) About to have a CIT
>
>I use the parameters above to determine if the issue or index is trending or
>not. I also look to the RSI 3 to see if it's staying above 80 or below 20 for
>more then 2 periods. A good sign for a CIT is the first time the RSI 14 has
>failed to cross 60 at the same time the RSI 3 has crossed 80 and then crossed
>back under 80 (from uptrend to downtrend). See attached.
>
>Lenny
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>Attachment converted: GAIA:S&PrsiTrend.gif (GIFf/«IC») (001380D2)
--
^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Eliot Kaplan
20211 Croydon Lane
Topanga, CA 90290
Voice: 310.455.3810
Fax: 310.455.3085
email; eliot@xxxxxxx
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