|
||
This example is similar to the CCI 133 Bands example, but will illustrate plotting Relative Strength Index (RSI) Bands to indicate when RSI is above 70 or below 30. Though the chart has an RSI study present on it for the DYO Boolean tests, it is not being shown in this example. I want the reader to get a new perspective about RSI by looking at just the RSI Bands.
Line A is the test for RSI being above 70. Line B plots in green the price that would cause RSI to be at the 70 level. Line C is the test for RSI being below 30. Line D plots in red the price that would cause RSI to be at the 30 level. Line E is a quick way to plot a line at the mid-point of the red and green lines. Therefore, this line shows whether RSI is above or below zero. The candles shown in the example are Ensign's new Rockets™ format introduced in last month's newsletter. A template named RSI-Bands can be downloaded from the Ensign web site using the Internet Services form. Last modified 10/27/08 11:55 AM |
