Multiframe RSI of RSI

Multiframe RSI of RSI

Since on a daily chart EMA26 approximate in an excellent way the 50-line of the RSI (when close crosses under EMA26 the RSI crosses under 50) and EMA130 approximate in the same way the 50-line of the weekly data on the daily chart, I created this indicator that so far gave me really good profits per trade.

It’s sort of a daily RSI of a weekly RSI and uses a cut-off line based on standard deviations to stop the position. I traded with it only long and only on stock market.

I enter long when the indicator crosses into the positive area (I normally use a number between 0.3 and 0.9) and I sell when the indicator crosses under the cut line (I use normally 1.5 to 1.9 of correction for the standard deviation)

Blue skies

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  1. gabri • 06/19/2017 #

    Here’s the thread
    https://www.prorealcode.com/topic/multiframe-rsi-of-rsi/

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