Thread: Using RSI to Gauge Trends

RSI is solid.

Begins to move up past 50 or drops below 30 = buy

Originally Posted by ;

quote search 2 Phase RSI pullback trading egy from Connors

https://www.tradingview.com/wiki/Connors_RSI_(CRSI)
I didn't find any shared mq4 or mq5 code for this. Anyone conscious of something coded?
================
There are three major components to Connors RSI

RSI = Standard RSI developed by Wilder. This is typically a short-term RSI. In this example it is a three Period RSI.

UpDown Length = the amount of consecutive days that the safety price has either closed up (greater than preceding day) or shut down (lower than previous days).
Closing up worth represented in positive numbers and closing down is represented with negative numbers.
If a security closes in the exact same price on back to back days, the UpDown Length is 0.
Connors RSI then applies a short-term RSI into the UpDown Streak Value. In this example it is a 2 period RSI.

ROC = The Rate-of-Change. The ROC takes a user-defined look-back period and computes a percentage of the amount of values
within that return period that are below the current day price change percentage.

The last CRSI calculation then simply loing the average value of the three components.

CRSI(3,2,100) = [ RSI(3) RSI(UpDown Length,2) ROC(100) ] / 3
========================

This:
https://www.mql5.com/en/forum/200210

Originally Posted by ;

This: https://www.mql5.com/en/forum/200210

Thanks, velgengni
That was fairly old code as it had been, wouldn't draw, and got variety out of range errors. This was due to no code to examine the needed bars when setting the initial bar to test. Anyhow, I altered it, attached, seems to perform.
I am not sure the code is 100% true to the description on tradingview.com, along with the indior seems to seldom exceed 5 and 95 - but the guys at forex-std have additional time and experience than I.
https://forexintuitive.com/attachmen...8132439734.mq4

Originally Posted by ;

Can you use rsi to judge trends? I discovered that trends can be caught by us easily. image image Rsi can be quite quickly, but with multiple interval approach definitely helps. It is possible to see at the ideal hand side of this chart - the trends remain down to the entire time. The way to do so is if rsi under 50 - . If rsi above 50 - the trend is upward. The period can be 11 or 13. What I wanted to know is - is there anyone with rsi to trend? Any sharing will be appreciated.

I will love to share my previous experience of using RSI even tho I'd long awakened it. This momentum indior is lagging and price preceded its studying which rendered it inefficient to see PA timely and correctly except to show that price have already transferred. It may be used to discover fakeouts and divergences. The only thing concerning divergence is even tho all reversals show momentum divergence but maybe not all divergences indies reversal. Therefore in light of the several constraints to read price in a fashion that is timely and proper, it cannot be utilized to trade in the PA circumstance alone with it and is at best a secondary instrument.
Trend is another separate entity entirely and it is just possible to discover them effectively if you are able to read them in a suitable PA context. There are tendency in pullback, retracements, and also in intraday, short term, mid term and long-term time frames. Trend is obviously fluid and dynamic and it depends on which PA circumstance you are referring to and how to examine them so in the different context. If PA is in pullback mode then trade the pullback in case you trade the replacement and not otherwise and if in substitute must trading with the trend means. Few can trade them if one does not know the parameters of the PA circumstance that is various, because a pullback or a replacement may morphed into a reversal. This is the only and largest challenge faced by all traders.
Simply sharing my trading expertise.

Cheers
GS

And, here is a Conner rsi that I believe is accurate to the description in https://www.tradingview.com/wiki/Connors_RSI_(CRSI). But, Its plot is not so different from another one.
https://forexintuitive.com/attachmen...0936084140.mq4