HOW Does it work ? * RSI - Relative Strength Index is a very well known to understand the trend strength, Many researches have been done on RSI. * The Indicator defines itself as the Candles are formed of RSI Value of Defined Length and Chart Time Frame.
RSI Candles comprises of following -- * Candles formed from RSI value. * Predefined Moving average limited line for breakout. * Up Trend Area, Down Trend Area, Consolidation Area when RSI is in-between 55 to 45.
User Inputs -- # User can change length of RSI. # Over Bought / Sold values can be changed.
How to learn the trend ? # Time Frame shall be more than 2 min. for better outcome. # If the market is below the line then look for falling in RSI and one can learn the down trend. # Over bought / Over sold be clearly seen in chart so trend reversal can be grabbed. # The data for the indicator will be very restricted, most of the parts in indicator wont work when the market closes. # Pre-Opening or Post -Market data is tried to be ignored. # Utmost Care is taken to implement the suggestions of users and also tried to keep the chart neat and clean.
Disclaimer # The indicator to be used for understanding / learning the markets. # User is responsible for his / her profits / losses, that may occur during the markets.
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What is updated ?
# RSI Based moving average line was having issue, now rectified. # Some cosmetic changes.
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What is updated? # In this Version v3.23, below is updated: - * Fine Tunings in candle formation. * Grammatically corrected words. * Some cosmetic changes.