3.18.6 RSI In Specified Range

\includegraphics[width=0.7\textwidth ,bb=0 0 290 182]{RSIInSpecifiedRange.png}
Figure 3.88: RSI In Specified Range.

Parameters available:

Setting RSI Period
Usually 14 days are used in the RSI calculation for daily chart and 14 weeks for weekly chart. The shorter the RSI period, the more sensitive the oscillator becomes and wider its amplitude. Therefore, if your trading horizon is very short, you might opt for RSI with shorter time period, ie. 9 days. If you want to decrease the volatility of the RSI signal, you can lengthen the RSI period, ie. 26 days.

Setting RSI Min and Max values
With this specific rule, you can setup rules to detect RSI at any level of choice and would not be limited by the Buy and Sell definition.