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A.Farley in his book "Master swing trader" suggests setting levels for RSI
according to where price spends 5% of its time. I.e. work out for a suitable
period, say 90 days, the level where 5% of the days the price is above the
level and 95% of the days the price is below the level. Do the same for a
bottom level. These two levels replace the traditional 70/30% levels.
I experimented with writing a indicator in AFL for this but had to resort to
Javascript to work out the 5% levels and wasn't sure I got it right.
David Regan
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