Everything about RSI - page 58

[tampa]

"Coron forex" (a variation of rsx) from here : Coron Forex — сигнальный индикатор

[zilliq]

Hi Mladen and Mr tools,

When you will have time, can you create an indicator who draw a regression linear channel, based on the zigzag of RSI

In other words LRC around the zigzag as on my picture,

And arrows (code,color and size), when RSI close outside the previous LRC

Like this it will indicate a very good reversal based on RSI

The only 2 options except Arrows are the options for zigzag (points or %), and the appliedprice for RSI

Thanks a lot I think it will be a great indicator for MT4 (I code it and use something like that on PRT)

Have a nice day Guys

Zilliq

[zilliq]

For example, what it need to look like (on PRT we can draw only one LRC at the same time)

THE LRC and the Arrow when RSI close outside the LRC

Of course sometimes it needs to reajust not really repainting

Thanks lot for this and all you do

Have a nice day

Zilliq

[Mladen Rakic]

zilliq:
For example, what it need to look like (on PRT we can draw only one LRC at the same time)

THE LRC and the Arrow when RSI close outside the LRC

Of course sometimes it needs to reajust not really repainting

Thanks lot for this and all you do

Have a nice day

Zilliq

Zilliq

Are you using a classical zigzag or a highest high and lowest low?

[zilliq]

Thanks for your answer Mladen,

I don't see really the difference...

What do you call a "classical zigzag" ? Here it is a zigzag based on point or %

For example if the parameter is 10 points, when the RSI is higher than 10 points of the previous turning point, a new line is drawing.

Same thing with percentage.

Do you mean "classical" zigzag when the turning point are the highest/lowest of a certain period (10, 15, 20 candles ...) ?

Thanks for your interest on it

Zilliq

PS: To "avoid" a recalculating we can probably use a parabolic SAR on RSI, or Gann High/lo on RSI (turning point based on the last crossing between them and RSI) ...I haven't try...

[Mladen Rakic]

zilliq:
Thanks for your answer Mladen,

I don't see really the difference...

What do you call a "classical zigzag" ? Here it is a zigzag based on point or %

For example if the parameter is 10 points, when the RSI is higher than 10 points of the previous turning point, a new line is drawing.

Same thing with percentage.

Do you mean "classical" zigzag when the turning point are the highest/lowest of a certain period (10, 15, 20 candles ...) ?

Thanks for your interest on it

Zilliq

PS: To "avoid" a recalculating we can probably use a parabolic SAR on RSI, or Gann High/lo on RSI (turning point based on the last crossing between them and RSI) ...I haven't try...

I think we should try with non-repainting immediately. Will see what can be done

[zilliq]

Thanks a lot Mladen,

I think Gann Hi/lo on lowest/highest will be better to determine reversal point with no repainting

There will be probably a problem with that because RSI will break the LRC before the RSI make a new turning point

A will see too

Zilliq

[zilliq]

I confirm, unless you have an idea, it seems to be difficult, because as you see, the RSI break the LRC very eraly

Probably, what I use on PRT is better even if it need to recalculate at some times when there is another highest

Zilliq

[zilliq]

For example as you see,

The indicator draw a first LRC based on the Zigzag

First signal when the RSI break the LRC

BUT, some minutes after we have a new high (who invalidate the first signal)

So, the first LRC is invalided too, and a new LRC based on zigzag is drawing

And we have a new/second signal based on the second LRC

Hope I'm relatively clear

Try, but I think that it will be the better option to 1/ draw the Zigzag 2/ calculate the LRC on them 3/ Draw arrow when there is a break of LRCs

Thanks a lot for your help on this one

Zilliq

[Mladen Rakic]

zilliq:
For example as you see,

The indicator draw a first LRC based on the Zigzag

First signal when the RSI break the LRC

BUT, some minutes after we have a new high (who invalidate the first signal)

So, the first LRC is invalided too, and a new LRC based on zigzag is drawing

And we have a new/second signal based on the second LRC

Hope I'm relatively clear

Try, but I think that it will be the better option to 1/ draw the Zigzag 2/ calculate the LRC on them 3/ Draw arrow when there is a break of LRCs

Thanks a lot for your help on this one

Zilliq

Zilliq

If zigzag is used for linear regression channel, the the absence of the leg would mean that there is no channel there (and the channel should be strictly limited by the length of the zigzag leg)