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RSI Selfoptim

The main point of the indicator is pretty simple. It is based on the RSI oscillator. We have noticed that when the market moves strongly in a particular direction, RSI also changes its values between neighboring bars. The RSI Sefloptim is based on the algorithm of statistical analysis of such changes and finding their extrema. Using this statistics which permanently updates and optimizes itself, the indicator offers entry points.

Parameter Explanation

  • Optim_start - a candle/bar where RSI data analysis interval starts.
  • Optim_end - a candle/bar where RSI data analysis interval ends.
  • Visual - number of bars to be displayed starting from the zero one.
  • SizeArrow - size of an arrow indicating an entry points.
  • Distance - distance from the candle High or Low of the signal arrow.
  • Sensitivity - indicator period.
  • k - coefficient from 0 to 1. Assigns percentage ratio from the extreme point when analyzing changes of RSI data.

Usage Tips

  • Do not set too large ranges for candle analysis to ensure more accurate operation. Recommended maximum value is 100.
  • To perform more precise analysis, we recommend to select highly volatile periods but which are not too far from the history.
  • The k coefficient showed its worth in the interval from 0.3 to 0.5.
  • The k values below 0.3 increase number of signals but compromise the quality. The advantage is that you have time to enter with a better price in a strong trend.
  • The k values above 0.5 ensure less risky signals, but the entry price will not be so attractive.
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Version 1.2 - 2015.08.25
Added notifications: push and email.
Version 1.1 - 2015.08.20
- Fixed comments in the log.
- Added vizualization of the range where the indicator performs its calculations.