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Figurelli RSI

Figurelli RSI

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The original RSI


In my opinion, Welles Wilder RSI (Relative Strength Index) is a great momentum oscillator that works fine for small periods values (from 2 to 20).







The proposed RSI

The main idea of the proposed RSI is better detect the signal overbought/oversold situations using larger periods for better trend detection in any timeframe.

For this, I did some changes to it performe as good for greater periods, like 120, introducing a gain variable.

So, if you use 120 period in original Wilder RSI, you can inject a gain to see the graph as well as small periods.

Parameters description:

- period: original RSI period

- gain: gain injected for greater periods better visualization



Example 1: the advantage of larger periods using Wilder RSI gain injection in EUR/USD H1

figurellinrsih2_small.png
Author
Salvador
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