[blackcat] L1 RSMK

Level 1

Background

This is a modified version of indicator from Markos Katsanos’ article in the March issue, “Using Relative Strength To Outperform The Market”.

Function

In “Using Relative Strength To Outperform The Market” in this issue, author Markos Katsanos presents a trading system based on a new relative strength indicator he calls RSMK. The indicator improves on the traditional relative strength indicator by separating periods of strong or weak relative strength.

I found it helpful for divergence identification.

Remarks

This is a Level 1 free and open source indicator.

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