SEA RSI/DMI CrissCross v1.3
*This is not financial advice, I am not a financial advisor. Use at your own risk, good luck and thank you.*
-Building from the original RSI CrissCross I've added an ADXDMI that's also fully adjustable including resolution. The ADXDMI is interpreted visually as a histogram(adx+di+/adx+di-, respectively for bull/bear reads), can also enable standard ADXDMI visually by adjusting the transparency. Threshold for the histogram is 13(25), 23(50), 52(75) respectively.
-Utilizing the varRSI as a "fast" RSI relative to the fixedRSI(your current TF) this provides an early insight into the momentum on lower TFs(or higher ones should you choose to use it that way).
-After an RSI cross observe the reaction in the bullish / bearish control zones and any divergences that appear indicating a change in momentum.
-Rejection/Support of the MA, after a cross along the control zones provides a nice edge, couple this with a corresponding bull/bear ADX histogram read for extra confirmation of trend.
-For basic risk management, utilize the "fast" RSI crossing the opposite direction of signal (e.g. longing a bounce of the RSI above the MA after a cross would become invalidated if the "fast" RSI crossed back below the MA on the next few closures.
-This same method can be used to take profit, assuming price moves in your favor then begin taking profit when the "fast" RSI crosses back in the opposite direction of your trade, but in strong moves this "fast" cross can happen early so use the fixedRSI cross back if trend seems very strong.
-There are numerous alerts
-Good luck please drop your thoughts.
-Building from the original RSI CrissCross I've added an ADXDMI that's also fully adjustable including resolution. The ADXDMI is interpreted visually as a histogram(adx+di+/adx+di-, respectively for bull/bear reads), can also enable standard ADXDMI visually by adjusting the transparency. Threshold for the histogram is 13(25), 23(50), 52(75) respectively.
-Utilizing the varRSI as a "fast" RSI relative to the fixedRSI(your current TF) this provides an early insight into the momentum on lower TFs(or higher ones should you choose to use it that way).
-After an RSI cross observe the reaction in the bullish / bearish control zones and any divergences that appear indicating a change in momentum.
-Rejection/Support of the MA, after a cross along the control zones provides a nice edge, couple this with a corresponding bull/bear ADX histogram read for extra confirmation of trend.
-For basic risk management, utilize the "fast" RSI crossing the opposite direction of signal (e.g. longing a bounce of the RSI above the MA after a cross would become invalidated if the "fast" RSI crossed back below the MA on the next few closures.
-This same method can be used to take profit, assuming price moves in your favor then begin taking profit when the "fast" RSI crosses back in the opposite direction of your trade, but in strong moves this "fast" cross can happen early so use the fixedRSI cross back if trend seems very strong.
-There are numerous alerts
-Good luck please drop your thoughts.