RSI Heat Map for Tradestation

RSI Paintbar

RSI Heat Map

RSI Bands

Full range of possibilities
Every trader knows that Relative Strength Index (RSI) oscillates between 0 and 100. And pretty much every trader knows that when 14-period RSI goes above 70 market is overbought and if it drops below 30 market is oversold. At least this is what the books say.

Closer look reveals that only RSI(2) gets readings close to 0 or 100. If we take most popular RSI(14) we will rarely get the reading above 85 or below 15, and RSI(30) will barely go above 75 or below 25. Therefore oversold and overbought zones that are 30/70 for RSI(14) will almost never be reached by RSI(30) and are frequently crossed by RSI(2). So comparing short-/mid-/long- term readings of RSI gives no credible information to the trader.

Idea behind developing Advantage RSI was an adjustment of regular RSI to get normalized readings regardless of calculation period. This way trader can compare, add, subtract or average RSI readings of different periods, getting the full picture of current market situation. Another important feature of Advantage RSI is the possibility of going below 0 or above 100. This will happen very rarely, but will alert a trader of unusual market conditions. Advantage RSI is created by traders for traders. No high science behind it. Just some mathematical calculations, years of market experience and desire to make trading easier.

Advantage RSI package includes single period Advantage RSI (Indicator, RadarScreen), Advantage RSI Ultimate (Indicator, RadarScreen, PaintBar), Advantage RSI Adapted Moving Average and Advantage RSI Heat Map.

Advantage RSI parameters:
• RSI period
• Overbought level
• Oversold level

Advantage RSI Ultimate parameters:
• RSI short term period
• RSI medium term period
• RSI long term period
• Short term weight
• Medium term weight
• Long term weight
• Overbought level
• Oversold level

Advantage RSI AMA parameters:
• Period
• Sensitivity in Percent
• Volatility (Yes/No)
• Volatility Width
• Volatility Lookback

Advantage RSI Heat Map parameters:
• Start Value (shortest period)
• Step
• Exponential Average Smoothing Length

Check how to use Advantage RSI on our Blog.

Price: 9 usd / month

Advantage RSI Manual

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