WhenToTrade

Usage of an enhanced RSI indicator to spot turns

Education
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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The following chart shows the enhanced RSI indicator in with the settings of the current dominant market cycle. The cyclic-smoothed (cRSI) indicator is able to indicate price turns analog to indicator turns above/below the cyclic lower/upper much clearer than the basic RSI .

The indicator is available for usage in TradingView:
Trade closed: target reached: cRSI turned up below bands. Dominant cycle still 61. Lets see...
Comment: Signal Review:
This example was a real live example to follow the cyclic-tuned enhanced RSI with the latest BUY signal @3600 on 17th Sept. with an following +50% upmove to 5500!

Lars von Thienen

Cycle Analysis Tools
https://www.whentotrade.com

TradingView Cycle Knowledge Docs
https://docs.cycle.tools/books/tradingview-cycle-analysis-indicator

Comments

The problem is you add the arrows after the fact. The RSI could have turned up one more time. You only know after the price has fallen. Look at your first example, after the 3rd downturn on RSI the price fell.
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WhenToTrade CryptoAddict77
@CryptoAddict77, sure, as with every indicator - no exception here. The example is just to compare classic vs. enhanced RSI version. The highlighted signal mid July would not be a signal on the normal RSI. All standard methods to read an indicator also apply here as well for sure.
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CryptoAddict77 WhenToTrade
@WhenToTrade, Makes sense, thanks for the clarification.
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