I did an experiment a while ago, which I now repeat as a standalone idea. The method is simple, draw some "meaningful" trendlines on RSI which contain 3 touches with RSI. The 3 points on which RSI touches the trendline, draw a curve on the price chart. You now have a beautiful chart. Some experienced traders/coders out there could make an indicator that creates channels on RSI, which translates them on the price chart. With this comparison, we see what RSI is reading, how it is working. We can better understand what RSI trendlines translate to price.
Moral of the chart: Oil price could be bull-flagging.
I am reposting this because this is beautiful, harmonic... organic in a way... I added an extra line on this one.
Tread lightly, for this is hallowed ground. -Father Grigori
. A picture is worth a thousand words.. amazing display !
akikostas
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@The_Unwind, It is beautiful isn't it? Nature tends to show it's beauty even in stock market. Even though this chart isn't strictly technical or directly tradeable, it is nice to look at.