Today, I'm demonstrating a new technical indicator on the ticker O, a monthly paying REIT widely recommended by traditional financial advisors for its long history. The indicator uses pivots and rsi to generate support and resistance and logic to check if the close is greater than resistance or less than support levels. The color of the candles change based on which support or resistance has been broken as well as an optional toggle to display labels.
The premise for this is based on my experience while obtaining my SIE and studying for my series 7. A frequently testable question on technical analysis is how a technical trader would open a buy stop or stop loss if the close break R1 or S1. This got me thinking 🤔. Why isn't there an indicator for this?
Beyond the indicator, O is an asset I plan to slowly DCA into as I retire due to the reliable income. That being said, I'm deeply concerned about its current level as it's near pandemic level, recent closed below S4, and continues to close below S1 and lower...
What are your thoughts on this indicator? What are your thoughts on O, the US real estate market, etc?
I'll have to look at the indictor over time but as for O and real estate market, I think is a good time to buy. Warren Buffet- when you feel greedy, be fearful. When you feel fearful be greedy. Also, I look at RSI and Implied Vol. I set it up with RSI on top of Implied Vol and when the two get close to each other or RSI is below 30 and Implv is high, usually a good time to buy. Supply in housing could be higher but many home owners are sitting on low interest mortgages so I think real estate will crash just for those reasons.