Regarding the SR_R_C (Stoch RSI + RSI + CCI) indicator...Hello?
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We use several methods to analyze charts.
When you start studying charts, you study a lot of things.
However, you should forget everything you have studied, trends, patterns, and indicators when conducting real trading.
Otherwise, it is because you are stuck in the studied frame and try to fit the chart into the studied frame without interpreting the chart movement as it is.
I think that this behavior makes you analyze charts with subjective thoughts, which increases the chances of creating a wrong trading strategy.
To prevent this, we will explain a new indicator.
The SR_R_C indicator is a combined indicator of the Stoch RSI, RSI, and CCI indicators.
- The set values of the Stoch RSI indicator are 14, 7, 3, 3.
It is displayed as one line by treating it as the middle value of the K and D lines.
- The setting value of the RSI indicator is 14.
Instead of the existing Close value, we tried to maintain the continuity between the oversold section and the overbought section by calculating the Heikin Ashi Close value.
RSI indicators are displayed in columns.
- The set value of the CCI indicator is 9.
When the CCI value rises above the +100 point, it is marked as overbought, and when it falls below the -100 point, it is marked as oversold.
CCI indicators are displayed in bgcolor.
There are a lot of information on how to interpret each indicator if you search.
However, you can read the searched content and forget it.
The detailed interpretation method can add subjective interpretation to the objective information that can be obtained through the index, so you can forget about the method of interpretation of the index itself.
The core interpretation method of the SR_R_C indicator can be interpreted that if two or more of the three indicators are defective, a reversal of the trend is highly likely.
For example, if two or more of the Stoch RSI, RSI, and CCI indicators are in the oversold zone, it can be interpreted that there is a high possibility of turning into an uptrend.
Conversely, if it enters the overbought zone, it can be interpreted that it is highly likely to turn into a downtrend.
Trend patterns such as Fibonacci, Harmonic, and Elliott waves will show the result of the discussion depending on the selected point.
Therefore, in order to use these patterns, indicators, and tools, the selection of a selection point is the most important.
However, I think that auxiliary indicators, such as MACD, RSI, Stoch RSI, CCI, etc., can help to obtain objective information because there is no point of choice.
In conclusion, the reason for analyzing the chart is to make a trading strategy based on the analyzed content to make a successful trade, so it is important to analyze the chart in the most objective and essential way.
Even with any of these indicators, patterns, and tools, critically choosing the wrong support and resistance points will lead to trouble crafting a trading strategy.
Therefore, solid learning of support and resistance points is required before studying or utilizing all indicators, patterns, and tools.
Thank you for reading this long article to the end.
For reference, all indicators included in this chart can be used normally if the chart is shared.
Also, you can copy and paste the indicators to other layouts to use them neatly.
