Eddy.Beneteau

RSI Black Wolf [EDDY BENETEAU]

RSI Line on the Candles ... So Simply and Magic ;)
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study("RSI Black Wolf [EDDY BENETEAU]", shorttitle="RSI_Black_Wolf", overlay=true)
obLevel = input(70, title="RSI Overbought")
osLevel = input(30, title="RSI Oversold")
length = input(30, title="RSI Length")
src=close
ep = 2 * length - 1
auc = ema( max( src - src[1], 0 ), ep )
adc = ema( max( src[1] - src, 0 ), ep )
x1 = (length - 1) * ( adc * obLevel / (100-obLevel) - auc)
ub = iff( x1 >= 0, src + x1, src + x1 * (100-obLevel)/obLevel )
x2 = (length - 1) * ( adc * osLevel / (100-osLevel) - auc)
lb = iff( x2 >= 0, src + x2, src + x2 * (100-osLevel)/osLevel )

plot( avg(ub, lb), title="RSI Midline", color=gray, linewidth=1)
Looks good were you able to backtest it?
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I use it every day ...
I start every day at 6 am "french time" and finish at 6 pm at 15 minuts
Cos i can take the general way of the day take 50 pips and play volume at the % capital ;)
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I have played it works well on US ETF's too
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Its another version of the RSI by Giorgos-Siligardos
Reverse Engineering RSI, by Giorgos Siligardos
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but your is close to the market line , my BlackWolf take the opposit way and come cut the market at the last time as possible ;)
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It looks very good
Thank you for sharing
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thanks :)
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Do you use the default settings also for 60 min timeframe?
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i made it for the 15 minuts but sometime used in 1 hour too
Probably need a very short modification but it's work very well.
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andreas73 Eddy.Beneteau
what would you change for 60min?
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how do you trade this? When price crosses or counter-move?
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