Webby's RSI (Really Simple Indicator)
Webby's RSI (Really Simple Indicator) is a technical indicator designed to gauge the health of an uptrend. The concept and original implementation was created by Mike Webster, previously a portfolio manager for William O'Neil, founder of Investor's Business Daily.
Most often used with the Nasdaq Composite (IXIC), Webby's RSI is the percentage of the low versus the 21-day moving average. At the beginning of a bull market, the higher the value, the better, as we want to see power.
Using the zones shown on the chart:
0.5% and 2.0% - Ideal
2.0% to 4.0% - Caution
4.0%+ - Warning
Most often used with the Nasdaq Composite (IXIC), Webby's RSI is the percentage of the low versus the 21-day moving average. At the beginning of a bull market, the higher the value, the better, as we want to see power.
Using the zones shown on the chart:
0.5% and 2.0% - Ideal
2.0% to 4.0% - Caution
4.0%+ - Warning
Release Notes:
Version 2.0
▪ Optional background color shown as a gradient.
▪ Customize plot type, color & moving average.
▪ Show/hide zone lines.
▪ Optional background color shown as a gradient.
▪ Customize plot type, color & moving average.
▪ Show/hide zone lines.
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Paypal Donation: is.gd/PayPal_Donation (thank you!)