I’ve bought a book but the author is writing about a weird RSI?
You see the RSI has 2 lines? The author is writing: “The orange RSI is the daily RSI and the blue RSI is the current timeframe which happens to be a 4 hour chart.”. How can I get the same as him, like a RSI with 2 timeframes?
I don’t recognise the Platform you are using but you need to look for a Double RSI Indicator.
It will contain two different parameters for multiple RSI settings, both will use the same bound settings ie; 75 - 25.
The RSI’s can be used like an Oscillating MA Indicator where the faster RSI (4H) above the slower RSI (D1) indicates long opportunities and visa versa…
Hope this is of help…
But if I get a double RSI indicator I can put 2 periods, but the author is talking about 2 timeframes? I really don’t get the book here, how can I get exactly like the author?
Periods & Time Frame parameters, I have a version that I coded, C# which won’t work on your Platform that contains 3 TF’s, so you can set to a long time frame say, W1, D1, 4H cross or short time frame such as 4H, 1H, 15 mins cross.
https://www.forexfactory.com/showthread.php?t=489384
Over on Forex Factory there is a large thread on this strategy. (See Above)
MT4/MT5 and Ctrader have indicators like this available as Demo’s
Thank you! I will go look at it!
thanks for the information