Bollinger Bands or Bollinger Bands (BB) is a channel indicator that has a serious drawback. It
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“The battles between bulls and bears proceed to affect worth habits lengthy after they finish. Traces of those battles can be utilized in technical evaluation to handle dangers and seek for buying and selling alternatives. Use the “development mirror” to check the areas of volatility and the influence of the earlier worth motion on the present development when the value reverses and crosses these ranges.” – Investopedia.com
“The battles between bulls and bears proceed to affect worth habits lengthy after they finish. Traces of those battles can be utilized in technical evaluation to handle dangers and seek for buying and selling alternatives. Use the “development mirror” to check the areas of volatility and the influence of the earlier worth motion on the present development when the value reverses and crosses these ranges.” – Investopedia.com
RSI Mirrors and Reflections is a dependable indicator that makes use of a number of intervals of RSI, mirrors and reflections based mostly on RSI values to point the energy of worth actions and reversals. Three upward and three downward RSI reflections are calculated: the separation and divergence of the RSI reflections point out the anticipated robust/weak worth motion (see screenshots). The intersection of long-term and short-term RSI strains serves as a affirmation of the development. Mirrors (strains) above and beneath the indicator can be utilized together with reflections (coloured bars) to trace the energy/weak spot of the value motion.
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As proven within the screenshots beneath, RSI Mirrors and Reflections can be utilized to seek for robust worth actions, observe the development and keep away from untimely exit from the market, which may happen when utilizing solely candlesticks or much less purposeful indicators. The indicator can be utilized each individually and as an addition to buying and selling methods on any timeframes and devices. It goes effectively with the MACD and transferring averages.
- RSI Interval 1 (default is 14): short-term RSI calculation interval
- RSI Interval 2 (default 50): Lengthy-term RSI calculation interval
- Plot RSI Reflection Traces (default true): Draw development strains by means of shaded reflection bars for higher visibility
- Plot RSI Mirror Traces (default true): draw mirror values of RSI
- Reflection bar width (default 4): regulate the width of all reflection bars on the identical time
For higher rendering, the RSI values oscillate between -50 and 50, not 0 and 100.
For higher rendering, the RSI values oscillate between -50 and 50, not 0 and 100.
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