Hey traders! If you’ve been in the game for a while, you know how the Relative Strength Index (RSI) can be a bit of a rollercoaster ride. It changes direction faster than a cat on a hot tin roof, which can make trading decisions a bit tricky at times. That’s where the DSL RSI comes into play—a smoother, more reliable alternative that’s turning heads in the trading community.
The DSL RSI builds on the classic Rsi(oma) concept by filtering price data before it’s crunched into the RSI formula. This adjustment helps reduce those erratic swings, making the indicator a practical tool for your trading arsenal.
This version not only performs all the functions of the traditional Rsi(oma) but also adds discontinued signal lines. These lines serve as dynamic entry and exit points, moving away from fixed level thresholds, giving you greater flexibility in your trading strategy.
- Feel free to use it just like you would the regular Rsi(oma). It’s that versatile!
- If you prefer a setup akin to fixed levels, try a longer DSL period (like 1000). Don’t worry; it won’t bog down your terminal.
- For a setup that mimics a “simple slope mode,” give a shorter period a go (like 2). This might not be an exact match, but it’ll get you close!
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