If you’re looking to enhance your trading toolkit, let me introduce you to MyRSi, a fascinating variation of the Relative Strength Index (RSI) developed by John Ehlers. Unlike the standard RSI you’re used to, MyRSi offers a fresh perspective with its distinct calculations. While Ehlers originally coined the term, we’re here to explore its unique features and how it can benefit your trading strategy.
So, what sets MyRSi apart from the built-in RSI? Let’s break it down:
- Range: MyRSi values range from -1 to 1, allowing you to use the zero cross as a potential signal for market reversals.
- Signal Differentiation: The values and signals diverge from those of the standard RSI, which means your trading decisions may be based on different thresholds compared to the traditional 50 level.
How to Use MyRSi:
- Think of MyRSi as just another tool in your RSI arsenal. It can be used in the same way as the traditional RSI to identify potential overbought or oversold conditions.
Incorporating MyRSi into your trading strategy could open up new avenues for analysis and decision-making. Give it a try and see how it complements your existing indicators!
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