In December 2020, John Ehlers introduced an exciting new indicator known as MyRsi with NET (MyRsi with Noise Elimination Technology) in the TASC magazine. This tool leverages a unique form of Kendall (auto)correlation to help filter out market noise and provide clearer trading signals.
What sets this version apart is the ability to use your desired prices instead of being locked into a fixed close price. This flexibility can help tailor your trading strategy more effectively.
Recommendations:
- Feel free to use MyRsi just like any other RSI tool you might be familiar with.
- Combining signals from both the RSI and the NET line can yield better results. From what I’ve observed, the NET line often generates quicker and cleaner signals.
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