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[Free] Karthik Dynamic RSI

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Description

AVING TIP
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Platform

Availability for:

  • NinjaTrader 7 platform: AVAILABLE NOW
  • NinjaTrader 8 platform: AVAILABLE NOW

Overview

It has been claimed that traditional oscillators like RSI do not evolve well with the market, due to their fixed overbought and oversold thresholds. That’s why some traders have introduced their own RSI versions which can dynamically define overbought and oversold regions, adapting to market conditions.

This RSI version was introduced by Karthik, a very kind technician who has helped the community so much with his amazing trading researches: karthikmarar.blogspot.gr. We just converted the indicator from AmiBroker language to NinjaTrader language. The formula of the indicator is rather complicated; if you want to learn it, please visit the author’s website.

This RSI uses dynamic high line, low line, center line as great replacements for 70 level, 30 level, 50 level of the traditional RSI. The RSI staying above high line signals overbought, while the RSI staying below low line signals oversold.

Key features:

  • Plot dynamic RSI, high line, low line, center line
  • Let you define overbought and oversold regions by setting probability values (in the NT7 version, probability values range from 0 to 0.5; in the NT8 version, probability values range from 0 to 50)
  • Let you choose from 9 popular moving-average types to configure center line NT8 only
  • Colorize RSI plot based on whether it is above or below center line
  • Paint overbought & oversold regions
  • Be NinjaScipt ready for advanced usage, only restricted by your imagination
  • Expose dedicated NinjaScipt signals NT8 only

NinjaScript readiness:

  • Can be used in Market Analyzer
  • Can be used in Strategy Builder
  • Can be used in BloodHound
  • Can be used in 3rd-party indicators, strategies, products
  • Professional & clean signature for easy calling

Dedicated NinjaScipt signals:

  • Signal_State: 1 = overbought, -1 = oversold, 0 = n/a

Compatibility:

  • Instruments: CFDs, forex, futures, indices, options, stocks
  • Interval types: timebased or non-timebased, standard or custom
  • Chart styles: whatever

Usability:

  • Ready to use out of the box
  • Fully configurable & customizable with ease

Media

KarthikDynamicRSI1

KarthikDynamicRSI2

Installation

Please read Installation Guide for details.

Download

Please hit the nice button below to go to a special page where you can download this freebie instantly. You will also have the download access to ALL of ninZa.co's freebies ($1000+ value).

If you have any questions, do not hesitate to contact us. Thank you!

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■ Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

■ Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

■ NinjaTrader® is a registered trademark of NinjaTrader Group, LLC. No NinjaTrader company has any affiliation with the owner, developer, or provider of the products or services described herein, or any interest, ownership or otherwise, in any such product or service, or endorses, recommends or approves any such product or service.