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[Free] Karthik Dynamic RSI
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 NinjaScript ready for advanced usage, only restricted by your imagination
- Expose dedicated NinjaScript signals NT8 only
- Signal_State: 1 = overbought, -1 = oversold, 0 = n/a
Instruments: futures, stocks, indices
Interval types: timebased or non-timebased, standard or custom
Chart styles: whatever
Ready to use out of the box
Fully configurable & customizable with ease
- 10 Nov 2021 - Massive changes, fixes and improvements were made (display name, Z order).
- 27 Sep 2018 - The indicator was re-exported to be compatible with recent changes of the platform; the toolbar menu was removed.
- 02 Sep 2016 - Setting groups were reordered; the indicator was re-exported to be compatible with recent changes of the platform.
- 25 Jul 2016 - The indicator was released (converted from its NT7 version).
NinjaTrader 7 version:
- 03 Sep 2014 - The indicator was released.
[Free] Karthik Dynamic RSI $$5 5Mike100%It took me a while to get feel for this indicator, but when I looked at the high and low line as a type of hi-lo channel similar to a Donchian channel, it suddenly made sense. When learning it helps to thicken the width and then when you get accustomed to using them you can drop back to the default more subtle appearance. You will also find many instruments have a characteristic period setting. in summary, you have to spend some time with the indicator over several instruments then the value of it will become apparent.
These testimonials may not be representative of the experience of other users or customers and do not guarantee future performance or success.
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