Extreme RSI v2
Unfortunately this indicator is no
longer available, but you may find Indicator Powered Point and Figure Indicator an interesting alternative!
Description
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Trend Following Mean Reversion RSI Extremes signal trend filtering and fading.
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This Directional Biased Mean Reversion system waits for extreme overbought or oversold RSI levels to enter or exit while still trading in the direction of the trend, filtering and signal fading on a moving average. Based on Richard Weismann Extreme RSI.
Key Features
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Configurable Trade signals entry, stops and exits, alerts, audible alerts, on chart Indicative stats, visual backtestable!!!
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Incorporates proprietary signal fading and target control to alter trade durations and signal frequencies to suit
Features
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Directional Bias Filter– provides considerable increase in probability of successful trades.
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DirectionBias=0 off
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DirectionBias=1 go long if SMA is rising, go short if falling
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DirectionBias=2 go long if SMA is rising and close above, go short if falling and close below
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Red/green arrow for the entry.
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Stop pink Dot
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StopHit Red Dot
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Alerts
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Sounds - Alarms
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Visual Back testing
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Indicative Stats
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Multi Target/Stop Exit Strategies
Parameters
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100% configurable parameters
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Configurable Stochastics and CCI
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3 Target Modes - Ticks, StdDev, Extremes
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3 Stop Modes - Ticks, StdDev
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Directional Bias On Off
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Optional Timebased Exit
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Alert wav file
Settings Information
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Tick Charts 89, 144, 233, 978
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Minute 1 , 3, 5, 10
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Currencies, ES, NQ, 6B, 6E
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Forex, FDAX - Experiment!
Comments
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Likes range bound markets. Selling recent highs and buying recent lows in the direction of the long term trend. Offers audible and graphical Entry, stop and target, signals. Use it with discretion to price action and unsustainable emotionalism and sentiment. Enter trades manually on chart trader with a NinjaTrader ATM you define and rake in the ticks!
