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StocRSI

by Steven Sommer, 1971 days ago
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The StocRSI indicator is a hybrid indicator that employs a 21 day fast stochastic indicator , 14 day RSI, adds half the value of each and takes a 13 day EMA of the summed value to arrive at the final calculation. It was developed and employed by Don Beasley who is a professional money manager and currently a pricipal at Trademark Capital in Athens, GA.

The idea is to identify assets that are trending up in value (StocRSI > 50) and purchase then and hold these assets until they cease to trend (StocRSI < 50). Another concept is to hold the asset when they are strongly trending (StocRSI > 65).

Looking at the plot of the indicator and the underlying asset, one might be well served to apply a moving average to serve as a "signal line" and hold the underlying asset when the StocRSI > the "signal line" moving average. This would hold the underlying asset while it is trending up and sell the asset when it was trending down. On might hold the asset when the StocRSI > 65. You may want to apply some sort of smoothing to StocRSI prior to creating the "signal line".

The plot of the standard function is a bit mundane and you can spice it up a bit:

Plot multicolor line with Green = Stoc > 50
plot(StocRSI, 'StocRSI(21,14,13)', colorRed, ChartLine, StyleSymbolNone);
UpdateColor(StocRSI > 50, colorGreen);
plot(50, 'Threshold', colorBlack, chartLine, StyleSymbolNone);


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Type: Trading Indicator

Object ID: 1485


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