GMS: The Oscillator
This is my version of an RSI. Basically treat it the same way, but needless to say there's a few more things going into it than just the closing price.
The color of the line is based on my HAMA JAMMA indicator so they could be used in conjunction to help pick potential trend reversals in either direction, overbought and oversold levels will turn the line yellow.
The "Make that a combo?" selection will change the curve and make it more sensitive to sharper price movements.
This works on any time frame as well as any bar type, although for certain bar types you'll probably have to tweak the settings to see what works.
I hope it helps,
Andre
The color of the line is based on my HAMA JAMMA indicator so they could be used in conjunction to help pick potential trend reversals in either direction, overbought and oversold levels will turn the line yellow.
The "Make that a combo?" selection will change the curve and make it more sensitive to sharper price movements.
This works on any time frame as well as any bar type, although for certain bar types you'll probably have to tweak the settings to see what works.
I hope it helps,
Andre
Versionsinformation:
To make it visually easier, at a user's request I added in barcolor for when the indicator is overbought or oversold so the bar itself will turn yellow.