Rsi Paint Indicator
Maitland, FL (PRWEB) August 16, 2011 You Learn Forex releases The RSI Paint Indicator, version 2 for currency trading specialists. What is The RSI Paint Indicator? It is a proprietary trading indicator adapted from the well-known RSI, Relative Strength Index available on virtually all trading platforms but with a twist. Standard RSI is used to determine oversold and overbought conditions.
Rsi Paint Indicator Download
The RSI Paint Indicator however in addition to this standard, automatically draws divergences (bearish and bullish) and lesser known reversals (bearish and bullish) as discovered by Andrew Cardwell a student of Welles Wilder. Welles Wilder created the Relative Strength Index in 1978. Paul Dean, the co-designer of The RSI Paint Indicator along with trader/programmer David Moser says this about the indicator, “Most traders use RSI to confirm overbought or oversold conditions. However, most traders are cautious about this type of analysis because markets can stay overbought or oversold for long periods.
The RSI Paint Indicator adds to that information by showing traders where momentum conditions are changing by automatically drawing divergences which are most prevalent in retracements and also the more powerful but little known reversals, which signal that the trend is continuing.” The RSI Paint Indicator alerts traders with a pop-up box to the screen which provides information as to the time of the signal, the currency pair, time frame and other relevant data. “The trader can use the indicator on lower time frames to day-trade or scalp,” says Dean, “and they can use it on longer time frames.
It doesn’t matter how many pairs you put it on, or how many different time frames. When RSI finds a divergence or reversal, the alert pops up on the trading screen and the RSI Paint Indicator draws it.” The RSI Paint Indicator alert can be sent to a cell phone or email for traders who are on the go or for those traders unable to sit in front of their screens all day. Features for the indicator include:. The ability to change the RSI period to any period. Show just divergences or just reversals (default is both). Show divergence and reversals on price.
Tweet with a location. You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. Mar 09, 2014 RSI Paint Indicator Forex Trading Indicators 8:00 AM No Comments Within the first phases of latest trends, volatility goes up though inertia tends to slow down price frequency of reverse.
Filter reversals by RSI range. Mouseover information on both RSI signal lines and price lines. Alert customization. Color and Chart customization “This newest RSI Paint version is all about allowing the trader who uses RSI or would like to use it the ability to customize his or her charts for different currency pairs and different time frames. Currencies move in different paths depending on whether they are trending or moving in a range of consolidation. The currency trader can adapt The RSI Paint Indicator to those conditions to more accurately locate the signals,” said Dean.
“Like Andrew Cardwell, we at You Learn Forex, believe that RSI can be an adjunct to traders using other methods but we believe the real power of The RSI Paint Indicator is its ability to create signals on its own.” You Learn Forex has built an entire trading system and course around The RSI Paint Indicator. “We feel that trading, in particular for the day-trader or scalper, is about the current momentum in the market. We teach traders how to use that momentum with The RSI Paint Indicator to create powerful, low drawdown trades.” Dean started You Learn Forex 3 years ago with his first book on RSI reversals called, RSI Fundamentals: Beginning to Advanced which is now in its second edition (2010; 196 pages, 110 color illustrations).
He has also written 4 other books on Forex and recently wrote, The RSI PRO Forex Trading Course, a complete trading course that emphasizes the use of RSI reversals and momentum in trading Forex. You Learn Forex is located near Orlando, Fl.