ntccharvester asked:
I haven’t found much info. as to how to use TSI as a lower indicator on charts. From what I understand it’s somewhat a combination of RSI and MACD.
Has anyone used this? What is it that you look for? What settings would you use for short time periods(5 min. - 60 min. charts).
I haven’t found much info. as to how to use TSI as a lower indicator on charts. From what I understand it’s somewhat a combination of RSI and MACD.
Has anyone used this? What is it that you look for? What settings would you use for short time periods(5 min. - 60 min. charts).
Any help would greatly be appreciated.
Thanks;
Dan
Thank you for that investopedia link. I hadn’t found that before.
What I am most concerned with is, is what settings can I use for short term trading(day trading) and what is it that I should be looking for for entering and/or exiting a trade.
It seems that settings of 14, 7 and a 3(or 5) as a signal may be appropriate for short term trading.
Does anyone use this setting?
Dan
{ 1 comment… read it below or add one }
to quote investopedia at :
A technical momentum indicator that helps traders determine overbought and oversold conditions of a security by incorporating the short-term purchasing momentum of the market with the lagging benefits of moving averages. Generally a 25-day exponential moving average (EMA) is applied to the difference between two share prices, and then a 13-day EMA is applied to the result, making the indicator more sensitive to prevailing market conditions. After the data is smoothed, some calculations are done to make the indicator fall in a range from +100 to -100, or from +1 to -1.
A signal line (7-day EMA) is usually added - as it is to the moving average convergence divergence indicator - to help identify reversals. In addition, values of -25 and +25, like the levels of 30 and 70 used in the relative strength index, can also be used to identify levels where a security is overbought or oversold. The true strength indicator is a variation of the relative strength index.
you can try those setting on like a 5 minute chart for day trading but any setting shorter than those will probably give too many false signals and will cause a lot of whipsaws for you. good luck