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![\includegraphics[width=0.7\textwidth ,bb=0 0 290 182]{RSIInSpecifiedRange.png}](png/img-111.png)
Buy - RSI at X is in range (min, max)
Sell - RSI at X is in range (min, max)
Parameters available:
Period - period of RSI
Min - minimum value of the range
Max - maximum value of the range
Rule type - please refer to 140 for details
Data type - please refer to 141 for details
Setting RSI Period
Usually 14 days are used in the RSI calculation for daily chart and 14 weeks for weekly chart. The shorter the RSI period, the more sensitive the oscillator becomes and wider its amplitude. Therefore, if your trading horizon is very short, you might opt for RSI with shorter time period, ie. 9 days. If you want to decrease the volatility of the RSI signal, you can lengthen the RSI period, ie. 26 days.
Setting RSI Min and Max values
With this specific rule, you can setup rules to detect RSI at any level of choice and would not be limited by the Buy and Sell definition.
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