What's New: Smoothed RSI & Iron Ore
By Colin Twiggs
February 27, 2017 1:00 a.m. EST (5:00 p.m. AEDT)
Iron Ore Spot Prices
Iron Ore end-of-day spot price is now available in the Commodities (cm) folder, with the symbol TR_cm.
Spot price is for 62% Fe, CFR China in $US/metric tonne.
In response to requests from the Forum we have added a smoothed version of Welles Wilder's Relative Strength Index (RSI) to the list of indicators.
Here is an example using Amazon [AMZN].
Sell signals, when Smoothed RSI reverses below 80*, may be susceptible to whipsaws, as shown by the red arrow in August 2015.
However, Smoothed RSI seems to deliver well-timed buy signals (when it recovers above 20) indicated by the green arrows after secondary corrections.
* The failed swing in September 2014 also presents a valid sell signal.
Users will need to experiment with varying time frames in order to achieve the optimum trade off between responsiveness and accuracy.
To access Smoothed RSI before the next update, upgrade to the latest Beta version. On the chart menu, select Help >> Upgrade to Latest Beta.
You will find the new indicator under Indicators >> Smoothed RSI.
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