Can someone make RSI indicator with Fibonacci ratio?

A

Ahmar824

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Instead of using 70/30 overbought oversold instead use the Fibonacci ratio from zero to 100. Make the 62 ratio as overbought and 38 ratio as oversold. also include RSI divergence. I don't know it might be hard let's see who can do it. thank you!
 
horserider

horserider

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Please think about the RSI and the scale it is based upon. 62/38 ?

On the other hand if you propose to find the high and low of the RSI from the past period of the chart and draw fibs from it I guess that would be a different study. Now think how that would be an advantage over the Fib study of price. I cannot think of how it would be. Maybe someone will want to code this and see.
 
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Ahmar824

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Thank you for the reply! I have done little bit of study on the RSI. when the RSI is on the monthly chart is above 62 also on weekly chart above 62, when the daily RSI gets to 38 it bounces of that level. However I was looking for someone 2 coded so the RSI can have divergence.
 
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Ahmar824

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If you check the INTC monthly, weekly and daily chart. You'll see how the RSI behaves.
 
horserider

horserider

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Thanks for the RSI behavior insight. Did you set your RSI overbought to 62 and oversold to 38? That should fit your strategy.
 
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Ahmar824

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Thanks for the RSI behavior insight. Did you set your RSI overbought to 62 and oversold to 38? That should fit your strategy.
Yes I did, however I'm looking for something with divergence on the RSI
Like in the video
 

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