Can someone make RSI indicator with Fibonacci ratio?

Ahmar824

Member
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

Well-known member
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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

Member
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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