Is there an indicator better than RSI?

[poststreet]

Is there an rsi indi , more predictive than rsi 14 ??? thanks

 

[adii800]

Not really an answer to your question, but I discovered something weird a while ago (about a year ago). I was plotting the slope of an EMA in degrees alongside my RSI, and they looked EERILY SIMILAR. I swear, I thought I found a glitch in the matrix after that lol.

Don't the lines and their proportional movements look extremely similar? I haven't even optimized the parameter of the EMA to make it better resemble the RSI

It might have something to do with how RSI is calculated or the indicator is super overrated haha

You might want to check this out as well as other related posts in the meantime

 

[germanburrito]

@adii800 There's also an inverse RSI, that plots on the chart and will plot whatever level you want, a good one to use is Fibonacci ratios, this guy talks all about it.

 

[MoneyMagnet]

@adii800 The slope of a price line (or price analog, such as a moving average) is basically a measure of the momentum of the line. Since RSI is designed to measure momentum as well, it's not too surprising that they have similar contours.

@poststreet For my money, the most "predictive" indicator is the slope of the slope (2nd derivative) of a Hull Moving Average. @mashume goes into great detail and development of the idea here, but I have used the concept to identify likely turning points for sometime with this simple formula:

def hma = MovingAverage(AverageType.HULL, ohlc4, 50);
plot x = (hma - hma[1]) - (hma[1] - hma[2]);

Used as an oscillator, zero crossings are often close behind turning points and minima/maxima often seem to lead them. A length of 50, as shown above, is good for daily swing trades, in my experience.

 

[poststreet]

I don't know how I missed the replies but thanks to all , ill look at all