Problems with RSI limits
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I want to create a simple signal generator.
This generator should only detect a RSI level of over 70 (Median)! And draw a line.
The Timeframe in the MT4-Charts is M1 and the RSI period is 14
But, often I get a signal (red line), also when the median seems to be under 70! And sometimes I get not a signal, when the median seems to be over 70.
I don´t know, why I get this wrong signals?......
Chart_1.gif
CHart_2...jpg -
The same story again
You are working with the current candle. The current candle moves up and down, it is unfinished. You get signals because in the middle of the candle RSI was at that level, but then changed. Look at RSI at the current candle, does it move?
Try with Candle ID = 1.
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Thanks for the answer!
But, some questions for generelly information:
In the MT4- Charts I get genelly a lot of ticks per minute. I think this must been like 1 Tick per second (60 per minute). Arent so?
But in the MT4- indicator chart of RSI I get only 3 points, one in the beginning of the M1-Candle, one in the middle and one in the closing of the candle.
But, when I have the settings "median of RSI in M1", how much values is using fxdreema for calculation this? (3, 60 or something else?) -
RSI is similar to MA - each point is a result from X candle values. Candles are built from few points as well - open, close, high, low, and in addition to that there are other points, like the medium price. So you can decide to built RSI based on one of these points. This has nothing to do with the count of ticks per minute.
In your case, you compare the value of RSI for the current candle, but because you have "Once per bar", you do that when the candle is brand new (a single point actually). The RSI value of that moment is something that will not stay the same for long, and you will never see it again, because it is temporary
