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vrtrader64

RSI Indicator Horizontal Lines

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RSI indicator has default horizontal (dashed) lines at 30, 50, 70. Shading in green/red also occurs when RSI value is over 70 / under 30.

 

I guess these give the "standard" overbought/oversold indicator.

 

In some cases we may want to deviate from the standard...so is it possible to:

 

1) allow customization of the lines' values (i.e. other than the default 30,50,70) - for each chart ?

2) optionally suppress the display of horizontal lines/corresponding shading - again, for each chart ?

 

If not currently possible, could you consider that for a future release? 

 

Thanks

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I see - thanks for including that.

 

Perhaps, a more general approach would be to allow user to specify horizontal lines at 2 arbitrary levels within the RSI subchart? Maybe even make them "draggable". Consider this a low-priority feature request.

 

My motivation for even asking this is that I read an interesting alternative interpretation of RSI as a trend indicator (as opposed to overbought/oversold) ... here: http://fatf1nger.wordpress.com/2014/09/17/introductory-rsi-post/

 

Cheers.

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