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Sunday, February 19, 2012 10:41:02 AM
GM git..since youre a fib nut I have a little overlay you may like..have been running this through the strat tester and am very pleased with it.As you all know I have been working with HeatmapRSIs a lot lately and being a tweaking fanatic I came up with this overlay combination.
HeatmapRSI(7)
Overlay an RSI(3) applied to typical price
then overlay fibonacci retrace in same panel...be sure and include a .786 fib in the fib tool
Heres a weekly EUR/AUD chart using that overlay..if that sucker manages to break above .236 line its gonna be a real longwinded move but should once again get stymied by the .618 fib
Again..I really like this overlay in backtesting and find it brings a lot more logic to price fluctuations being able to see the RSI(3) reacting to various fib levels
HeatmapRSI(7)
Overlay an RSI(3) applied to typical price
then overlay fibonacci retrace in same panel...be sure and include a .786 fib in the fib tool
Heres a weekly EUR/AUD chart using that overlay..if that sucker manages to break above .236 line its gonna be a real longwinded move but should once again get stymied by the .618 fib
Again..I really like this overlay in backtesting and find it brings a lot more logic to price fluctuations being able to see the RSI(3) reacting to various fib levels
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