Self Adjusting RSI indicator: dynamic overbought and oversold levels

Self Adjusting RSI Indicator - is a modification of one of the most popular RSI oscillatorswhich implements self-correcting overbought and oversold levels.

The Self Adjusting RSI indicator corrects the width of oversold and overbought bands by two different algorithms:

• if the MA-Method parameter is set to true, the lines are calculated using an algorithm based on the moving average;
• if the MA-Method parameter is set to false, an alternative algorithm based on the standard deviation will be used.

According to experts at fortrader.org, the advantage of this approach is that it can be applied to multiple market conditions without regard to the settlement period. Such standardization facilitates the use of Self Adjusting RSI indicator in multiframe analysis.

Download Self Adjusting RSI indicator

Other modifications of the RSI indicator