In my opinion, Welles Wilder RSI (Relative Strength Index) is a great momentum oscillator that works fine for small periods values (from 2 to 20).
Thank you for reading this post, don't forget to subscribe!The proposed RSI
The main idea of the proposed RSI is better detect the signal overbought/oversold situations using larger periods for better trend detection in any timeframe.
For this, I did some changes to it performe as good for greater periods, like 120, introducing a gain variable.
So, if you use 120 period in original Wilder RSI, you can inject a gain to see the graph as well as small periods.
Parameters description:
– period: original RSI period
– gain: gain injected for greater periods better visualization
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