Indicator purpose

Ham RSI displays the calculated RSI, as well as the current trend direction of the RSI curve, which is displayed following the RSI value as either 'up', 'down', or 'flat'. In addition to the RSI value and direction, the information is color coded to indicate whether the RSI value is Oversold or Overbought. RSI values that are neither overbought nor oversold are displayed in white.

Settings:General

• Maximum number of bars study will reference - default is Auto-detect.
• Update on every tick - default is Checked - you may Uncheck to improve performance, but the indicator will not be recalculated until the end of the current bar.
• Load additional data for accumulative calculations - default is checked, with a value of 140. This value should be the ten times the highest value you plan to use for Length.

Settings:Inputs

• Length specifies the period of the RSI calculation - default is 14.
• OverSold specifies the value at which the RSI is indicating an oversold condition. If the RSI value is less than or equal to OverSold, the data is displayed in a different color (default is green).
• OverBought specifies the value at which the RSI is indicating an overbought condition. If the RSI value is greater than or equal to OverBought, the data is displayed in a different color (default is red).
• OSoldFGColor and OSoldBGColor are the Foreground and Background colors used to display oversold RSI values. Default is black on green background.
• OBotFGColor and OBotBGColor are the Foreground and Background colors used to display overbought RSI values. Default is white on red background.
• NormalFGColor and NormalBGColor are the Foreground and Background colors used to display RSI values that are neither oversold nor overbought. Default is white on black background.

Settings:Alerts

This Indicator does not currently support Alerts, but that may be a feature of a future release.

Examples:

There are three pieces of information displayed: The RSI value, an indication of whether the RSI curve is ascending or descending or flat, and a color coding that specifies whether the RSI value is overbought or oversold. As the examples below show, you might have an RSI value that is overbought (above the OverBought limit), but the RSI curve may be moving up, moving down, or flat. The following RadarScreen shows some examples. The charts below give the details.

HamRadar01 is not guaranteed for any particular purpose. Trading involves a high level of risk - and neither Prototech, Inc., nor Nelson Crowle (HamFon) will be liable for any losses that you incur. HamRadar01 is licensed for individual usage - you may use it on any number of machines, but only with the TradeStation Customer Number that you provide when you order. You may not reverse engineer HamRadar01, or share it with other users.

If you have any questions, please email me.