by Outside_The_Box » Fri Sep 20, 2013 5:37 pm
Just to clarify, this strategy buys when RLW crosses up into the overbought zone and sells when price crosses down into the oversold zone? I'm assuming this is in hopes that the indicator becomes embedded in the zone because price is trending in that direction?
Question: Can anyone modify this so that the strategy buys when the RLW indicator crosses (or closes) in the oversold zone and sells when it crosses (or closes) in the overbought zone? This is a great indicator for getting in on pullbacks against the larger trend. I like using H1 for entry into the daily trend. Great for multi-day/week swings.