Thread: STEP RSI - Vertex FX Indicator

Step RSI is an innovative VertexFX client side VTL indicator based upon the combination of Relative Strength Index (RSI) and Simple Moving Average (SMA). It provides signals based upon the RSI crossover, and should be used in combination with other trending indicators.

In the first step, we calculate the Relative Strength Index (RSI) based upon the PRICE_FIELD and RSI_METHOD. In the second step, we calculate the Simple Moving Average (SMA) of the PRICE_FIELD based upon the MA_PERIOD. In the third step, we calculate the Relative Strength Index (RSI) of the Simple Moving Average (SMA) calculated in the second step. Finally, the Step RSI is calculated from the previous step. Here, we calculate the Relative Strength Index (RSI) in steps of STEP_SIZE.
The BLUE line is the Relative Strength index calculated in the third step. The YELLOW line is the Simple Moving Average of the Relative Strength Index (RSI) calculated in the third step, and calibrated to increase or decrease in STEP_SIZE.
BUY - Enter BUY trade when BLUE line crosses above YELLOW line. Use other trending indicators in addition to this indicator for reference. Do not enter BUY trade if candle has gap-up opening. Place Stop-loss below nearest Swing Low.
SELL - Enter SELL trade when BLUE line crosses below YELLOW line. Use other trending indicators in addition to this indicator for reference. Do not enter SELL trade if candle has gap-down opening. Place Stop-loss above nearest Swing High.