RSI Bamm is an enhanced version of Relative Strength Index that incorporates the exact specifications for complex structure identification in RSI and automatically identifies these scenarios by highlighting the overbought or oversold to indicate their presence. As defined in The Harmonic Trader: Volume II and Volume III, RSI Bamm is identified when a complex structure has occurred above 70 or below 30, and RSI returns to the 50 level.
RSI Bamm identifies these special-opportunity scenarios by highlighting the respective overbought or oversold boundary until it has been retested by RSI.
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Note: The RSI Bamm indicator can also be used in a watchlist. |
To load the RSI Bamm indicator into a chart:
•Right-click in your chart and select the Insert Study option from the pop-up menu.
Chart Menu
•The Insert Study dialog will be displayed. Click on the Add-on Studies tab.
Insert Study dialog
•Then scroll down until you find the Harmonic Pattern Collection folder. Double-click on the folder to open it. Then click on the HT_RSI_Bamm.efs indicator to select it, click on the Apply button, and then click on the Close button to close the dialog.The indicator will now be loaded in your chart.
•Once the indicator has been loaded into a chart, you can access the parameters dialog by by right-clicking in the indicator pane of the chart and selecting the Edit Chart option from the pop-up menu. The parameters dialog (called Edit Chart) will be displayed:
•Make your edits/changes and then click on the Close button at the bottom-right of the dialog to close the parameters dialog and return to the chart. See the Settings section for a complete description of all of the available parameters.
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