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I modified a couple of the Esignal indicators for my own evil purposes:
I added a Moving Average to the StochRSI routine, and use it as a signal when StochRSI crosses the Moving Average rather than the centerline....one can usually get in one bar earlier and whipsaws are no worse than using the centerline only.
I also applied the Regression Oscillator code to a RSI data, and then overlayed that onto a dual-RSI .efs (just an indicator that calls two different RSI periods and plots them on the same pane).
Again, when the dual RSI periods converge and then cross over the regression line, it gives a good signal.
As with all indicators there are problems with whipsaws, and so I use several indicators and take a trade only when all four indicators give me an entry signal. I also have trouble believing any signals that come too soon after a morning gap up/down.
Here is a screen shot with the above indicators and a few others with vertical red lines showing how all of them gave first a long signal then a short signal in unison. Ah, if only it were always so clear.
Below that picture I've uploaded the chart (and I assume the indicators themselves) for anyone that wants to play around with this stuff.
I also uploaded another picture with some more examples.
I added a Moving Average to the StochRSI routine, and use it as a signal when StochRSI crosses the Moving Average rather than the centerline....one can usually get in one bar earlier and whipsaws are no worse than using the centerline only.
I also applied the Regression Oscillator code to a RSI data, and then overlayed that onto a dual-RSI .efs (just an indicator that calls two different RSI periods and plots them on the same pane).
Again, when the dual RSI periods converge and then cross over the regression line, it gives a good signal.
As with all indicators there are problems with whipsaws, and so I use several indicators and take a trade only when all four indicators give me an entry signal. I also have trouble believing any signals that come too soon after a morning gap up/down.
Here is a screen shot with the above indicators and a few others with vertical red lines showing how all of them gave first a long signal then a short signal in unison. Ah, if only it were always so clear.
Below that picture I've uploaded the chart (and I assume the indicators themselves) for anyone that wants to play around with this stuff.
I also uploaded another picture with some more examples.