RSI Streak Indicator

Creator: J. Welles Wilder

Period: 3

Average Period: 2

There are two lines plotted below the chart in the RSI Streak indicator

1 – Green line represents RSI Streak indicator

2 – Red line represents the Average of RSI streak indicator

The relative strength index (RSI) is one of the most popular momentum indicators.

The rising RSI streak indicator is considered bullish and the falling RSI streak indicator is considered bearish.

The RSI Streak above 70 is considered to be an overbought condition, while the RSI Streak below 30 is considered to be an oversold condition.

The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.

This indicator is also available in the System Builder of RZone & TradePoint for all charting methods. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.