Hi Strenlich,
you're welcome
Can you tell
me what the "storsi" notation for the bottom two indicators are? They
look similar to Williams %R.
the STORSI stands for stochastic rsi. It's simply the RSI (relative strength index) combined with a stochastic calculation. STORSI measures where the current value of the RSI is relative to its high low range (as defined by the parameters... e.g. 13,8,5 or 8,5,3, etc.)
In a general sense, it is similar to williams %r, although they are two completely different indicators. In fact, williams %r is just one component of the stochastics indicator (%d or %k, I forget which) plotted inversely... some would say it's a ripoff of something that's mediocre (namely stochastics). Of course, different strokes for different folks. <g>
as for interpreting the storsi, that is pretty straightforward... it is an oscillator ranging from 0 (lowest) to 100 (highest). The only thing to consider beyond that is the interrelationship of different storsi's... meaning, it's worthwhile to watch how two or more different storsi interact with each other. Just look at a few of my charts with more than one storsi and you'll see what I mean.
The fork is also something worth looking at, imo. The fork is a great (channeling) tool, that can show both support and resistance -into the future- on all timeframes. The tines of the fork act as magnets, both attracting and repelling prices. sometimes price will hit a tine and react, other times it will just break right through a tine, and accelerate its trend, and still yet, sometimes price will just follow along a tine. The middle tine (a.k.a. median line) could be thought of as a main trendline -of sorts- with the upper and lower tines of the fork representing the upper and lower boundaries of the channel respectively.
FYI, here are some links which explain the basics of the fork, if you do not already know it.
equis.com
traders.com
aspenres.com
moreover, let me know if you're unclear on other things like RSI, etc.... there are plenty of links for most of that stuff on the net. Talk to you later, take care
Regards,
Frank |
