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For those who don't know what the relative strength index is. The RSI first was developed by J. Welles Wilder; it compares a stock's recent gains to its recent losses and output a number between 0 and 100, which make him a good candidate for a ranking system.
Generally it is considered bullish if the RSI rises above 30 and bearish if the RSI falls below 70.
The system was test on some US Symbols and with all the ranking calculation methods.
Results show that the less the ranking system value is the higher the system performance, which means that we should be bullish when the ranking system is within the first bucket (and also the two or three next buckets, but the first one is the most bullish) and bearish when the ranking system is within the last buckets.
This ranking system could be very helpful in designing a trading system.
You can use this item as a short ranking
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.