Has anybody here done much work with ERSI (that stands for the Exponential Moving Average of RSI)? Seems to make sense, in that it eliminates some of the noise in RSI. What is a good EMA of the RSI? I've tinkered with the following, but I've only just begun:
ERSI(14,7)
ERSI(14,5)
The 7 and 5 represent the EMA. The 14 is the RSI. An example:
Show stocks where ERSI(14,5) crossed above 45
and draw RSI(14)
The StockFetcher definition of ERSI, and another example, are shown below.
Description The ersi uses the values from an exponential moving average (EMA) as input to the RSI computation. On StockFetcher, the first parameter of the ersi represents the period used for the RSI computation and the second parameter is the period of the EMA used as input. By using EMA values as input, the ersi will be less volatile than the standard RSI.
I know that RSI(14) is the default setting for a lot of investors. But I also read that RSI(9) and RSI(25) are popular alternative choices. Thus, I experimented with the following:
ERSI(9,5). RSI(9) by itself would generate a lot of whipsaws, but with the 5-day smoothing, it certainly eliminates many of those whipsaws. I'm going to keep experimenting with other settings, and I hope others do the same and report their findings here. Let's help each other.
Gl gene
I posted a filter a few days ago in the Public Filters topic,using ERSI(3,7), RSI (2)and COG. Other than it, I haven't seen other filters using ERSI. I used ERSI (3,7) because it seemed to give good results, but I haven't spent a lot of time with other numbers.
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