Amplified RSI is a precursor to HSI that was developed with the purpose of optimizing RSI's oscillation to the most suitable frequency for trading with the patterns.
While more prone to extended divergences than HSI, Amplified RSI nevertheless has remained on our charts for its unique ability to signal frequent complex structures along with the accompanying market expectations that this provides us. It also has the advantage of not requiring as much historical chart data to be loaded on the chart in order to display the indicator (only thirteen bars as opposed to approximately five hundred bars of data in HSI's case.)
To load the Amplified RSI indicator into a chart:
•Select the Analysis option off the main menu, then select the Studies option from the drop-down menu.
•Click on the Add Custom Study button in the Chart Studies dialog.
•Select AmpRSI from the list of available studies under the Harmonic Pattern Collection section in the Add Study dialog.
•Click on the Add button and the selected study will be added into the Studies to Graph section of the Chart Studies dialog.
•Click on the Settings button if you wish to adjust the settings, otherwise click on the Ok button and the indicator will be added to your chart.
•If you do select the Settings option, click on the Subgraphs tab in the Study Settings dialog to access the cosmetic parameters. The Length input is available on the Settings and Inputs tab.
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