RSI Bamm is an enhanced version of Relative Strength Index that incorporates the exact specifications for complex structure identification in RSI and automatically identifies these scenarios by highlighting the overbought or oversold to indicate their presence. As defined in The Harmonic Trader: Volume II and Volume III, RSI Bamm is identified when a complex structure has occurred above 70 or below 30, and RSI returns to the 50 level.
RSI Bamm identifies these special-opportunity scenarios by highlighting the respective overbought or oversold boundary until it has been retested by RSI.
To load the RSI Bamm 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 RSI Bamm 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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