Relative Spread Strength (RSS)
The Relative Spread Strength Indicator was developed in 2006. It uses the difference of two SMAs to calculates the value of the RSI.
Values above 70 and below 30 mean that the price has the potential of turning. Trades should not be entered into at these points. When it comes to extreme values, you might want to check smaller timeframes for clearer trading signals.
In the long-term analysis, the following methodology should be applied:
- below 30: long entry
- above 70: for more than 5 days: exit long
- above 95: short entry
- below 30: for more than 5 days: exit short
RSS(int eMA1, int eMA2, int length)
RSS(IDataSeries inSeries, int eMA1, int eMA2, int length)
RSS(int eMA1, int eMA2, int length)[int barsAgo]
RSS(IDataSeries inSeries, int eMA1, int eMA2, int length)[int barsAgo]
double
When using this method with an index (e.g. RSS(10,40,5)[int barsAgo] ), the value of the indicator will be issued for the referenced bar.
inSeries Input data series for the indicator
length Number of bars used in the calculation
eMA1 Number of periods for the first EMA
eMA2 Number of periods for the second EMA
Relative Spread Strength (RSS)
//Output for the RSS
Print("The current RSS is " + RSS (10, 40, 5)[0]);