Rank: Member
Groups: Registered, Registered Users
Joined: 6/23/2007(UTC)
Posts: 17
Location: Australia
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Hello
I have come across the following exploration which i would like clarified.
LLV(RSI(7),10) < 31
My understanding is:
LLV = lowest low volume
RSI = resistance strength indicator
(7) = period of 7 days
10 = period of 10 days
<31 = on the RSI scale, when the stock is in this area on the graph - ie: between 0 - 100, or i have read is also known as an oversold area.
Where i am confused is, that I feel there are two periods in the formuls, ie: 7 and 10 - does that mean that it looks for stocks over a 7 day period as well as a 10 day period.
Your help in simple terms would be appreciated in clarifying this. I am still at the beginner stage.
Regards, Mouse
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Rank: Advanced Member
Groups: Registered, Registered Users, Unverified Users
Joined: 9/13/2004(UTC)
Posts: 673
Location: Salt Lake City, UT
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The formula is looking for the Lowest Low Value of a 7 period Relative Strength Index over the last 10 days to be less than 31.
The 7 defines the number of periods in the RSI. The 10 is the number of periods to "look back" for the lowest low value (LLV) of the RSI. The LLV is wrapped around the RSI.
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