An Introduction to ConnorsRSI 2nd Edition (Connors Research Trading Strategy Series)
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An Introduction to ConnorsRSI 2nd Edition (Connors Research Trading Strategy Series)
A More Powerful Indicator for Swing Traders...
Connors Research has been developing, testing, and publishing quantified trading strategies since the mid-1990s. During that time, we have had the opportunity to evaluate a great number of different technical indicators and to assess their effectiveness in predicting future price action.
The 2-period RSI is used by thousands of traders around the world. In fact, it's considered by many to be the single best indicator for Swing Traders. Over the past decade professional equity, ETF, and options traders have learned to rely upon the 2-period RSI as their main indicator before they make a trade.
Now we've taken the next step and created an indicator of our own. We call it: ConnorsRSI.
ConnorsRSI is a composite indicator consisting of three components. Two of the three components utilize the Relative Strength Index (RSI) calculations developed by Welles Wilder in the 1970's, and the third component ranks the most recent price change on a scale of 0 to 100.
Taken together, these three factors form a momentum oscillator, i.e. an indicator that fluctuates between 0 and 100 to indicate the level to which a security is overbought (high values) or oversold (low values).
ConnorsRSI is being offered with full disclosure of the formula & test results. We have published an introductory guidebook that includes:
--Background Formulas for Conventional RSI --The entire formula for ConnorsRSI --A Fully-Disclosed Pullback Strategy that Uses ConnorsRSI --Simulated Historical Test Results (Updated through February 2014)
This guidebook describes the ConnorsRSI indicator itself and also provides a well-defined, quantified pullback trading strategy that utilizes this new indicator.
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In all modesty, we believe that ConnorsRSI will become a new industry standard that will be used by thousands of traders worldwide.
We hope you will find ConnorsRSI to be helpful in your ongoing efforts to improve your own trading results.
