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Webby's RSI (Really Simple Indicator)
Webby's RSI (Really Simple Indicator) in short MW-RSI, is simply the percentage of the low vs. the 21-day moving average.
This indicator is used to gauge the health of an uptrend generally applied on major indexes like DOW, NASDAQ, SPX. As it's a bull market indicator, only positive values are shown. So if the Low goes below the 21-Day Moving Average, no value will be displayed.
As bull market starts, it shows very high levels on Webby’s RSI. This is a sign of power. Eventually, bull markets level out to a more sustainable pace range of 0.5% to 2% (represented with two green lines on the bottom), which is considered as normal and positive. The yellow line is 4.0% above the 21-day and the red line is 6.0% above.
This indicator is used to gauge the health of an uptrend generally applied on major indexes like DOW, NASDAQ, SPX. As it's a bull market indicator, only positive values are shown. So if the Low goes below the 21-Day Moving Average, no value will be displayed.
As bull market starts, it shows very high levels on Webby’s RSI. This is a sign of power. Eventually, bull markets level out to a more sustainable pace range of 0.5% to 2% (represented with two green lines on the bottom), which is considered as normal and positive. The yellow line is 4.0% above the 21-day and the red line is 6.0% above.
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