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Question about a setting;

Discuss and share different settings for indicators.
spiftheninja
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Question about a setting;

Postby spiftheninja » Wed Oct 15, 2014 4:30 am

Hi there, been messing around with the bot quite a bit. Seems awesome, still trying to get the hang of it.

One thing I can't find the answer to/figure out on my own is, WHAT EXACTLY does "LENGTH" mean for the RSI indicator? Are the update speed and the LENGTH somehow multiplied to calculate the RSI or how is it used? In one of the tutorial videos he says just to leave it at 30, but why? What exactly does it do?

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stephan
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Re: Question about a setting;

Postby stephan » Wed Oct 15, 2014 2:04 pm

The length represents the amount of price candles that is used to calculate the RSI value.

For example:
If you use the RSI with length 30 then it means the RSI outcome will be calculated using last 30 price candles.

By setting it to length 60 then the last 60 price candles will be used to determine the RSI outcome. This will make the RSI slower to respond, but more accurate.

The price candles are controlled by the Interval update speed. So if you set this one for example to 5 minutes then there will be price candles generated of 5 minutes. This means if you use an length of 30 than you will be using a time reference frame of 30 * 5minutes = 150minutes = 2,5 hours.

I hope this explains the role of the length.
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shipwreck
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Re: Question about a setting;

Postby shipwreck » Tue Jul 14, 2015 4:43 pm

What I'm still confused about is, on the StochRSI indicator, there are two settings: RSI Length and Length.

If I have the Interval set in the main Settings dialog, then what is the Length referring to in Paramaters?

If my Interval is 10 minutes and my RSI Length is 30, I'm asking for a measurement of 30 ten minute candles, then what does the Length setting do?

Image

Edit: Does it refer to Stochastic Length? If so, should be named as such :)

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stephan
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Re: Question about a setting;

Postby stephan » Tue Jul 14, 2015 5:30 pm

Yes exactly, in this case it refers to the Stochastic its length. :)

We shaal team-review the names once more, this is indeed no very clear to everybody. Good notice. ;)
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