Waddah Attar RSI Levels [Loxx]

Waddah Attar RSI levels [Loxx] is an indicator created Ahmad Waddah Attar that draws a daily RSI over onto the current lower timeframe chart.

Wilders' RSI:
The Relative Strength Index ( RSI ) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially RSI , when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements.

Rapid RSI:
Rapid RSI Indicator, from Ian Copsey's article in the October 2006 issue of Stocks & Commodities magazine. RapidRSI resembles Wilder's RSI , but uses a SMA instead of a WilderMA for internal smoothing of price change accumulators.

Details
-Used for intraday trading, restricted to timeframes 1 hour and below
-Best Time Frames 15, 30, 60 minutes