Setting Support and resistance levels using the CSC-HARSI 2022Watch the video to get FULL details and listen to some commentary. Always feel free to ask questions below. I love talking with you guys.
Here is how we do it:
Set your RSI and VWAP as its Moving average in the CSC-HARSI
The lower the RSI setting, the more S/R levels you'll find.
So don't set your RSI to a low setting on a large timeframe chart. For example: Dont set your RSI to 9 on a 1hr chart.
Commonly I trade off of breaks of the 50 period EMA on my chart so i set my RSI to 50 and my chart to 1hr.
1. Setup your RSI to a 50 period length with source as CLOSE
2. RSI MA Settings: Set this to the VWAP (NOTE you can not change the RSI MA length if you set it for VWAP as it is now LOCKED to the RSI length)
3. Look for places on your CSC HARSI where the RSI and VWAP close at exactly the same level.
4. The close must results in a crossover and NOT a bounce.
5. If the Heiken Ashi close was a bullish candle, you mark a horizontal line on your chart ABOVE the candle
5a. If the Heiken Ashi close was a bearish candle, you mark a horizontal line on your chart BELOW the candle.
