Registered User
Joined: 12/2/2006
Posts: 7
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What do you recommend for the correct settings for a normal "fast stochastic?" Also, what's the difference between simple and exponential settings for the RSI? Please advise. Thanks.
Colleen Nibbe
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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The trainers can't give setting, interpretation or investment advice. TeleChart uses a Full Stochastic. The settings for Stochastics available in TeleChart include the Period, SK Period, SD Period and Average Type. Full Stochastics can be used to reproduce both Fast and Slow Stochastics.
Full Stochastic (x,1,y) = Fast Stochastic (x,y)
Full Stochastic (x,y,y) = Slow Stochastic (x,y)
There are other interpretations as well. You may wish to review the following:
Slow Stochastics
Understanding Stochastics
The RSI in TeleChart can be calculated with or without internal Wilder's Smoothing. The Simple or Exponential setting does not affect this internal smoothing but refers to the optional Moving Average (the Avg Period) that can be applied after the RSI is calculated. When Wilder's Smoothing is used, this Avg Period is normally set to 1 (when the Avg Period is 1, the Average Type doesn't matter).
-Bruce
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