Connors RSI (CRSI)
Connors RSI averages three short-term measures: a 3-bar RSI of price, a 2-bar RSI of the up/down "streak" (how many bars in a row price closed higher or lower) and the percentile rank of today's 1-bar return over the last 100 bars. The result is a fast, bounded (0-100) gauge of short-term over-extension built for mean-reversion timing.
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How to use it
Below 10 = short-term oversold, above 90 = overbought. Best used for pullback entries in the direction of a longer trend (e.g. buy CRSI < 10 while price is above its 200-bar average). Settings (3, 2, 100) and levels (10 / 90) are Connors Research's published defaults. Concept: L. Connors, C. Alvarez, M. Radtke, "An Introduction to ConnorsRSI" (Connors Research, 2012). See StockCharts ChartSchool "ConnorsRSI".
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Back-tests and forward tests are simulations; past results do not predict future ones. Nothing here is financial advice. Trading carries a high risk of loss.