The Studying of Elliott Wave using RSI indicator to indicate the Elliott Wave status

  • ณัชพล อนันต์ถาวร
  • สมพร ปั่นโภชา
Keywords: Elliott Wave Theory, Relative Strength Index, SET50


“The Studying of the Elliott Wave and Testing the efficiency of the RSI indicator to help indicate the Elliott Wave status” is the objective of the study. By testing the efficiency, this study was tested by a comparison of the return on investment on stocks in the SET50 signaling from technical analysis tools and the return from buy and hold investment using the closing price of 50 stocks in SET50 index of Thailand(SET50 Index) from 1 January 2015 to 31 December 2019.

From the result of this study, we found that the investing with Elliot Wave Theory using RSI Indicator to identify to Elliot Wave status give the 5-years average return of 11.97% with 57.90% win rates and 22.90% maximum lose rates comparing with the buy and hold investment strategies which give 66.04% return but could give 57.95% lose rates


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