RSI Dot Party - All Lengths From 1 To 120The RSI Dot Party indicator displays all RSI lengths from 1 to 120 as different colored dots on the chart.
🔶 Purpose
Show the reversal point of price action to time entries and exits.
🔶 USAGE
When a dot displays it is a indication of the reversal of the price/trend. The larger the dot the more likely it is to reverse.
The Default settings generates dots for extreme cases where the RSI is over = 90 or under = 10 for every RSI length in the range of 1-120.
Example if the RSI of length 1 or 2 or 3 or 4 or ... or 15 or 16 or 17 or ... or 80 or 81 or 82 or ... if any of does RSI crosses a boundary a dot is shown.
A boundary is the over/under the RSI oscillates in.
Customize the settings until the dots match up with the high and lows of past price action.
🔶 SETTINGS
🔹 Source
Source 1: Is the First Source RSI is calculated from
Source 2: Is the Second Source RSI is calculated from
🔹 Meta Settings
Hours back to draw: To speed up the script calculate it only draws a set number of hours back, default is 300 hours back in time to draw then it cuts off.
Show Dots: Show or disable dots
Show Bar Color: Color the bars for each RSI incident
Filter Cross: Filters and only shows dots when the RSI crosses above or bellow a boundary. If not all candles above or bellow the boundaries will display a dot.
Dots Location Absolute: Instead of showing the dots above or bellow the candle, the dots will show up on the top and bottom of the window.
🔹 7 RSI Groups
There are a total of 7 RSI colors.
Range Very Tiny: Default Color Green
Range Tiny: Default Color Purple
Range Small: Default Color Yellow
Range Normal: Default Color Red
Range Large: Default Color Blue
Range Huge: Default Color Dark Purple
Range Very Huge: Default Color White
🔹 RSI Group Settings
Hi/Low Color: Change the Color of that group.
Start/End: The Start and End range of this RSI color. Example if start = 5 and end = 10 the RSI of 5,6,7,8,9,10 will be displayed on the chart for that color, if any of does RSI goes above or bellow the boundary a dot is displayed on that candle.
Delay: The RSI needs to be above or bellow a boundary for x number of candles before displaying a dot. For example if delay = 2 and the RSI is over = 70 for 2 candles then it will display a dot.
Under/Over: Boundaries that indicate when to draw a dot, if over = 70 and RSI crosses above 70 a dot is displayed.
🔹 Show
Section that allows you to disable RSI grounds you dont want to see, this also removes them from the alert signal generated.
Show Low: Show or disable Low RSI dots
Show High: Show or disable High RSI dots
🔶 ALERTS
Alert for all New RSIs Dots Created in real time
The alert generated depends on what groups are showing or not, if the green group is disabled for example the alert will not be generated.
🔶 Warning
When a dot shows up it can continue moving. For example if a purple dot shows itself above a 15 minute candle, if that candle/price continue to extend up the dot will move up with it.
Dots can also disappear occasionally if the RSI moves in and out of a boundary within that candles life span.
🔶 Community
I hope you guys find this useful, if you have any questions or feature requests leave me a comment! Take care :D
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RSI-CCI Fusion StrategyRSI-CCI Fusion Strategy: Harnessing the Power of RSI and CCI
The "RSI-CCI Fusion Strategy" is a powerful trading approach that combines the strengths of the Relative Strength Index (RSI) and the Commodity Channel Index (CCI) to provide enhanced trading insights. This strategy is based on the popular "RSI & CCI Fusion + Alerts" indicator, which utilizes the RSI and CCI indicators from TradingView .
1. Overview of RSI and CCI:
The Relative Strength Index (RSI) is a widely used momentum oscillator that measures the speed and change of price movements. It helps traders identify overbought and oversold conditions in the market. On the other hand, the Commodity Channel Index (CCI) is a versatile indicator that identifies cyclical trends and provides insights into overbought and oversold levels.
2. The RSI-CCI Fusion Strategy:
The RSI-CCI Fusion Strategy harnesses the combined power of the RSI and CCI indicators to generate robust trading signals. By blending the RSI and CCI, this strategy captures both momentum and cyclical trend dynamics, offering a more comprehensive view of the market.
3. Utilizing the RSI-CCI Fusion Indicator + Alerts:
The "RSI & CCI Fusion + Alerts" indicator serves as the backbone of the RSI-CCI Fusion Strategy. It integrates the RSI and CCI indicators from TradingView, providing traders with a clear and actionable trading signal.
4. How it Works:
- The indicator calculates the RSI and CCI values, standardizes them using z-score, and combines them with a weighted fusion approach.
- The resulting RSI-CCI Fusion indicator is plotted on the chart, accompanied by dynamic upper and lower bands, which help identify potential overbought and oversold conditions.
- Traders can customize alerts based on their preferred thresholds and timeframes, enabling them to receive timely notifications for potential buy and sell signals.
5. Implementing the RSI-CCI Fusion Strategy:
Traders following the RSI-CCI Fusion Strategy can utilize the buy and sell signals generated by the RSI-CCI Fusion indicator. When the indicator crosses below the upper band, it may signal a potential selling opportunity. Conversely, when it crosses above the lower band, it may indicate a potential buying opportunity. Traders can also consider additional factors and technical analysis tools to validate the signals before making trading decisions.
Conclusion: The RSI-CCI Fusion Strategy provides traders with a robust approach to analyze the market and make well-informed trading decisions. By incorporating the RSI and CCI indicators through the "RSI & CCI Fusion + Alerts" indicator, traders can take advantage of the combined strengths of these indicators. However, it is important to remember that no strategy guarantees success, and traders should always practice risk management and conduct thorough analysis before executing trades using this strategy.
Disclaimer: Trading involves risks, and it is important to conduct your own research and consult with a financial advisor before making any investment decisions.
Note: The RSI-CCI Fusion Strategy serves as a general guide, and individual traders may have different preferences and trading styles.
RSI-CCI Fusion + AlertsThe "RSI-CCI Fusion" indicator combines the Relative Strength Index (RSI) and Commodity Channel Index (CCI) from TradingView.
RSI-CCI Fusion: Unlocking Synergies in Technical Analysis
Technical analysis plays a crucial role in understanding market dynamics and making informed trading decisions. I often rely on a combination of indicators to gain insights into price movements and identify potential trade opportunities. In the lines below, I will explore the "RSI-CCI Fusion" indicator, a powerful tool that combines the strengths of the Relative Strength Index (RSI) and the Commodity Channel Index (CCI) to provide enhanced trading insights.
1. Understanding the RSI and CCI Indicators
Before delving into the fusion of these indicators, let's briefly review their individual characteristics. The RSI is a widely used momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100, with readings above 70 indicating overbought conditions and readings below 30 indicating oversold conditions.
On the other hand, the CCI is a versatile indicator designed to identify cyclical trends in prices. It measures the distance between the price and its statistical average, thereby providing valuable insights into overbought and oversold levels.
2. The Concept of RSI-CCI Fusion
The RSI-CCI Fusion indicator is born out of my desire to harness the collective power of the RSI and CCI. By combining these indicators, I can benefit from a more comprehensive trading signal that captures both momentum and cyclical trend dynamics.
The fusion process involves assigning weights to the RSI and CCI, creating a blended indicator that reflects their relative importance. The weighted combination ensures that both indicators contribute meaningfully to the final result.
To maintain consistency, the RSI and CCI values are standardized using the z-score technique. This normalization process brings the values to a common scale, making them directly comparable. Rescaling is then applied to bring the combined indicator back to its original scale, facilitating intuitive interpretation.
3. Interpreting the RSI-CCI Fusion Indicator
When plotting the RSI-CCI Fusion indicator on a chart, I gain valuable insights into market dynamics and potential trading opportunities. The indicator's plot typically includes dynamic upper and lower bands, which are calculated based on the indicator's standard deviation. These bands provide boundaries for evaluating overbought and oversold conditions.
When the RSI-CCI Fusion indicator crosses above the lower band, it suggests oversold conditions and potential buying opportunities. Conversely, when the indicator crosses below the upper band, it indicates overbought conditions and potential selling opportunities. I also pay attention to the baseline, which represents the neutral level and may signal potential trend reversals.
4. Utilizing Alerts for Trading Decisions
The RSI-CCI Fusion indicator can be further enhanced by incorporating alerts. These alerts notify me when the indicator generates buy or sell signals, enabling me to take prompt action. I can customize the alerts based on my preferred thresholds and timeframes.
However, it is crucial to remember that the RSI-CCI Fusion indicator should not be relied upon in isolation. To increase the robustness of my trading decisions, it is recommended to combine the indicator with other analysis techniques such as trend lines, support and resistance levels, or additional indicators. This convergence of analysis methodologies enhances the overall accuracy of my trade signals.
Conclusion: The RSI-CCI Fusion indicator represents a compelling approach to technical analysis by synergizing the strengths of the RSI and CCI. By combining momentum and cyclical trend dynamics, I gain a more comprehensive view of market conditions. The fusion of these indicators, accompanied by timely alerts, equips me with valuable insights and facilitates well-informed trading decisions.
As with any technical analysis tool, it is essential for me to backtest the RSI-CCI Fusion indicator to evaluate its performance across different market conditions and timeframes. Additionally, applying proper risk management strategies is crucial to ensure consistent and disciplined trading practices.
RSI band with Signal alert//th/en
//th
สวัสดีครับท่านสมาชิก
ก่อนอื่นต้องขอเกริ่นก่อนเลยว่า Indicator ตัวนี้ถูกสร้างขึ้นมาบนพื้นฐานของ RSI จริง เพียงแต่ใช้ค่า EMA27 ในการสร้าง เนื่องจากผมยังไม่สามารถเขียน RSI band ที่โยงกับราคาได้ในส่วนนี้เองได้
แต่ทั้งนี้ขอให้ท่านใจเย็น ๆ และฟังผมสักหน่อย เนื่องจากก่อนหน้านี้ผมได้สังเกตเห็นว่า EMA27 นั้นมีค่าเท่ากับ RSI14 ที่ค่า 50 พอดี ดังนั้นผมจึงเลือกที่จะสร้างมันขึ้นมาด้วย EMA27 เพราะง่ายต่อการเขียน
วิธีการใช้งานมีดังต่อไปนี้
Indicator ตัวนี้ใช้งานเหมือน RSI14 วิธีการอ่านคือให้นับเส้น EMA27 เป็นค่า 50 ของ RSI14 ดังนั้นให้เราพิจารณาการซื้อขายดังต่อไปนี้ (โดยหลังจากนี้ผมจะเรียก EMA27 ที่สร้างขึ้นว่า RSI band)
พิจารณาเข้าซื้อ : เมื่อราคาทะลุ RSI band ขึ้นไปและย่อตัวทำ Higher Low เหนือเส้น RSI band
พิจารณาขายออก : เมื่อราคาทะลุ RSI band ลงมาและรีบาวน์ทำ Lower High ใต้เส้น RSI band
# ทั้งนี้ผมได้ทำสีแท่งเทียนไว้เพื่อให้ง่ายต่อการสังเกต โดยการนำไปใช้อาจนำสีของเส้นขอบแท่งเทียนออก แล้วในส่วนของไส้แท่งเทียนให้ใช้สีที่ไม่เจาะจงราคาบวกลบอย่างสี #434651
โดยเราสามารถดู Divergence โดยการเทียบความต่างระหว่างราคาและ RSI band ได้ดังนี้
ในแนวโน้มขาลง : ให้เปรียบเทียบความต่างระหว่างราคากับ RSI band ของ Lower Low ปัจจุบันกับ Low ก่อนหน้า โดยถ้าความต่างของ Low ลดลงเรื่อย ๆ จนราคาเข้าใกล้เส้น RSI band ให้พิจารณาเข้าซื้อ
ในแนวโน้มขาขึ้น : ให้เปรียบเทียบความต่างระหว่างราคากับ RSI band ของ Higher High ปัจจุบันกับ High ก่อนหน้า โดยถ้าความต่างของ High ดลงเรื่อย ๆ จนราคาเข้าใกล้เส้น RSI band ให้พิจารณาขายออก
ทั้งนี้ผมได้สร้าง Signal alert ไว้เพื่อให้ง่ายต่อการสังเกต โดยสร้างมาจากเงื่อนไขดังนี้ (ห้ามทำการซื้อขายตาม Signal alert เด็ดขาด เพราะเค้าแค่บอกจุดตามเงื่อนไขที่ตั้งไว้ บางทีอาจมีสัญญาณซื้อแล้วให้ซื้อต่อโดยไม่มีสัญญาณขายเลยก็ได้)
Buy : เมื่อ RSI14 ตัดขึ้นที่ค่า 50 พร้อมกับ RSI14 ตัดขึ้น Signal ที่ผมตั้งไว้ (ผมใช้ EMA7 ของ RSI14)
Prepare to Sell : เมื่อ RSI14 ตัดลง Signal ในขณะที่ RSI14 นั้น มีค่ามากกว่า 70
Sell/Short Top : เมื่อ RSI14 ตัดลงที่ค่า 70 พร้อมกับ RSI14 ตัดลง Signal (จะมีขึ้นแสดงว่า Peak ในกราฟ)
Buy : เมื่อ RSI14 ตัดลงที่ค่า 50 พร้อมกับ RSI14 ตัดลง Signal
Prepare to Buy : เมื่อ RSI14 ตัดขึ้น Signal ในขณะที่ RSI14 นั้น มีค่าน้อยกว่า 30
TP Short/Buy Bottom : เมื่อ RSI14 ตัดขึ้นที่ค่า 30 พร้อมกับ RSI14 ตัดขึ้น Signal (จะมีขึ้นแสดงว่า Deep ในกราฟ)
# สาเหตุที่ใส่ข้อความใน Signal alert เพียงแค่ตอน Sell/Short Top และ TP Short/Buy Bottom เพื่อลดโอกาสเกิดการแพนิคที่เกิดจากการสังเกตได้ โดยในสัญญาณตัวอื่นจะมีแค่เครื่องหมาย * เพียงอย่างเดียว
ขอให้โชคดีครับ
Firstssk
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
//en (Google Translate)
Hello, Trader
First of all, I have to say that this indicator is built on the basis of a real RSI, just using the EMA27 value to create it, since I still can't write an RSI band that is tied to the price in this section.
But please be patient and listen to me a bit. Since I previously noticed that EMA27 is exactly equal to RSI14 at 50, so I chose to build it with EMA27 because it's easier to write.
Here's how to use it:
This indicator works like RSI14. The reading method is to count the EMA27 line as the 50 value of RSI14, so let's consider the following trading. (After this I will call the created EMA27 RSI band)
Consider buying : When the price breaks the RSI band up and makes a Higher low above the RSI band.
Consider selling : When the price breaks the RSI band down and rebounds to make a Lower high below the RSI band.
# However, I have colored the candlesticks to make them easier to spot. By applying it may remove the color of the candlestick border. Then for the wick part, use a color that does not specify the price plus and minus color #434651
We can see the divergence by comparing the difference between the price and the RSI band as follows.
In a downtrend : Compare the difference between the price and the RSI band of the current Lower Low and the previous Low. If the divergence of the Low continues to decrease until the price approaches the RSI band, consider buying.
In an uptrend : Compare the price difference between the RSI band of the current Higher High and the previous high. If the divergence of the High continues to decrease until the price approaches the RSI band, consider selling.
I have created a Signal alert for easy observation. It was created from the following conditions: (Do not trade according to Signal alert strictly because they just tell the point according to the conditions set There may be a buy signal and then buy again without a sell signal.)
Buy : When RSI14 crosses above 50 with RSI14 crosses up the signal I set (I use EMA7 of RSI14).
Prepare to Sell : When RSI14 crosses signal while RSI14 is greater than 70.
Sell/Short Top : When RSI14 crosses down at 70 with RSI14 crosses down Signal (it will show "Peak" on the chart)
Buy : When RSI14 crosses down to 50 with RSI14 crosses down signal.
Prepare to Buy : When RSI14 crosses signal while RSI14 is less than 30.
TP Short/Buy Bottom : When RSI14 crosses above 30 with RSI14 crosses up signal (it will show "Deep" in the chart).
# The reason why I put the message in Signal alert only at Sell/Short Top and TP Short/Buy Bottom to reduce the chance of panic occurring from observation. In other signals, there will only be a * sign.
Good luck.
Firstssk
RSI and Smoothed RSI Bull Div Strategy [BigBitsIO]This strategy focuses on finding a low RSI value, then targeting a low Smoothed RSI value while the price is below the low RSI in the lookback period to trigger a buy signal.
Features Take Profit, Stop Loss, and Plot Target inputs. As well as many inputs to manage how the RSI and Smoothed RSI are configured within the strategy.
Explanation of all the inputs
Take Profit %: % change in price from position entry where strategy takes profit
Stop Loss %: % change in price from position entry where strategy stops losses
RSI Lookback Period: # of candles used to calculate RSI
Buy Below Lowest Low In RSI Divergence Lookback Target %: % change in price from lowest RSI candle in divergence lookback if set
Source of Buy Below Target Price: Source of price (close, open, high, low, etc..) used to calculated buy below %
Smoothed RSI Lookback Period: # of candles used to calculate RSI
RSI Currently Below: Value the current RSI must be below to trigger a buy
RSI Divergence Lookback Period: # of candles used to lookback for lowest RSI in the divergence lookback period
RSI Lowest In Divergence Lookback Currently Below: Require the lowest RSI in the divergence lookback to be below this value
RSI Sell Above: If take profit or stop loss is not hit, the position will sell when RSI rises above this value
Minimum SRSI Downtrend Length: Require that the downtrend length of the SRSI be this value or higher to trigger a buy
Smoothed RSI Currently Below: Value the current SRSI must be below to trigger a buy
RSI Multi Time FrameWhat it is
A clean, two-layer RSI that shows your chart-timeframe RSI together with a higher-timeframe (HTF) RSI on the same pane. The HTF line is drawn as a live segment plus frozen “steps” for each completed HTF bar, so you can see where the higher timeframe momentum held during your lower-timeframe bars.
How it works
Auto HTF mapping (when “Auto” is selected):
Intraday < 30m → uses 60m (1-hour) RSI
30m ≤ tf < 240m (4h) → uses 240m (4-hour) RSI
240m ≤ tf < 1D → uses 1D RSI
1D → uses 1W RSI
1W or 2W → uses 1M RSI
≥ 1M → keeps the same timeframe
The HTF series is requested with request.security(..., gaps_off, lookahead_off), so values are confirmed bar-by-bar. When a new HTF bar begins, the previous value is “frozen” as a horizontal segment; the current HTF value is shown by a short moving segment and a small dot (so you can read the last value easily).
Visuals
Current RSI (chart TF): solid line (color/width configurable).
HTF RSI: same-pane line + tiny circle for the latest value; historical step segments show completed HTF bars.
Guides: dashed 70 / 30 bands, dotted 60/40 helpers, dashed 50 midline.
Inputs
Higher Time Frame: Auto or a fixed TF (1, 3, 5, 10, 15, 30, 45, 60, 120, 180, 240, 360, 480, 720, D, W, 2W, M, 3M, 6M, 12M).
Length: RSI period (default 14).
Source: price source for RSI.
RSI / HTF RSI colors & widths.
Number of HTF RSI Bars: how many frozen HTF segments to keep.
Reading it
Alignment: When RSI (current TF) and HTF RSI both push in the same direction, momentum is aligned across frames.
Divergence across frames: Current RSI failing to confirm HTF direction can warn about chops or early slowdowns.
Zones: 70/30 boundaries for classic overbought/oversold; 60/40 can be used as trend bias rails; 50 is the balance line.
This is a context indicator, not a signal generator. Combine with your entry/exit rules.
Notes & limitations
HTF values do not repaint after their bar closes (lookahead is off). The short “live” segment will evolve until the HTF bar closes — this is expected.
Very small panels or extremely long histories may impact performance if you keep a large number of HTF segments.
Credits
Original concept by LonesomeTheBlue; Pine v6 refactor and auto-mapping rules by trading_mura.
Suggested use
Day traders: run the indicator on 5–15m and keep HTF on Auto to see 1h/4h momentum.
Swing traders: run it on 1h–4h and watch the daily HTF.
Position traders: run on daily and watch the weekly HTF.
If you find it useful, a ⭐ helps others discover it.
RSI Z-score | Lemniscuss🧠 Introducing RSI Z-Score (RSI-Z) by Lemniscuss
🛠️ Overview
RSI Z-Score (RSI-Z) is a momentum-based market condition detector that transforms the classic Relative Strength Index (RSI) into a standardized volatility framework.
By applying Z-Score normalization to the RSI, this tool allows traders to identify statistically significant deviations in momentum — cutting through noise and highlighting high-probability turning points.
RSI-Z is optimized for trend inflection detection and overextension spotting, providing both visual clarity and actionable trade signals with dynamic labeling and optional bar coloring.
🔍 How It Works
1️⃣ RSI Foundation
The system starts with a standard RSI calculation on a user-defined source and length (default: 45).
2️⃣ Z-Score Normalization
The RSI values are standardized by subtracting their mean and dividing by the standard deviation over the same lookback.
This converts RSI into a statistical measure — revealing how many standard deviations current momentum is from its mean.
3️⃣ Threshold Logic
Two customizable thresholds define actionable zones:
• Long Threshold → Signals bullish momentum shifts when crossed upward
• Short Threshold → Signals bearish momentum shifts when crossed downward
4️⃣ Signal State Tracking
A state variable locks in a bias (Long / Short / Neutral) until an opposing trigger appears, ensuring clear and consistent market bias mapping.
✨ Key Features
🔹 Statistically Driven Momentum Detection — Moves beyond fixed RSI overbought/oversold levels by using standard deviations for adaptive accuracy.
🔹 Customizable Thresholds — Fine-tune long/short triggers for different volatility environments.
🔹 Clear Visual Feedback — Candle coloring and signal labels make trade setups instantly recognizable.
🔹 Overlay-Friendly — Works directly on your main chart or in a separate pane.
⚙️ Custom Settings
• Source: Price stream for RSI calculation (default: close)
• RSI Length: Lookback period for RSI & Z-Score (default: 45)
• Long Threshold: Z-score value for bullish signal (default: 1)
• Short Threshold: Z-score value for bearish signal (default: -1.9)
• Long/Cash Signal Labels: Toggle for "Long"/"Short" markers
• Bar Coloring: Toggle for trend-based candle coloring
📌 Trading Applications
✅ Trend Reversals → Spot statistically significant shifts in momentum before traditional RSI signals trigger
✅ Overextension Monitoring → Identify when momentum has deviated too far from the mean
✅ Mean Reversion Setups → Use extreme Z-score values as potential reversion points
✅ Bias Confirmation → Combine with trend tools for higher conviction entries/exits
📌 Conclusion
RSI-Z by Lemniscuss offers a clean, statistics-backed upgrade to the classic RSI.
By framing momentum in standard deviation terms, it empowers traders to separate normal fluctuations from truly significant market moves — making it a valuable tool for both trend traders and mean reversion specialists.
🔹 Summary Highlights
1️⃣ Statistical upgrade to RSI for higher-quality signals
2️⃣ Threshold-based, customizable long/short triggers
3️⃣ Visual candle coloring & signal labels for clarity
4️⃣ Adaptable to trend, swing, or intraday strategies
📌 Disclaimer: Past performance is not indicative of future results. No indicator guarantees profitability — always test and manage risk appropriately.
RSI Games 1.2he "RSI Games 1.2" indicator enhances the standard RSI by adding several layers of analysis:
Standard RSI Calculation: It calculates the RSI based on a configurable length (default 14 periods) and a user-selected source (default close price).
RSI Bands: It plots horizontal lines at 70 (red, overbought), 50 (yellow, neutral), and 30 (green, oversold) to easily identify extreme RSI levels.
RSI Smoothing with Moving Averages (MAs) and Bollinger Bands (BBs):
You can apply various types of moving averages (SMA, EMA, SMMA, WMA, VWMA) to smooth the RSI line.
If you choose "SMA + Bollinger Bands," the indicator will also plot Bollinger Bands around the smoothed RSI, providing dynamic overbought/oversold levels based on volatility.
The RSI line itself changes color based on whether it's above (green) or below (red) its smoothing MA.
It also fills the area between the RSI and its smoothing MA, coloring it green when RSI is above and red when below.
Bollinger Band Signals: When Bollinger Bands are enabled, the indicator marks "Buy" signals (green arrow up) when the RSI crosses above the lower Bollinger Band and "Sell" signals (red arrow down) when it crosses below the upper Bollinger Band.
Background Coloring: The background of the indicator pane changes to light green when RSI is below 30 (oversold) and light red when RSI is above 70 (overbought), visually highlighting extreme conditions.
Divergence Detection: This is a key feature. The indicator automatically identifies and labels:
Regular Bullish Divergence: Price makes a lower low, but RSI makes a higher low. This often signals a potential reversal to the upside.
Regular Bearish Divergence: Price makes a higher high, but RSI makes a lower high. This often signals a potential reversal to the downside.
Hidden Bullish Divergence: Price makes a higher low, but RSI makes a lower low. This can indicate a continuation of an uptrend.
Hidden Bearish Divergence: Price makes a lower high, but RSI makes a higher high. This can indicate a continuation of a downtrend.
Divergences are visually marked with labels and can trigger alerts.
RSI Divergence StrategyOverview
The RSI Divergence Strategy Indicator is a trading tool that uses the RSI and divergences created to generate high-probability buy and sell signals.
I have provided the best formula of numbers to use for BTC on a 30 minute timeframe.
You can change where on RSI you enter and exit both long or short trades. This way you can experiment on different tokens using different entry/exit points. Can use on multiple timeframes.
This strategy is designed to open and close long or short trades based on the levels you provide it. You can then check on the RSI where the best levels are for each token you want to trade and amend it as required to generate a profitable strategy.
How It Works
The RSI Divergence Strategy Indicator uses bear and bull divergences in conjuction with a level you have input on the RSI.
RSI for Overbought/Oversold:
• Input variables for entry and exit levels and when the entry levels combine with a bear or bull divergence signal, a trade is alerted.
RSI Divergence:
• Buy and sell signals are confirmed when the RSI creates bearish or bullish divergences and these divergences are in the same area as your levels you input for entry to short or long.
After 7 years of experience and testing I have calculated the exact numbers required and produced a formula to calculate the exact input variables for a 30 minute Bitcoin chart.
Key Features
1️⃣ Divergence Identification – Ensures trades are taken only when a bull or bear divergence has formed.
2️⃣ Overbought/Oversold Input Filtering – Set up your own variables on the RSI for different markets after identifying patterns on the RSI in relation to a bearish or bullish divergence.
3️⃣ Works on any chart – Suitable for all markets and timeframes once you input the correct variables for entry and exit levels.
How to Use
🟢 Basic Trading:
• Use on any timeframe.
• Enter trade only when alert has fired off. Close when it says to exit.
• Change entry and exit levels in the properties of the strategy indicator.
• Make entry and exit levels coincide with bearish or bullish divergences on the RSI.
Check the strategy tester to see backtesting so you know if the indicator is profitable or not for that market and timeframe as each crypto token is different and so is the timeframe you choose.
📢 Webhook Automation:
• Set up TradingView Alerts to auto-execute trades via Webhook-compatible platforms.
Key additions for divergence visualization:
Divergence Arrows:
Bullish divergence: Green label with white 'bull ' text
Bearish divergence: Red label with white 'bear' text
Positioned at the pivot point
Divergence Lines:
Connects consecutive RSI pivot points
Automatically drawn between consecutive pivot points
Enhanced RSI Coloring:
Overbought zone: Red
Oversold zone: Green
Neutral zone: Gray
The visualization helps you instantly spot:
Where divergences are forming on the RSI
The pattern of higher lows (bullish) or lower highs (bearish)
Contextual coloring of RSI relative to standard levels
All divergence markers appear at the correct historical pivot points, making it easy to visually confirm divergence patterns as they develop.
Strategy levels and background zones also shown to help visual look.
Why This Combination?
This indicator is just a simple RSI tool.
It is designed to filter out weak trades and only execute trades that have:
✅ RSI Divergence
✅ Overbought or Oversold Conditions
It does not calculate downtrends or bear markets so care is recommended taking long trades during these times.
Why It’s Worth Using?
📈 Open Source – Free to use and learn from.
📉 Long or Short Term Trading Style – Entry/Exit parameters options are designed for both short or long term trades allowing you to experiment until you find a profitable strategy for that market you want to trade.
📢 Seamless Webhook Automation – Execute trades automatically with TradingView alerts.
💲 Ready to trade smarter?
✅ Add the RSI Divergence Strategy Indicator to your TradingView chart.
RSI Candle Trend🎯 Purpose:
This TradingView script is designed to visualize trend strength using RSI values as candle data, instead of traditional price candles. It transforms RSI data into custom candles using various smoothing and filtering methods (like Heikin-Ashi, Linear Regression, Rational Quadratic Filter, or McGinley Dynamic). It allows traders to:
📌Track RSI-based momentum using visual candle representation
📌Apply advanced smoothing/filters to the RSI to reduce noise
📌Highlight candle trend strength using dynamic coloring
📌Identify overbought/oversold zones using reference lines (RSI 80 and 20)
🧩 How It Works:
It calculates RSI values for open, high, low, close prices.
These RSI values are then optionally smoothed with user-selected moving averages (EMA, SMA, etc.).
Depending on the selected mode (Normal, Heikin-Ashi, Linear, Rational Quadratic), the RSI values are transformed into synthetic candles.
Candles are colored cyan (uptrend) or red (downtrend) based on RSI movement.
⚙️ Key Inputs:
Method: Type of moving average to smooth the RSI (e.g. EMA, SMA, VWMA, etc.)
Length: Length for RSI and smoothing filters
Candle: Type of candle transformation (Normal, Heikin-Ashi, Linear, Rational Quadratic)
Rational Quadratic: Parameter for the Rational Quadratic smoothing method
📊 Outputs:
Custom candles plotted using RSI-transformed values
Candle colors based on RSI strength:
Cyan for strong bullish RSI movement
Red for strong bearish RSI movement
Horizontal lines at RSI levels 80 and 20 (overbought/oversold)
🧠 Why Use This Indicator?
Unlike traditional RSI indicators that show a line, this tool:
Converts RSI into candle-style visualization
Helps traders visually interpret trend strength, reversals, or continuation patterns
Offers more refined control over RSI behavior and filtering
Provides a unique blend of momentum and candle analysis
❗Important Note:
This script is provided for educational purposes and does not constitute financial advice. Traders and investors should conduct their research and analysis before making any trading decisions.
RSI Strength & Consolidation Zones (Zeiierman)█ Overview
RSI Strength & Consolidation Zones (Zeiierman) is a hybrid momentum and volatility visualization tool that blends enhanced RSI interpretation with ADX-driven consolidation detection. This indicator doesn't just show where RSI is trending — it interprets how strong that trend is, when that strength changes, and where the market may be consolidating in anticipation of breakout movement.
Using a combination of Kalman-filtered RSI, custom-built DMI/ADX, and low-volatility zone recognition, it gives traders a dynamic RSI with strength-based coloring, while also highlighting consolidation zones to spot breakout opportunities.
█ Its uniqueness
Traditional RSI indicators lack context. They may show you when the market is overbought or oversold, but they won’t tell you how strong that condition is, or whether it’s likely to result in continuation or consolidation.
This tool aims to solve that by introducing adaptive strength metrics and structural compression zones, allowing traders to anticipate when the market is likely preparing for a move.
█ How It Works
⚪ Enhanced RSI
Combines traditional RSI and a custom RSI implementation
Smooths both through a Kalman filter for trend direction
Final RSI line reflects smoothed consensus between manual and built-in RSI
Adds an RSI + Strength overlay to show when the directional conviction is increasing
⚪ ADX-Driven Strength Layer
Directional Movement Index (DMI) is calculated both manually and with built-in smoothing
The average ADX value is used to calculate a strength modifier
When ADX exceeds 20, RSI is dynamically enhanced or dampened to reflect directional force
Resulting visual: RSI appears stronger or weaker based on confirmed trend conditions
⚪ Consolidation Zone Detection
When ADX falls below 20, the indicator enters a consolidation zone state
Boxes are drawn dynamically to contain the price within these low-volatility structures
Once the price breaks out of the zone, the indicator plots a breakout signal (▲ or ▼)
⚪ Breakouts
Breakout markers are placed at the first close outside the consolidation box
These signals serve as early indicators for potential trend continuation or reversal
█ How to Use
⚪ Confirm Momentum Strength
Use the RSI + Strength line to determine whether current momentum is backed by trend conviction. If strength expands alongside rising RSI, the move has confirmation.
⚪ Consolidations Zones
When RSI is around the midline, and a consolidation box appears, expect lower volatility and a range-bound market, followed by a breakout.
⚪ Use Breakout Signals for Entry
Look for ▲ or ▼ markers as early triggers. These often coincide with volume expansions or structural breaks.
█ Settings Explained
RSI Length – Number of bars used for RSI. Shorter = more sensitive.
DMI Length – Used in both custom and built-in ADX/DI calculations.
ADX Smoothing – Smooths the trend strength signal. Higher values = smoother strength detection.
Trend Confirmation (Filter Strength) – Adjusts the responsiveness of the Kalman filter.
-----------------
Disclaimer
The content provided in my scripts, indicators, ideas, algorithms, and systems is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a solicitation to buy or sell any financial instruments. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
RSI SiaThis script is a custom indicator for TradingView written in Pine Script version 5. It calculates the Relative Strength Index (RSI) and uses it to generate trading signals. Here's a breakdown of what the script does:
Key Features:
RSI Calculation:
The script calculates the RSI using a 14-period window.
It also calculates the momentum of the RSI over a 9-period window (rsi delta) and a simple moving average (SMA) of the RSI over a 3-period window (rsi sma).
Composite Index (CI):
The composite index is calculated as the sum of rsi delta and rsi sma.
Horizontal Lines and Zones:
Several horizontal lines are plotted at different levels (e.g., 20, 40, 60, 80, 120, 150, 180) to indicate overbought and oversold conditions.
Filled zones are created between certain levels to highlight areas of interest.
Moving Averages:
The script plots SMA and EMA of the RSI when Enable RSI ma is set to true.
It also plots moving averages of the composite index.
Crossover Signals:
The script detects bullish and bearish crossovers between the SMA and EMA of the RSI.
It plots shapes (labels) on the chart to indicate buy (BUY) and sell (SELL) signals based on these crossovers.
Usage:
Enable RSIma: This input allows you to enable or disable the plotting of RSI moving averages.
i1: This variable is used to adjust the vertical position of the composite index and its moving averages.
Visualization:
The RSI is plotted in black.
The RSI fast trigger line (SMA of RSI) is plotted in green when enabled.
The RSI slow trigger line (EMA of RSI) is plotted in orange when enabled.
The composite index and its moving averages are plotted in red, green, and orange.
Buy and sell signals are indicated with green and red labels, respectively.
This script can be used to identify potential trading opportunities based on RSI crossovers and the composite index.
RSI Candles with EMA byAuncleJoeThe Relative Strength Index (RSI) is one of the most widely used momentum indicators in trading. It helps traders assess whether an asset is overbought or oversold by measuring the speed and magnitude of recent price changes. Traditionally, RSI is displayed as a single line oscillating between 0 and 100, but this representation can sometimes make it difficult to spot trends, reversals, and momentum shifts effectively.
To enhance RSI visualization and usability, the RSI Candles with EMA indicator transforms the RSI values into candlestick charts, providing a more intuitive and dynamic way to analyze momentum. Unlike the traditional RSI line, this approach allows traders to observe RSI trends just as they would analyze price charts, making it easier to detect changes in momentum and trend strength.
Each RSI candle represents a specific period’s momentum activity. Green candles indicate that the RSI closed higher than it opened, signaling bullish momentum, while red candles suggest that the RSI closed lower than it opened, indicating bearish sentiment. This candlestick-style visualization helps traders spot RSI trends, breakouts, and reversals more effectively than a simple line chart.
To further refine momentum analysis, this indicator also includes an Exponential Moving Average (EMA) of RSI. The EMA smooths RSI fluctuations and provides a clearer trend direction. When RSI candles remain above the EMA, it suggests strong buying momentum, whereas RSI candles falling below the EMA indicate increasing selling pressure. This combination of RSI candlesticks and an EMA line allows traders to better identify shifts in market sentiment and potential trend reversals.
Additionally, the indicator includes customizable overbought and oversold levels (defaulted at 70 and 30, respectively). These levels help traders recognize when an asset might be overextended in either direction, potentially signaling an upcoming reversal. When RSI candles approach or cross these thresholds, traders can anticipate possible changes in market direction.
This indicator is particularly useful for a wide range of traders. Scalpers and day traders can leverage it to quickly identify short-term momentum shifts, while swing traders can use it to detect potential reversals in multi-day trends. Trend-following traders can confirm bullish or bearish trends based on RSI’s position relative to its EMA, and mean reversion traders can use it to spot extreme conditions where price action might snap back.
By combining RSI candlesticks with an EMA filter, this indicator provides a more dynamic and visually intuitive approach to momentum trading. It offers clearer trend signals, better reversal detection, and enhanced decision-making, making it an essential tool for traders who rely on RSI-based strategies.
RSI Signal with filters by S.Kodirov📌 English
RSI Signal with Multi-Timeframe Filters
This TradingView indicator generates RSI-based buy and sell signals on the 15-minute timeframe with additional filtering from other timeframes (5M, 30M, 1M).
🔹 Signal Types:
✅ 15/5B & 15/5S – RSI 15M filtered by 5M
✅ 15/30/1B & 15/30/1S – RSI 15M filtered by 30M & 1M
✅ 15B & 15S – RSI 15M without filters
🔹 How It Works:
Signals are displayed as colored triangles on the chart.
Labels indicate the type of signal (e.g., 15/5B, 15S).
Alerts notify users when a signal appears.
🚀 Best for short-term trading with RSI confirmation from multiple timeframes!
📌 Русский
Индикатор RSI с мульти-таймфрейм фильтрами
Этот индикатор для TradingView генерирует сигналы покупки и продажи на 15-минутном таймфрейме, используя фильтрацию с других таймфреймов (5M, 30M, 1M).
🔹 Типы сигналов:
✅ 15/5B & 15/5S – RSI 15M с фильтром 5M
✅ 15/30/1B & 15/30/1S – RSI 15M с фильтрами 30M и 1M
✅ 15B & 15S – RSI 15M без фильтров
🔹 Как это работает:
Сигналы отображаются как цветные треугольники на графике.
Подписи показывают тип сигнала (например, 15/5B, 15S).
Алерты уведомляют трейдера о появлении сигнала.
🚀 Идеально для краткосрочной торговли с подтверждением RSI на нескольких таймфреймах!
📌 O'zbekcha
Ko'p vaqt oralig‘idagi RSI signallari
Ushbu TradingView indikatori 15 daqiqalik vaqt oralig‘ida RSI asosida sotib olish va sotish signallarini yaratadi. Bundan tashqari, boshqa vaqt oralig‘idagi (5M, 30M, 1M) RSI filtrlarini ham hisobga oladi.
🔹 Signal turlari:
✅ 15/5B & 15/5S – 5M bilan filtrlangan RSI 15M
✅ 15/30/1B & 15/30/1S – 30M va 1M bilan filtrlangan RSI 15M
✅ 15B & 15S – Filtrsiz RSI 15M
🔹 Qanday ishlaydi?
Signallar rangli uchburchaklar shaklida ko‘rsatiladi.
Yozuvlar signal turini ko‘rsatadi (masalan, 15/5B, 15S).
Xabarnomalar yangi signal paydo bo‘lganda treyderni ogohlantiradi.
🚀 Ko‘p vaqt oralig‘ida RSI tasdig‘i bilan qisqa muddatli savdo uchun ideal!
RSI Trend Bias█ OVERVIEW
The RSI Trend Bias indicator is a custom technical analysis tool that utilizes the Relative Strength Index (RSI) to gauge market momentum and identify potential trend shifts. By monitoring RSI crossovers and crossunders relative to customizable threshold levels, the indicator provides clear visual cues that distinguish between bullish and bearish market conditions. This flexible approach makes it suitable for both short-term scalping and longer-term trend analysis.
█ KEY FEATURES
Dynamic RSI Trend Detection
The indicator dynamically determines market bias by monitoring the RSI for crossovers above the upper threshold and crossunders below the lower threshold. This method ensures that only significant momentum shifts trigger a change in trend, reducing false signals in volatile markets.
Adaptive Visualizations
The RSI Trend Bias indicator enhances clarity by plotting the RSI with colors that reflect current market conditions. Additionally, it offers an optional background color change to further emphasize bullish or bearish states, providing immediate visual feedback to traders.
Clear Threshold Indicators
Upper and lower threshold levels are plotted as constant reference lines, clearly delineating overbought and oversold regions. These markers help traders quickly assess market conditions at a glance.
Customizable Settings
Users have full control over key parameters including the RSI length, threshold levels, and visual settings. This customization allows the indicator to be tailored for different markets and trading styles, ensuring optimal performance across various timeframes.
█ UNDERLYING METHODOLOGY & CALCULATIONS
RSI Calculation
The indicator computes the Relative Strength Index over a user-defined period (default is 14), providing a measure of market momentum that reflects price changes over time.
Trend Determination Logic
By detecting when the RSI crosses above the upper threshold, the indicator signals a shift towards bullish momentum. Conversely, a crossunder below the lower threshold indicates bearish conditions. This straightforward binary approach filters out minor fluctuations, ensuring clarity in trend analysis.
Visual Signal Integration
Based on the detected trend, the RSI line is dynamically colored—green for bullish conditions and red for bearish conditions. An optional background color change further reinforces these signals, offering an immediate visual cue of prevailing market sentiment.
█ HOW TO USE THE INDICATOR
1 — Apply the Indicator
• Add the RSI Trend Bias indicator to a separate pane in your trading platform.
2 — Adjust Settings for Your Market
• RSI Length – Define the period for RSI calculation (default is 14).
• Threshold Levels – Set the upper (default 70) and lower (default 30) thresholds to identify overbought and oversold conditions.
• Visual Customization – Choose the bullish (green) and bearish (red) colors, and enable background color changes to enhance visual trend recognition.
3 — Interpret the Signals
• RSI Line – Observe the dynamically colored RSI line; a shift to green signals bullish momentum, while red indicates bearish conditions.
• Threshold Levels – Use the constant upper and lower lines as reference points for overbought and oversold states.
• Signal Timing – A crossover above the upper threshold or a crossunder below the lower threshold suggests potential entry or exit points.
4 — Integrate with Your Trading Strategy
• Combine RSI Trend Bias signals with other technical analysis tools to confirm market direction.
• Utilize the visual cues for fine-tuning your entry and exit decisions, ensuring robust risk management and optimized trade timing.
█ CONCLUSION
The RSI Trend Bias indicator offers a streamlined yet effective approach to monitoring market momentum. By leveraging the established principles of RSI analysis alongside dynamic visual cues, it enables traders to quickly identify bullish and bearish trends. Its customizable features and clear threshold indicators make it a valuable tool for enhancing technical analysis and making informed trading decisions.
RSI Divergence[UgurTash] – Real-Time📈 RSI Divergence – Real-Time, Adaptive, and Intelligent RSI Divergence Detection
🚀 What Does This Indicator Do?
RSI Divergence is a real-time divergence detection tool that helps traders identify bullish and bearish divergences between price and the Relative Strength Index (RSI). Unlike traditional RSI-based indicators, this script offers:
✅ Real-time detection – No need to wait for bar closes or repainting.
✅ Dynamic time-frame adaptation – The script automatically adjusts RSI settings based on the selected chart time frame.
✅ Multi-layered divergence analysis – Supports short-term, medium-term, and long-term divergence detection with an optional all-term mode that dynamically selects the best configuration.
🛠 How Does It Work?
Pivot-Based Divergence Detection:
The script analyzes pivot points on both price and RSI to determine valid divergences.
Bullish divergence occurs when price forms a lower low but RSI trends higher, indicating potential upward momentum.
Bearish divergence occurs when price forms a higher high but RSI trends lower, signaling possible weakness.
Adaptive RSI Calculation:
The RSI length is dynamically adjusted based on the chosen time frame:
Short-Term: RSI (7) for 1-5 min charts.
Medium-Term: RSI (14) for 15-60 min charts.
Long-Term: RSI (28) for 4H+ charts.
In All-Term Mode, the script automatically determines the best RSI length based on the active chart timeframe.
Smart Visualization & Alerts:
Bullish divergences are marked with green lines & labels.
Bearish divergences are highlighted in red.
Users can customize symbol size, divergence labels, and colors.
Instant alerts notify traders as soon as a divergence is detected.
🎯 How to Use This Indicator?
📌 For Trend Reversals: Look for bullish divergences at key support levels and bearish divergences at resistance zones.
📌 For Trend Continuation: Combine divergence signals with moving averages, volume analysis, or price action strategies to confirm trades.
📌 For Scalping & Swing Trading: Adjust the time-frame settings to match your trading style.
🏆 What Makes This Indicator Original?
🔹 Unlike standard RSI divergence indicators, this script features real-time analysis with no repainting, allowing for instant trading decisions.
🔹 The time-frame adaptive RSI makes it dynamic and suitable for any market condition.
🔹 The multi-term divergence detection offers flexibility, giving traders a precise view of both short-term & long-term market structure.
⚠ Note: No indicator guarantees 100% accuracy. Always use additional confirmations and sound risk management strategies.
If you find this tool useful, don’t forget to support & share! 🚀
RSI Wave Function Ultimate OscillatorEnglish Explanation of the "RSI Wave Function Ultimate Oscillator" Pine Script Code
Understanding the Code
Purpose:
This Pine Script code creates a custom indicator that combines the Relative Strength Index (RSI) with a wave function to potentially provide more nuanced insights into market dynamics.
Key Components:
* Wave Function: This is a custom calculation that introduces a sinusoidal wave component to the price data. The frequency parameter controls the speed of the oscillation, and the decay factor determines how quickly the influence of past prices diminishes.
* Smoothed Signal: The wave function is applied to the closing price to create a smoothed signal, which is essentially a price series modulated by a sine wave.
* RSI: The traditional RSI is then calculated on this smoothed signal, providing a measure of the speed and change of price movements relative to recent price changes.
Calculation Steps:
* Wave Function Calculation:
* A sinusoidal wave is generated based on the bar index and the frequency parameter.
* The wave is combined with the closing price using a weighted average, where the decay factor determines the weight given to previous values.
* RSI Calculation:
* The RSI is calculated on the smoothed signal using a standard RSI formula.
* Plotting:
* The RSI values are plotted on a chart, along with horizontal lines at 70 and 30 to indicate overbought and oversold conditions.
* The area between the RSI line and the overbought/oversold lines is filled with color to visually represent the market condition.
Interpretation and Usage
* Wave Function: The wave function introduces cyclical patterns into the price data, which can help identify potential turning points or momentum shifts.
* RSI: The RSI provides a measure of the speed and change of price movements relative to recent price changes. When applied to the smoothed signal, it can help identify overbought and oversold conditions, as well as potential divergences between price and momentum.
* Combined Indicator: The combination of the wave function and RSI aims to provide a more sensitive and potentially earlier indication of market reversals.
* Signals:
* Crossovers: Crossovers of the RSI line above or below the overbought/oversold lines can be used to generate buy or sell signals.
* Divergences: Divergences between the price and the RSI can indicate a weakening trend.
* Oscillations: The amplitude and frequency of the oscillations in the RSI can provide insights into the strength and duration of market trends.
How it Reflects Market Volatility
* Amplified Volatility: The wave function can amplify the volatility of the price data, making it easier to identify potential turning points.
* Smoothing: The decay factor helps to smooth out short-term fluctuations, allowing the indicator to focus on longer-term trends.
* Sensitivity: The combination of the wave function and RSI can make the indicator more sensitive to changes in market momentum.
In essence, this custom indicator attempts to enhance traditional RSI analysis by incorporating a cyclical component that can potentially provide earlier signals of market reversals.
Note: The effectiveness of this indicator will depend on various factors, including the specific market, time frame, and the chosen values for the frequency and decay parameters. It is recommended to conduct thorough backtesting and optimize the parameters to suit your specific trading strategy.
RSI Weighted Trend System I [InvestorUnknown]The RSI Weighted Trend System I is an experimental indicator designed to combine both slow-moving trend indicators for stable trend identification and fast-moving indicators to capture potential major turning points in the market. The novelty of this system lies in the dynamic weighting mechanism, where fast indicators receive weight based on the current Relative Strength Index (RSI) value, thus providing a flexible tool for traders seeking to adapt their strategies to varying market conditions.
Dynamic RSI-Based Weighting System
The core of the indicator is the dynamic weighting of fast indicators based on the value of the RSI. In essence, the higher the absolute value of the RSI (whether positive or negative), the higher the weight assigned to the fast indicators. This enables the system to capture rapid price movements around potential turning points.
Users can choose between a threshold-based or continuous weight system:
Threshold-Based Weighting: Fast indicators are activated only when the absolute RSI value exceeds a user-defined threshold. Below this threshold, fast indicators receive no weight.
Continuous Weighting: By setting the weight threshold to zero, the fast indicators always receive some weight, although this can result in more false signals in ranging markets.
// Calculate weight for Fast Indicators based on RSI (Slow Indicator weight is kept to 1 for simplicity)
f_RSI_Weight_System(series float rsi, simple float weight_thre) =>
float fast_weight = na
float slow_weight = na
if weight_thre > 0
if math.abs(rsi) <= weight_thre
fast_weight := 0
slow_weight := 1
else
fast_weight := 0 + math.sqrt(math.abs(rsi))
slow_weight := 1
else
fast_weight := 0 + math.sqrt(math.abs(rsi))
slow_weight := 1
Slow and Fast Indicators
Slow Indicators are designed to identify stable trends, remaining constant in weight. These include:
DMI (Directional Movement Index) For Loop
CCI (Commodity Channel Index) For Loop
Aroon For Loop
Fast Indicators are more responsive and designed to spot rapid trend shifts:
ZLEMA (Zero-Lag Exponential Moving Average) For Loop
IIRF (Infinite Impulse Response Filter) For Loop
Each of these indicators is calculated using a for-loop method to generate a moving average, which captures the trend of a given length range.
RSI Normalization
To facilitate the weighting system, the RSI is normalized from its usual 0-100 range to a -1 to 1 range. This allows for easy scaling when calculating weights and helps the system adjust to rapidly changing market conditions.
// Normalize RSI (1 to -1)
f_RSI(series float rsi_src, simple int rsi_len, simple string rsi_wb, simple string ma_type, simple int ma_len) =>
output = switch rsi_wb
"RAW RSI" => ta.rsi(rsi_src, rsi_len)
"RSI MA" => ma_type == "EMA" ? (ta.ema(ta.rsi(rsi_src, rsi_len), ma_len)) : (ta.sma(ta.rsi(rsi_src, rsi_len), ma_len))
Signal Calculation
The final trading signal is a weighted average of both the slow and fast indicators, depending on the calculated weights from the RSI. This ensures a balanced approach, where slow indicators maintain overall trend guidance, while fast indicators provide timely entries and exits.
// Calculate Signal (as weighted average)
sig = math.round(((DMI*slow_w) + (CCI*slow_w) + (Aroon*slow_w) + (ZLEMA*fast_w) + (IIRF*fast_w)) / (3*slow_w + 2*fast_w), 2)
Backtest Mode and Performance Metrics
This version of the RSI Weighted Trend System includes a comprehensive backtesting mode, allowing users to evaluate the performance of their selected settings against a Buy & Hold strategy. The backtesting includes:
Equity calculation based on the signals generated by the indicator.
Performance metrics table comparing Buy & Hold strategy metrics with the system’s signals, including: Mean, positive, and negative return percentages, Standard deviations (of all, positive and negative returns), Sharpe Ratio, Sortino Ratio, and Omega Ratio
f_PerformanceMetrics(series float base, int Lookback, simple float startDate, bool Annualize = true) =>
// Initialize variables for positive and negative returns
pos_sum = 0.0
neg_sum = 0.0
pos_count = 0
neg_count = 0
returns_sum = 0.0
returns_squared_sum = 0.0
pos_returns_squared_sum = 0.0
neg_returns_squared_sum = 0.0
// Loop through the past 'Lookback' bars to calculate sums and counts
if (time >= startDate)
for i = 0 to Lookback - 1
r = (base - base ) / base
returns_sum += r
returns_squared_sum += r * r
if r > 0
pos_sum += r
pos_count += 1
pos_returns_squared_sum += r * r
if r < 0
neg_sum += r
neg_count += 1
neg_returns_squared_sum += r * r
float export_array = array.new_float(12)
// Calculate means
mean_all = math.round((returns_sum / Lookback) * 100, 2)
mean_pos = math.round((pos_count != 0 ? pos_sum / pos_count : na) * 100, 2)
mean_neg = math.round((neg_count != 0 ? neg_sum / neg_count : na) * 100, 2)
// Calculate standard deviations
stddev_all = math.round((math.sqrt((returns_squared_sum - (returns_sum * returns_sum) / Lookback) / Lookback)) * 100, 2)
stddev_pos = math.round((pos_count != 0 ? math.sqrt((pos_returns_squared_sum - (pos_sum * pos_sum) / pos_count) / pos_count) : na) * 100, 2)
stddev_neg = math.round((neg_count != 0 ? math.sqrt((neg_returns_squared_sum - (neg_sum * neg_sum) / neg_count) / neg_count) : na) * 100, 2)
// Calculate probabilities
prob_pos = math.round((pos_count / Lookback) * 100, 2)
prob_neg = math.round((neg_count / Lookback) * 100, 2)
prob_neu = math.round(((Lookback - pos_count - neg_count) / Lookback) * 100, 2)
// Calculate ratios
sharpe_ratio = math.round(mean_all / stddev_all * (Annualize ? math.sqrt(Lookback) : 1), 2)
sortino_ratio = math.round(mean_all / stddev_neg * (Annualize ? math.sqrt(Lookback) : 1), 2)
omega_ratio = math.round(pos_sum / math.abs(neg_sum), 2)
// Set values in the array
array.set(export_array, 0, mean_all), array.set(export_array, 1, mean_pos), array.set(export_array, 2, mean_neg),
array.set(export_array, 3, stddev_all), array.set(export_array, 4, stddev_pos), array.set(export_array, 5, stddev_neg),
array.set(export_array, 6, prob_pos), array.set(export_array, 7, prob_neu), array.set(export_array, 8, prob_neg),
array.set(export_array, 9, sharpe_ratio), array.set(export_array, 10, sortino_ratio), array.set(export_array, 11, omega_ratio)
// Export the array
export_array
The metrics help traders assess the effectiveness of their strategy over time and can be used to optimize their settings.
Calibration Mode
A calibration mode is included to assist users in tuning the indicator to their specific needs. In this mode, traders can focus on a specific indicator (e.g., DMI, CCI, Aroon, ZLEMA, IIRF, or RSI) and fine-tune it without interference from other signals.
The calibration plot visualizes the chosen indicator's performance against a zero line, making it easy to see how changes in the indicator’s settings affect its trend detection.
Customization and Default Settings
Important Note: The default settings provided are not optimized for any particular market or asset. They serve as a starting point for experimentation. Traders are encouraged to calibrate the system to suit their own trading strategies and preferences.
The indicator allows deep customization, from selecting which indicators to use, adjusting the lengths of each indicator, smoothing parameters, and the RSI weight system.
Alerts
Traders can set alerts for both long and short signals when the indicator flips, allowing for automated monitoring of potential trading opportunities.
RSI (Kernel Optimized) | Flux Charts💎 GENERAL OVERVIEW
Introducing our new KDE Optimized RSI Indicator! This indicator adds a new aspect to the well-known RSI indicator, with the help of the KDE (Kernel Density Estimation) algorithm, estimates the probability of a candlestick will be a pivot or not. For more information about the process, please check the "HOW DOES IT WORK ?" section.
Features of the new KDE Optimized RSI Indicator :
A New Approach To Pivot Detection
Customizable KDE Algorithm
Realtime RSI & KDE Dashboard
Alerts For Possible Pivots
Customizable Visuals
❓ HOW TO INTERPRET THE KDE %
The KDE % is a critical metric that reflects how closely the current RSI aligns with the KDE (Kernel Density Estimation) array. In simple terms, it represents the likelihood that the current candlestick is forming a pivot point based on historical data patterns. a low percentage suggests a lower probability of the current candlestick being a pivot point. In these cases, price action is less likely to reverse, and existing trends may continue. At moderate levels, the possibility of a pivot increases, indicating potential trend shifts or consolidations.Traders should start monitoring closely for confirmation signals. An even higher KDE % suggests a strong likelihood that the current candlestick could form a pivot point, which could lead to a reversal or significant price movement. These points often align with overbought or oversold conditions in traditional RSI analysis, making them key moments for potential trade entry or exit.
📌 HOW DOES IT WORK ?
The RSI (Relative Strength Index) is a widely used oscillator among traders. It outputs a value between 0 - 100 and gives a glimpse about the current momentum of the price action. This indicator then calculates the RSI for each candlesticks, and saves them into an array if the candlestick is a pivot. The low & high pivot RSIs' are inserted into two different arrays. Then the a KDE array is calculated for both of the low & high pivot RSI arrays. Explaining the KDE might be too much for this write-up, but for a brief explanation, here are the steps :
1. Define the necessary options for the KDE function. These are : Bandwidth & Nº Steps, Array Range (Array Max - Array Min)
2. After that, create a density range array. The array has (steps * 2 - 1) elements and they are calculated by (arrMin + i * stepCount), i being the index.
3. Then, define a kernel function. This indicator has 3 different kernel distribution modes : Uniform, Gaussian and Sigmoid
4. Then, define a temporary value for the current element of KDE array.
5. For each element E in the pivot RSI array, add "kernel(densityRange.get(i) - E, 1.0 / bandwidth)" to the temporary value.
6. Add 1.0 / arrSize * to the KDE array.
Then the prefix sum array of the KDE array is calculated. For each candlestick, the index closest to it's RSI value in the KDE array is found using binary search. Then for the low pivot KDE calculation, the sum of KDE values from found index to max index is calculated. For the high pivot KDE, the sum of 0 to found index is used. Then if high or low KDE value is greater than the activation threshold determined in the settings, a bearish or bullish arrow is plotted after bar confirmation respectively. The arrows are drawn as long as the KDE value of current candlestick is greater than the threshold. When the KDE value is out of the threshold, a less transparent arrow is drawn, indicating a possible pivot point.
🚩 UNIQUENESS
This indicator combines RSI & KDE Algorithm to get a foresight of possible pivot points. Pivot points are important entry, confirmation and exit points for traders. But to their nature, they can be only detected after more candlesticks are rendered after them. The purpose of this indicator is to alert the traders of possible pivot points using KDE algorithm right away when they are confirmed. The indicator also has a dashboard for realtime view of the current RSI & Bullish or Bearish KDE value. You can fully customize the KDE algorithm and set up alerts for pivot detection.
⚙️ SETTINGS
1. RSI Settings
RSI Length -> The amount of bars taken into account for RSI calculation.
Source -> The source value for RSI calculation.
2. Pivots
Pivot Lengths -> Pivot lengths for both high & low pivots. For example, if this value is set to 21; 21 bars before AND 21 bars after a candlestick must be higher for a candlestick to be a low pivot.
3. KDE
Activation Threshold -> This setting determines the amount of arrows shown. Higher options will result in more arrows being rendered.
Kernel -> The kernel function as explained in the upper section.
Bandwidth -> The bandwidth variable as explained in the upper section. The smoothness of the KDE function is tied to this setting.
Nº Bins -> The Nº Steps variable as explained in the upper section. It determines the precision of the KDE algorithm.
RSI Trend Following StrategyOverview
The RSI Trend Following Strategy utilizes Relative Strength Index (RSI) to enter the trade for the potential trend continuation. It uses Stochastic indicator to check is the price is not in overbought territory and the MACD to measure the current price momentum. Moreover, it uses the 200-period EMA to filter the counter trend trades with the higher probability. The strategy opens only long trades.
Unique Features
Dynamic stop-loss system: Instead of fixed stop-loss level strategy utilizes average true range (ATR) multiplied by user given number subtracted from the position entry price as a dynamic stop loss level.
Configurable Trading Periods: Users can tailor the strategy to specific market windows, adapting to different market conditions.
Two layers trade filtering system: Strategy utilizes MACD and Stochastic indicators measure the current momentum and overbought condition and use 200-period EMA to filter trades against major trend.
Trailing take profit level: After reaching the trailing profit activation level script activates the trailing of long trade using EMA. More information in methodology.
Wide opportunities for strategy optimization: Flexible strategy settings allows users to optimize the strategy entries and exits for chosen trading pair and time frame.
Methodology
The strategy opens long trade when the following price met the conditions:
RSI is above 50 level.
MACD line shall be above the signal line
Both lines of Stochastic shall be not higher than 80 (overbought territory)
Candle’s low shall be above the 200 period EMA
When long trade is executed, strategy set the stop-loss level at the price ATR multiplied by user-given value below the entry price. This level is recalculated on every next candle close, adjusting to the current market volatility.
At the same time strategy set up the trailing stop validation level. When the price crosses the level equals entry price plus ATR multiplied by user-given value script starts to trail the price with trailing EMA(by default = 20 period). If price closes below EMA long trade is closed. When the trailing starts, script prints the label “Trailing Activated”.
Strategy settings
In the inputs window user can setup the following strategy settings:
ATR Stop Loss (by default = 1.75)
ATR Trailing Profit Activation Level (by default = 2.25)
MACD Fast Length (by default = 12, period of averaging fast MACD line)
MACD Fast Length (by default = 26, period of averaging slow MACD line)
MACD Signal Smoothing (by default = 9, period of smoothing MACD signal line)
Oscillator MA Type (by default = EMA, available options: SMA, EMA)
Signal Line MA Type (by default = EMA, available options: SMA, EMA)
RSI Length (by default = 14, period for RSI calculation)
Trailing EMA Length (by default = 20, period for EMA, which shall be broken close the trade after trailing profit activation)
Justification of Methodology
This trading strategy is designed to leverage a combination of technical indicators—Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), Stochastic Oscillator, and the 200-period Exponential Moving Average (EMA)—to determine optimal entry points for long trades. Additionally, the strategy uses the Average True Range (ATR) for dynamic risk management to adapt to varying market conditions. Let's look in details for which purpose each indicator is used for and why it is used in this combination.
Relative Strength Index (RSI) is a momentum indicator used in technical analysis to measure the speed and change of price movements in a financial market. It helps traders identify whether an asset is potentially overbought (overvalued) or oversold (undervalued), which can indicate a potential reversal or continuation of the current trend.
How RSI Works? RSI tracks the strength of recent price changes. It compares the average gains and losses over a specific period (usually 14 periods) to assess the momentum of an asset. Average gain is the average of all positive price changes over the chosen period. It reflects how much the price has typically increased during upward movements. Average loss is the average of all negative price changes over the same period. It reflects how much the price has typically decreased during downward movements.
RSI calculates these average gains and losses and compares them to create a value between 0 and 100. If the RSI value is above 70, the asset is generally considered overbought, meaning it might be due for a price correction or reversal downward. Conversely, if the RSI value is below 30, the asset is considered oversold, suggesting it could be poised for an upward reversal or recovery. RSI is a useful tool for traders to determine market conditions and make informed decisions about entering or exiting trades based on the perceived strength or weakness of an asset's price movements.
This strategy uses RSI as a short-term trend approximation. If RSI crosses over 50 it means that there is a high probability of short-term trend change from downtrend to uptrend. Therefore RSI above 50 is our first trend filter to look for a long position.
The MACD (Moving Average Convergence Divergence) is a popular momentum and trend-following indicator used in technical analysis. It helps traders identify changes in the strength, direction, momentum, and duration of a trend in an asset's price.
The MACD consists of three components:
MACD Line: This is the difference between a short-term Exponential Moving Average (EMA) and a long-term EMA, typically calculated as: MACD Line = 12 period EMA − 26 period EMA
Signal Line: This is a 9-period EMA of the MACD Line, which helps to identify buy or sell signals. When the MACD Line crosses above the Signal Line, it can be a bullish signal (suggesting a buy); when it crosses below, it can be a bearish signal (suggesting a sell).
Histogram: The histogram shows the difference between the MACD Line and the Signal Line, visually representing the momentum of the trend. Positive histogram values indicate increasing bullish momentum, while negative values indicate increasing bearish momentum.
This strategy uses MACD as a second short-term trend filter. When MACD line crossed over the signal line there is a high probability that uptrend has been started. Therefore MACD line above signal line is our additional short-term trend filter. In conjunction with RSI it decreases probability of following false trend change signals.
The Stochastic Indicator is a momentum oscillator that compares a security's closing price to its price range over a specific period. It's used to identify overbought and oversold conditions. The indicator ranges from 0 to 100, with readings above 80 indicating overbought conditions and readings below 20 indicating oversold conditions.
It consists of two lines:
%K: The main line, calculated using the formula (CurrentClose−LowestLow)/(HighestHigh−LowestLow)×100 . Highest and lowest price taken for 14 periods.
%D: A smoothed moving average of %K, often used as a signal line.
This strategy uses stochastic to define the overbought conditions. The logic here is the following: we want to avoid long trades in the overbought territory, because when indicator reaches it there is a high probability that the potential move is gonna be restricted.
The 200-period EMA is a widely recognized indicator for identifying the long-term trend direction. The strategy only trades in the direction of this primary trend to increase the probability of successful trades. For instance, when the price is above the 200 EMA, only long trades are considered, aligning with the overarching trend direction.
Therefore, strategy uses combination of RSI and MACD to increase the probability that price now is in short-term uptrend, Stochastic helps to avoid the trades in the overbought (>80) territory. To increase the probability of opening long trades in the direction of a main trend and avoid local bounces we use 200 period EMA.
ATR is used to adjust the strategy risk management to the current market volatility. If volatility is low, we don’t need the large stop loss to understand the there is a high probability that we made a mistake opening the trade. User can setup the settings ATR Stop Loss and ATR Trailing Profit Activation Level to realize his own risk to reward preferences, but the unique feature of a strategy is that after reaching trailing profit activation level strategy is trying to follow the trend until it is likely to be finished instead of using fixed risk management settings. It allows sometimes to be involved in the large movements.
Backtest Results
Operating window: Date range of backtests is 2023.01.01 - 2024.08.01. It is chosen to let the strategy to close all opened positions.
Commission and Slippage: Includes a standard Binance commission of 0.1% and accounts for possible slippage over 5 ticks.
Initial capital: 10000 USDT
Percent of capital used in every trade: 30%
Maximum Single Position Loss: -3.94%
Maximum Single Profit: +15.78%
Net Profit: +1359.21 USDT (+13.59%)
Total Trades: 111 (36.04% win rate)
Profit Factor: 1.413
Maximum Accumulated Loss: 625.02 USDT (-5.85%)
Average Profit per Trade: 12.25 USDT (+0.40%)
Average Trade Duration: 40 hours
These results are obtained with realistic parameters representing trading conditions observed at major exchanges such as Binance and with realistic trading portfolio usage parameters.
How to Use
Add the script to favorites for easy access.
Apply to the desired timeframe and chart (optimal performance observed on 2h BTC/USDT).
Configure settings using the dropdown choice list in the built-in menu.
Set up alerts to automate strategy positions through web hook with the text: {{strategy.order.alert_message}}
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test strategies in a simulated environment before live implementation
RSI ATR Range [SS]Hey everyone,
Over the course of the last year I had a bunch of requests to do something with RSI. I did do an RSI expected move plotter, but the requests were to overhaul RSI and make it better I guess.
So here is my attempt!
This is the RSI ATR plotter. Its similar to my RSI expected move plotter, however, it gives you the ATR ranges associated with the current RSI value. This allows you to conceptualize RSI in a different way. Instead of looking for "oversold" over "overbought", you can actually just see the expected high to open range and the expected open to low range based on the current RSI.
This will allow you to determine such things as:
a) Is it likely to be bullish?
b) Is it likely to be bearish?
c) The average move, in a dollar amount, associated with this RSI.
In addition to presenting RSI in terms of ranges as opposed to the actual RSI value, the indicator will also signal likely reversal areas. Whenever there is a huge spike in RSI and range, whether it be up or down, this generally corresponds to an imminent reversal. The indicator is programmed to recognize this and plot little grey circles to notify you of an impending reversal.
Let's take a look at some reversal examples using NVDA:
In the chart above, we can see that the RSI signaled a reversal. As it was part of a downtrend, the reversal was bullish.
Let's look at a top reversal:
The chart above shows a likely downside reversal.
And some little bounce reversals here and there:
In addition to showing you the ATR range and reversals, the indicator will show you the RSI in a bar graph format:
You won't be able to look for RSI divergences, if you are a believer of those. However, you can definitely visualize them in the ATR ranges which are directly affected by the RSI readings.
Aspects of the indicator:
Bull ranges are displayed in green.
Bear ranges are displayed in red.
When green is present we know its entering or currently in a bullish RSI range:
Inversely, when it starts to shift red, we know we are entering a bearish RSI range:
There is a border that circles the range. It will be green when we are in a bullish range and red when we are in a bearish range. In addition to these 2 signals, the RSI bar chart itself will turn green in bullish ranges, and red in bearish ranges.
Here is bullish:
Here is bearish:
Customizability
You can customize the Source input for the RSI (default is close). As well as the length (default is 14).
The ATR length is defaulted to 500. My suggestion is to leave this be. You can increase it but I would not suggest decreasing it as it may omit some of the RSI ranges from its history.
And that is the indicator my friends! Hope you enjoy!
As always, safe trades!
RSI, STOCHASTIC RSI AND MFI COMBOCombining the Relative Strength Index (RSI), Stochastic RSI (StochRSI), and Money Flow Index (MFI) can provide traders with a comprehensive approach to analyze market momentum, overbought/oversold conditions, and money flow. Each indicator offers unique insights, and their combination can help confirm trading signals and filter out false signals. Let's delve into each indicator and then discuss how they can be used together:
Relative Strength Index (RSI) 14: DA BLUE LINE
The RSI is a momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is typically used to identify overbought (>70) and oversold (<30) conditions. A reading above 70 may indicate that an asset is overbought and could be due for a pullback, while a reading below 30 may suggest that an asset is oversold and could be due for a bounce.
Stochastic RSI (StochRSI) 14: DA RED LINE
The StochRSI is an oscillator that combines the features of both the Stochastic Oscillator and RSI. It measures the relative position of the RSI within its range over a specific period (e.g., 14 periods). Like the RSI, the StochRSI oscillates between 0 and 100 and is used to identify overbought and oversold conditions. Typically:
A StochRSI above 0.8 may suggest overbought conditions.
A StochRSI below 0.2 may indicate oversold conditions.
Money Flow Index (MFI) 14: DA PURPLE LINE
The MFI is a momentum oscillator that measures the inflow and outflow of money into an asset over a specific period (e.g., 14 periods). It oscillates between 0 and 100 and is used to identify overbought and oversold conditions based on both price and volume. Generally:
An MFI above 80 may indicate overbought conditions.
An MFI below 20 may suggest oversold conditions.
Combining RSI, StochRSI, and MFI:
When combining RSI, StochRSI, and MFI, traders can use the following approach to analyze the market:
Identify Overbought/Oversold Conditions:
Look for confluence between RSI, StochRSI, and MFI readings to identify overbought and oversold conditions.
For example, if RSI > 70, StochRSI > 0.8, and MFI > 80, it may suggest a strong overbought condition, potentially indicating a reversal or pullback.
Confirm Trend Strength:
Use the RSI, StochRSI, and MFI to confirm the strength of a trend.
A rising trend with RSI, StochRSI, and MFI above 50 may suggest strong bullish momentum, while a falling trend with readings below 50 may indicate strong bearish momentum.
Divergence Analysis:
Look for divergences between price and RSI, StochRSI, or MFI to identify potential trend reversals.
For example, if the price makes a higher high, but RSI, StochRSI, or MFI makes a lower high (bearish divergence), it may suggest weakening bullish momentum and potential downside.
Combining RSI, StochRSI, and MFI can offer traders a more holistic view of market momentum, overbought/oversold conditions, and money flow. Backtest it let me know your success.
RSI Exponential Smoothing (Expo)█ Background information
The Relative Strength Index (RSI) and the Exponential Moving Average (EMA) are two popular indicators. Traders use these indicators to understand market trends and predict future price changes. However, traders often wonder which indicator is better: RSI or EMA.
What if these indicators give similar results? To find out, we wanted to study the relationship between RSI and EMA. We focused on a hypothesis: when the RSI goes above 50, it might be similar to the price crossing above a certain length of EMA. Similarly, when the RSI goes below 50, it might be similar to the price crossing below a certain length of EMA.
Our goal was simple: to figure out if there is any connection between RSI and EMA.
Conclusion: Yes, it seems that there is a correlation between RSI and EMA, and this indicator clearly displays that relationship. Read more about the study here:
█ Overview of the indicator
The RSI Exponential Smoothing indicator displays RSI levels with clear overbought and oversold zones, shown as easy-to-understand moving averages, and the RSI 50 line as an EMA. Another excellent feature is the added FIB levels. To activate, open the settings and click on "FIB Bands." These levels act as short-term support and resistance levels which can be used for scalping.
█ Benefits of using this indicator instead of regular RSI
The findings about the Relative Strength Index (RSI) and the Exponential Moving Average (EMA) highlight that both indicators are equally accurate (when it comes to crossings), meaning traders can choose either one without compromising accuracy. This empowers traders to pick the indicator that suits their personal preferences and trading style.
█ How it works
Crossings over/under the value of 50
The EMA line in the indicator acts as the corresponding 50 line in the RSI. When the RSI crosses the value 50 equals when Close crosses the EMA line.
Bouncess from the value 50
In this example, we can see that the EMA line on the chart acts as support/resistance equals when RSI rejects the 50 level.
Overbought and Oversold
The indicator comes with overbought and oversold bands equal when RSI becomes overbought or oversold.
█ How to use
This visual representation helps traders to apply RSI strategies directly on the price chart, potentially making RSI trading easier for traders.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
