OPEN-SOURCE SCRIPT

Finnie's RSI with EMA + MFI + Stoch V2

2 950
RSI seams to be one of the most used indicators by far, and that comes because of merit . With that in mind, the goal of this indicator is to expand upon the tradition RSI or Relative Strength Index we all know and love :) I started by adding an EMA crossover. Which gives you, the users, a general idea of when to buy and sell outside of just watching a line go down and up. To take thinks even further, I decided to add options for both Fast and Slow Stochastic oscillators. Adding STOCH brings in another variable when deciding on an entry, technically its a bit hard to explain but in practice it would go something like this: you notice RSI is down around the level 20 mark and RSI is crossing up above it's EMA , which is BULLISH signal, and you're thinking about going long. As a second confirmation you can look at the STOCH rsi , if it's also crossing above the previously spoken EMA that's another BULLISH signal. This process can be repeated once RSI has risen to find an exit.

V2 changes:

-added MFI
-added overbought(yellow)/oversold(red) visual indicator
-removed K stoch in order to clean the indicator up visually, I haven't regretted it since :)

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.