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RSI Buy Sell Signals[RanaAlgo]

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Overview
This Premium RSI with Enhanced Signals builds upon the classic Relative Strength Index by incorporating multiple confirmation filters and visual enhancements to improve signal reliability. The indicator goes beyond basic overbought/oversold levels by adding volume confirmation, trend alignment, and peak detection logic.

Key Features
Enhanced Signal Detection
Peak Strength Filter: Requires RSI movements to meet minimum strength criteria (configurable from 1-5 bars)

Volume Confirmation: Optional volume filter to ensure signals occur with above-average trading activity

Trend Alignment: Optional trend confirmation that checks price position relative to 20-period EMA

Visual Improvements
Dynamic coloring of RSI line (green in oversold, red in overbought)

Customizable reference lines and zones

Clear buy/sell signals with triangle markers

Comprehensive info panel showing current RSI status

Alert Capabilities
Ready-to-use alert conditions for both buy and sell signals

Visual and audible alerts when signals trigger

How It Works
Core RSI Calculation: Uses standard RSI formula with configurable length (default 14)

Signal Generation:

Buy signals require either:

RSI rising from oversold with volume/trend confirmation (when enabled)

Simple crossover above oversold level (when filters disabled)

Sell signals require either:

RSI falling from overbought with volume/trend confirmation

Simple crossunder below overbought level

Additional Filters:

Minimum peak strength prevents weak, insignificant movements from generating signals

Volume filter helps confirm institutional participation

Trend filter aligns signals with broader price direction

Usage Instructions
Apply to any chart timeframe (works best on 1H or higher)

Configure settings in the input panel:

Adjust RSI length if needed

Set overbought/oversold levels (default 70/30)

Enable/disable volume and trend filters

Customize visual elements

Signals appear as triangles below/above the RSI line

Use alerts to get notified of new signals

Differentiation from Standard RSI
This indicator adds several layers of confirmation that aren't present in the basic RSI:

Multi-bar momentum requirement for peaks/troughs

Volume validation option

Trend confirmation option

Smoothed RSI line for cleaner visualization

Comprehensive info panel with current status

The combination of these features helps filter out false signals that commonly occur with traditional RSI implementations.

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.