OPEN-SOURCE SCRIPT
Naked Nation Relative Strength Index
Full Credit to Bare Naked Crypto for years of research and work on key RSI support/rejection levels for most cryptocurrencies.
Key RSI support/rejections points:
< 36 RSI - Oversold areas (green)
46 RSI (blue)
56 RSI (orange)
65 RSI (red)
>65 RSI - Overbought area
Heavily oversold/overbought ranges will be indicated with highlighted areas similar to traditional RSI indicator.
Note: divergences and trends are easy to spot with RSI key area touches.
For more information on NakedRSI, watch How to NakedRSI at youtube.com/watch?v=Bj8tpCSfjdI&t=3s.
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RSI is momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially RSI, when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements. ( via Tradingview.com)
Key RSI support/rejections points:
< 36 RSI - Oversold areas (green)
46 RSI (blue)
56 RSI (orange)
65 RSI (red)
>65 RSI - Overbought area
Heavily oversold/overbought ranges will be indicated with highlighted areas similar to traditional RSI indicator.
Note: divergences and trends are easy to spot with RSI key area touches.
For more information on NakedRSI, watch How to NakedRSI at youtube.com/watch?v=Bj8tpCSfjdI&t=3s.
_____
RSI is momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially RSI, when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements. ( via Tradingview.com)
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