KINSKI RSI/RSX DivergenceThe Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to analyse overbought or oversold conditions. RSI values range from 0 to 100.
The Relative Strength Index (RSI) is calculated using the following formula: RSI = 100 - 100 / (1 + RS) Where RS = average gain of upward phases during the specified time frame / average loss of downward phases during the specified time frame.
An asset price is considered overbought (due for a correction) if the RSI is above 70 and oversold (due for a recovery) if it is below 30. More extreme values (80/20) are also used to avoid false readings.
In a strong uptrend, the RSI often reaches 70 and above for long periods, and downtrends can remain at 30 or below for long periods.
Divergence detection in RSI is one of the important functions of this indicator. The reason is that an RSI divergence is a more reliable signal than the overbought and oversold indicators themselves. You will get overbought and oversold signals all the time. However, the divergence is a rare event.
In general, RSI divergence means that the RSI indicator is moving in the opposite direction compared to the price. So while the price is moving, the RSI is telling us in advance to expect a change in direction.
Positive RSI divergence
A positive RSI divergence is when the price trend has lower lows and lower highs, while the RSI indicator does the opposite - higher highs and higher lows. The price continues to fall while the RSI indicator begins to rise.
Negative RSI divergence
Negative RSI divergence is the opposite of positive divergence. It applies to uptrends where the price reaches higher highs and higher lows. However, the RSI shows lower highs and lower lows - the price goes up but the RSI goes down. The price closes with higher highs and higher lows, while the RSI indicator does the opposite - lower lows and lower highs, confirming a negative divergence. As a result, there is a sharp decline in the price.
RSX Indicator - Base script: SharkCIA by Jaggedsoft (Linked in the source code)
The RSX is the noise-free variant of the more popular RSI oscillator. Typically, any indicator can be smoothed by applying a moving average. However, a major disadvantage of such a method is that there is a time lag between the indicator and the price. RSX Indicator attempts to do this without signal delay.
What distinguishes this indicator from others of this type?
Display of RSI indicator together/alone with RSX and RSI smoothed
display of the RSI indicator (option: "RSI: On/Off")
display of the RSX indicator (option: "RSX: On/Off")
display of the RSI indicator as smoothed version (option: "RSI Smoothed: On/Off")
offers the possibility to choose between different view variants
many settings for additional information, layout and divergence identification
enables completely new comparison possibilities and insights with the additional RSI variants
Cari dalam skrip untuk "Relative Strength Index (RSI) "
RSI Crossover Signal Companion - Alerts + Visuals🔷 RSI Crossover Signal Companion — Alerts + Visuals
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of recent price movements. It helps traders identify overbought or oversold conditions, possible trend reversals, and momentum strength.
This utility builds on TradingView’s classic Relative Strength Index (RSI) by adding real-time alerts and triangle markers when the RSI crosses its own moving average — a common technique for early momentum detection.
It is designed as a lightweight, visual companion tool for traders using RSI/MA crossover logic in manual or semi-automated strategies.
🔍 Features
✅ Preserves the full original RSI layout, including:
• Gradient fill and overbought/oversold zones
• Standard RSI input settings (length, source, etc.)
• MA smoothing options with user-defined type and length
🔺 Adds visual triangle markers:
🔼 Up triangle when RSI crosses above its MA
🔽 Down triangle when RSI crosses below its MA
📢 Built-in alerts for RSI/MA crosses:
“RSI Crossed Above MA”
“RSI Crossed Below MA”
📈 How to Use
This script is ideal for:
• Spotting early momentum shifts
• Confirming entries or exits in other systems (price action, trendlines, breakouts)
• Building alert-based automation (webhooks, bots, etc.)
Popular use cases:
• Combine with trend indicators like MA200 or MA12
• Use in confluence with price structure and divergence
• Validate breakout moves with momentum confirmation
⚙️ Customization
RSI length, MA length, MA type, and source are fully adjustable
Triangle marker size, shape, and color can be edited under Style
Alerts are pre-built and ready for use
Multi Scanner Plot & Table V1Here's how to interpret each column in the table:
Price vs MAs:
What it shows: Where the current price is relative to the short-term (e.g., 20-period) and long-term (e.g., 50-period) Simple Moving Averages (SMAs) calculated on your current chart's timeframe.
Interpretation:
Above Both (Green background): Price is above both the short and long MAs. Generally considered a bullish sign for the current trend.
Below Both (Red background): Price is below both MAs. Generally considered a bearish sign.
Mixed (Gray background): Price is between the two MAs (e.g., above the short but below the long, or vice-versa). Indicates indecision or a potential trend change.
RSI Value:
What it shows: The actual numerical value of the Relative Strength Index (RSI) calculated on your current chart's timeframe.
Interpretation: Just the raw RSI number (e.g., 65.32). The background is always gray. You compare this value to standard overbought/oversold levels (like 70/30) or the levels defined in the script's inputs.
RSI Status:
What it shows: Interprets the RSI Value based on the Overbought/Oversold levels set in the script's inputs (default 70/30). Calculated on your current chart's timeframe.
Interpretation:
Overbought (Red background): RSI is above the overbought level (e.g., > 70). Suggests the asset might be due for a pullback or reversal downwards. Red indicates a potentially bearish condition.
Oversold (Green background): RSI is below the oversold level (e.g., < 30). Suggests the asset might be due for a bounce or reversal upwards. Green indicates a potentially bullish condition.
Neutral (Gray background): RSI is between the oversold and overbought levels.
Last Sig Price:
What it shows: The price level where the last "SIG NOW" Buy or Sell signal occurred on your current chart's timeframe.
Interpretation: Helps you see the entry price of the most recent short-term signal generated by this script. The background color matches the signal type: Green for the last Buy signal, Red for the last Sell signal. N/A if no signal has occurred yet.
SIG NOW:
What it shows: This is the main short-term signal generated by the script based on conditions on your current chart's timeframe. It combines the "Price vs MAs" status and specific RSI conditions (price must be above/below both MAs and RSI must be within a certain range defined in the inputs).
Interpretation:
BUY (Green background): The specific buy conditions are met right now. (Price above both MAs AND RSI is strong but not necessarily overbought).
SELL (Red background): The specific sell conditions are met right now. (Price below both MAs AND RSI is weak but not necessarily oversold).
NEUTRAL (Gray background): Neither the Buy nor the Sell conditions are currently met.
ALERT:
What it shows: Flags unusual volume activity on the current bar compared to the recent average volume (calculated on your current chart's timeframe).
Interpretation:
SPIKE (Yellow background, black text): Current volume is significantly higher than the recent average (defined by the Volume Spike Multiplier). Can indicate strong interest or a potential climax.
DUMP (Purple background): Current volume is significantly lower than the recent average (defined by the Volume Dump Multiplier). Can indicate fading interest.
NONE (Gray background): Volume is within the normal range for the lookback period.
SD$:
What it shows: The price level where the last Volume Spike or Dump occurred on your current chart's timeframe.
Interpretation: Shows the price associated with the most recent significant volume event. The background color indicates the type of the last event: Green if the last event was a Spike, Red if the last event was a Dump. N/A if no Spike/Dump has occurred yet.
BB Value (%B):
What it shows: This relates to Bollinger Bands, but specifically calculated on a Higher Timeframe (HTF) that you can set in the inputs (e.g., Daily BBs while viewing an Hourly chart). It shows the Bollinger Band Percent B (%B) value for that HTF. %B measures where the HTF closing price is relative to the HTF upper and lower bands.
Interpretation:
Value > 1: HTF price closed above the HTF upper Bollinger Band.
Value < 0: HTF price closed below the HTF lower Bollinger Band.
Value between 0 and 1: HTF price closed within the HTF Bollinger Bands (e.g., 0.5 is exactly on the middle band).
The background is always gray.
LTS (Long Term Signal):
What it shows: A signal derived only from the Higher Timeframe (HTF) Bollinger Bands.
Interpretation:
BUY (Green background): The HTF price closed above the HTF upper Bollinger Band (see BB Value > 1). Considered a strong bullish signal from the higher timeframe perspective.
SELL (Red background): The HTF price closed below the HTF lower Bollinger Band (see BB Value < 0). Considered a strong bearish signal from the higher timeframe perspective.
NEUTRAL (Gray background): The HTF price closed within the HTF Bollinger Bands.
How to Understand Bollinger Bands and Signals in this Context:
Bollinger Bands are primarily used for the Long Term Signal (LTS) column. This script calculates BBs on a higher timeframe (you choose which one, or it defaults to the chart's timeframe if left blank).
The "LTS" signal triggers:
A BUY when the price on that higher timeframe closes above its upper Bollinger Band. This often indicates strong momentum or a potential breakout.
A SELL when the price on that higher timeframe closes below its lower Bollinger Band. This often indicates strong negative momentum or a potential breakdown.
The "BB Value" column gives you the raw %B number from that same higher timeframe, showing you exactly where the price is relative to the bands (is it just barely above/below, or way outside?).
The script does not directly use Bollinger Bands from the current chart timeframe for the "SIG NOW" or other table signals. The main short-term signals ("SIG NOW") rely on Moving Averages and RSI on the current timeframe. The LTS provides a longer-term perspective using HTF Bollinger Bands.
In summary: Look at the table to quickly gauge:
Short-term trend (Price vs MAs).
Short-term momentum (RSI Status, SIG NOW).
Recent short-term entry points (Last Sig Price).
Current volume anomalies (ALERT).
Long-term strength/weakness based on HTF Bollinger Bands (LTS, BB Value).
Combine these pieces of information to get a more rounded view of the current market conditions according to this specific script's logic.
Frozen Bias Zones – Sentiment Lock-insOverview
The Frozen Bias Zones indicator visualizes market sentiment lock-ins using a combination of RSI, MACD, and OBV. It creates "bias zones" that indicate whether the market is in a sustained bullish or bearish phase. These zones are then highlighted on the chart, helping traders spot when the market is locked in a bias. The script also detects breakout events from these zones and marks them with clear labels for easier decision-making.
Features
Multi-Indicator Sentiment Analysis: Combines RSI, MACD, and OBV to detect synchronized bullish or bearish sentiment.
Frozen Bias Zones: Identifies and visually represents zones where the market has remained in a particular sentiment (bullish or bearish) for a defined period.
Breakout Alerts: Displays labels to indicate when the price breaks out of the established bias zone.
Customizable Inputs: Adjust the zone duration, RSI, MACD, and breakout label visibility.
Input Parameters
Bias Duration (biasLength)
The minimum number of candles the market must stay in a specific sentiment to consider it a "Frozen Bias Zone".
Default: 5 candles.
RSI Period (rsiPeriod)
Period for the Relative Strength Index (RSI) calculation.
Default: 14 periods.
MACD Settings
MACD Fast (macdFast): The fast-moving average period for the MACD calculation.
Default: 12.
MACD Slow (macdSlow): The slow-moving average period for the MACD calculation.
Default: 26.
MACD Signal (macdSig): The signal line period for MACD.
Default: 9.
Show Break Label (showBreakLabel)
Toggle to show labels when the price breaks out of the bias zone.
Default: True (shows label).
Bias Zone Colors
Bullish Bias Color (bullColor): The color for bullish zones (light green).
Bearish Bias Color (bearColor): The color for bearish zones (light red).
How It Works
This indicator analyzes three key market metrics to determine whether the market is in a bullish or bearish phase:
RSI (Relative Strength Index)
Measures the speed and change of price movements. RSI > 50 indicates a bullish phase, while RSI < 50 indicates a bearish phase.
MACD (Moving Average Convergence Divergence)
Measures the relationship between two moving averages of the price. A positive MACD histogram indicates bullish momentum, while a negative histogram indicates bearish momentum.
OBV (On-Balance Volume)
Uses volume flow to determine if a trend is likely to continue. A rising OBV indicates bullish accumulation, while a falling OBV indicates bearish distribution.
Bias Zone Detection
The market sentiment is considered bullish if all three indicators (RSI, MACD, and OBV) are bullish, and bearish if all three indicators are bearish.
Bullish Zone: A zone is created when the market sentiment remains bullish for the duration of the specified biasLength.
Bearish Zone: A zone is created when the market sentiment remains bearish for the duration of the specified biasLength.
These bias zones are visually represented on the chart as colored boxes (green for bullish, red for bearish).
Breakout Detection
The script automatically detects when the market exits a bias zone. If the price moves outside the bounds of the established zone (either up or down), the script will display one of the following labels:
Bias Break (Up): Indicates that the price has broken upwards out of the zone (with a green label).
Bias Break (Down): Indicates that the price has broken downwards out of the zone (with a red label).
These labels help traders easily identify potential breakout points.
Example Use Case
Bullish Market Conditions: If the RSI is above 50, the MACD histogram is positive, and OBV is increasing, the script will highlight a green bias zone. Traders can watch for potential bullish breakouts or trend continuation after the zone ends.
Bearish Market Conditions: If the RSI is below 50, the MACD histogram is negative, and OBV is decreasing, the script will highlight a red bias zone. Traders can look for potential bearish breakouts when the zone ends.
Conclusion
The Frozen Bias Zones indicator is a powerful tool for traders looking to visualize prolonged market sentiment, whether bullish or bearish. By combining RSI, MACD, and OBV, it helps traders spot when the market is "locked in" to a bias. The breakout labels make it easier to take action when the price moves outside of the established zone, potentially signaling the start of a new trend.
Instructions
To use this script:
Add the Frozen Bias Zones indicator to your TradingView chart.
Adjust the input parameters to suit your trading strategy.
Observe the colored bias zones on your chart, along with breakout labels, to make informed decisions on trend continuation or reversal.
AllMA Trend Radar [trade_lexx]📈 AllMA Trend Radar is your universal trend analysis tool!
📊 What is AllMA Trend Radar?
AllMA Trend Radar is a powerful indicator that uses various types of Moving Averages (MA) to analyze trends and generate trading signals. The indicator allows you to choose from more than 30 different types of moving averages and adjust their parameters to suit your trading style.
💡 The main components of the indicator
📈 Fast and slow moving averages
The indicator uses two main lines:
- Fast MA (blue line): reacts faster to price changes
- Slow MA (red line): smoother, reflects a long-term trend
The combined use of fast and slow MA allows you to get trend confirmation and entry/exit points from the market.
🔄 Wide range of moving averages
There are more than 30 types of moving averages at your disposal:
- SMA: Simple moving average
- EMA: Exponential moving average
- WMA: Weighted moving average
- DEMA: double exponential MA
- TEMA: triple exponential MA
- HMA: Hull Moving Average
- LSMA: Moving average of least squares
- JMA: Eureka Moving Average
- ALMA: Arnaud Legoux Moving Average
- ZLEMA: moving average with zero delay
- And many others!
🔍 Indicator signals
1️⃣ Fast 🆚 Slow MA signals (intersection and ratio of fast and slow MA)
Up/Down signals (intersection)
- Buy (Up) signal:
- What happens: the fast MA crosses the slow MA from bottom to top
- What does the green triangle with the "Buy" label under the candle look
like - What does it mean: a likely upward trend reversal or an uptrend strengthening
- Sell signal (Down):
- What happens: the fast MA crosses the slow MA from top to bottom
- What does it look like: a red triangle with a "Sell" mark above the candle
- What does it mean: a likely downtrend reversal or an increase in the downtrend
Greater/Less signals (ratio)
- Buy signal (Greater):
- What happens: the fast MA becomes higher than the slow MA
- What does it look like: a green triangle with a "Buy" label under the candle
- What does it mean: the formation or confirmation of an uptrend
- Sell signal (Less):
- What happens: the fast MA becomes lower than the slow MA
- What does it look like: a red triangle with a "Sell" mark above the candle
- What does it mean: the formation or confirmation of a downtrend
2️⃣ Signals ⚡️ Fast MA (fast MA and price)
Up/Down signals (intersection)
- Buy signal (Up Fast):
- What happens: the price crosses the fast MA from bottom to top
- What does it look like: a green triangle with a "Buy" label under the candle
- What does it mean: a short-term price growth signal
- Sell signal (Down Fast):
- What happens: the price crosses the fast MA from top to bottom
- What does it look like: a red triangle with a "Sell" label above the candle
- What does it mean: a short-term price drop signal
Greater/Less signals (ratio)
- Buy signal (Greater Fast):
- What happens: the price is getting higher than the fast MA
- What does it look like: a green triangle with a "Buy" label under the candle
- What does it mean: the price is above the fast MA, which indicates an upward movement
- Sell signal (Less Fast):
- What happens: the price is getting lower than the fast MA
- What does it look like: a red triangle with a "Sell" mark above the candle
- What does it mean: the price is under the fast MA, which indicates a downward movement
3️⃣ Signals 🐢 Slow MA (slow MA and price)
Up/Down signals (intersection)
- Buy signal (Up Slow):
- What happens: the price crosses the slow MA from bottom to top
- What does it look like: a green triangle with a "Buy" label under the candle
- What does it mean: a potential medium-term upward trend reversal
- Sell signal (Down Slow):
- What happens: the price crosses the slow MA from top to bottom
- What does it look like: a red triangle with a "Sell" label above the candle
- What does it mean: a potential medium-term downward trend reversal
Greater/Less signals (ratio)
- Buy signal (Greater Slow):
- What happens: the price is getting above the slow MA
- What does it look like: a green triangle with a "Buy" label under the candle
- What does it mean: the price is above the slow MA, which indicates a strong upward movement
- Sell signal (Less Slow):
- What is happening: the price is getting below the slow MA
- What does it look like: a red triangle with a "Sell" mark above the candle
- What does it mean: the price is under the slow MA, which indicates a strong downward movement
🛠 Filters to filter out false signals
1️⃣ Minimum distance between the signals
- What it does: sets the minimum number of candles between signals of the same type
- Why it is needed: it prevents the appearance of too frequent signals, especially during periods of high volatility
- How to set it up: Set a different value for each signal type (default: 3-5 bars)
- Example: if the value is 3 for Up/Down signals, after the buy signal appears, the next buy signal may appear no earlier than 3 bars later
2️⃣ Advanced indicator filters
🔍 RSI Filter
- What it does: Checks the Relative Strength Index (RSI) value before generating a signal
- Why it is needed: it helps to avoid countertrend entries and catch reversal points
- How to set up:
- For buy signals (🔋 Buy): set the RSI range, usually in the oversold zone (for example, 1-30)
- For sell signals (🪫 Sell): set the RSI range, usually in the overbought zone (for example, 70-100)
- Example: if the RSI = 25 (in the range 1-30), the buy signal will be confirmed
📊 MFI Filter (Cash Flow Index)
- What it does: analyzes volumes and the direction of price movement
- Why it is needed: confirms signals with data on the activity of cash flows
- How to set up:
- For buy signals (🔋 Buy): set the MFI range in the oversold zone (for example, 1-25)
- For sell signals (🪫 Sell): set the MFI range in the overbought zone (for example, 75-100)
- Example: if MFI = 80 (in the range of 75-100), the sell signal will be confirmed
📈 Stochastic Filter
- What it does: analyzes the position of the current price relative to the price range
- Why it is needed: confirms signals based on overbought/oversold conditions
- How to configure:
- You can configure the K Length, D Length and Smoothing parameters
- For buy signals (🔋 Buy): set the stochastic range in the oversold zone (for example, 1-20)
- For sell signals (🪫 Sell): set the stochastic range in the overbought zone (for example, 80-100)
- Example: if stochastic = 15 (is in the range of 1-20), the buy signal will be confirmed
🔌 Connecting to trading strategies
The indicator provides various connectors to connect to your trading strategies.:
1️⃣ Individual connectors for each type of signal
- 🔌Fast vs Slow Up/Down MA Signal🔌: signals for the intersection of fast and slow MA
- 🔌Fast vs Slow Greater/Less MA Signal🔌: signals of the ratio of fast and slow MA
- 🔌Fast Up/Down MA Signal🔌: signals of the intersection of price and fast MA
- 🔌Fast Greater/Less MA Signal🔌: signals of the ratio of price and fast MA
- 🔌Slow Up/Down MA Signal🔌: signals of the intersection of price and slow MA
- 🔌Slow Greater/Less MA Signal🔌: Price versus slow MA signals
2️⃣ Combined connectors
- 🔌Combined Up/Down MA Signal🔌: combines all the crossing signals (Up/Down)
- 🔌Combined Greater/Less MA Signal🔌: combines all the signals of the ratio (Greater/Less)
- 🔌Combined All MA Signals🔌: combines all signals (Up/Down and Greater/Less)
❗️ All connectors return values:
- 1: buy signal
- -1: sell signal
- 0: no signal
📚 How to start using AllMA Trend Radar
1️⃣ Selection of types of moving averages
- Add an indicator to the chart
- Select the type and period for the fast MA (default: DEMA with a period of 14)
- Select the type and period for the slow MA (default: SMA with a period of 14)
- Experiment with different types of MA to find the best combination for your trading style
2️⃣ Signal settings
- Turn on the desired signal types (Up/Down, Greater/Less)
- Set the minimum distance between the signals
- Activate and configure the necessary filters (RSI, MFI, Stochastic)
3️⃣ Checking on historical data
- Analyze how the indicator works based on historical data
- Pay attention to the accuracy of the signals and the presence of false alarms
- Adjust the settings if necessary
4️⃣ Introduction to the trading strategy
- Decide which signals will be used to enter the position.
- Determine which signals will be used to exit the position.
- Connect the indicator to your trading strategy through the appropriate connectors
🌟 Practical application examples
Scalping strategy
- Fast MA: TEMA with a period of 8
- Slow MA: EMA with a period of 21
- Active signals: Fast MA Up/Down
- Filters: RSI (range 1-40 for purchases, 60-100 for sales)
- Signal spacing: 3 bars
Strategy for day trading
- Fast MA: TEMA with a period of 10
- Slow MA: SMA with a period of 20
- Active signals: Fast MA Up/Down and Fast vs Slow Greater/Less
- Filters: MFI (range 1-25 for purchases, 75-100 for sales)
- Signal spacing: 5 bars
Swing Trading Strategy
- Fast MA: DEMA with a period of 14
- Slow MA: VWMA with a period of 30
- Active signals: Fast vs Slow Up/Down and Slow MA Greater/Less
- Filters: Stochastic (range 1-20 for purchases, 80-100 for sales)
- Signal spacing: 8 bars
A strategy for positional trading
- Fast MA: HMA with a period of 21
- Slow MA: SMA with a period of 50
- Active signals: Slow MA Up/Down and Fast vs Slow Greater/Less
- Filters: RSI and MFI at the same time
- The distance between the signals: 10 bars
💡 Tips for using AllMA Trend Radar
1. Select the types of MA for market conditions:
- For trending markets: DEMA, TEMA, HMA (fast MA)
- For sideways markets: SMA, WMA, VWMA (smoothed MA)
- For volatile markets: KAMA, AMA, VAMA (adaptive MA)
2. Combine different types of signals:
- Up/Down signals work better when moving from a sideways trend to a directional
one - Greater/Less signals are optimal for fixing a stable trend
3. Use filters effectively:
- The RSI filter works great in trending markets
- MFI filter helps to confirm the strength of volume movement
- Stochastic filter works well in lateral ranges
4. Adjust the minimum distance between the signals:
- Small values (2-3 bars) for short-term trading
- Average values (5-8 bars) for medium-term trading
- Large values (10+ bars) for long-term trading
5. Use combination connectors:
- For more reliable signals, connect the indicator through the combined connectors
💰 With the AllMA Trend Radar indicator, you get a universal trend analysis tool that can be customized for any trading style and timeframe. The combination of different types of moving averages and advanced filters allows you to significantly improve the accuracy of signals and the effectiveness of your trading strategy!
Mogwai Method with RSI and EMA - BTCUSD 15mThis is a custom TradingView indicator designed for trading Bitcoin (BTCUSD) on a 15-minute timeframe. It’s based on the Mogwai Method—a mean-reversion strategy—enhanced with the Relative Strength Index (RSI) for momentum confirmation. The indicator generates buy and sell signals, visualized as green and red triangle arrows on the chart, to help identify potential entry and exit points in the volatile cryptocurrency market.
Components
Bollinger Bands (BB):
Purpose: Identifies overextended price movements, signaling potential reversions to the mean.
Parameters:
Length: 20 periods (standard for mean-reversion).
Multiplier: 2.2 (slightly wider than the default 2.0 to suit BTCUSD’s volatility).
Role:
Buy signal when price drops below the lower band (oversold).
Sell signal when price rises above the upper band (overbought).
Relative Strength Index (RSI):
Purpose: Confirms momentum to filter out false signals from Bollinger Bands.
Parameters:
Length: 14 periods (classic setting, effective for crypto).
Overbought Level: 70 (price may be overextended upward).
Oversold Level: 30 (price may be overextended downward).
Role:
Buy signal requires RSI < 30 (oversold).
Sell signal requires RSI > 70 (overbought).
Exponential Moving Averages (EMAs) (Plotted but not currently in signal logic):
Purpose: Provides trend context (included in the script for visualization, optional for signal filtering).
Parameters:
Fast EMA: 9 periods (short-term trend).
Slow EMA: 50 periods (longer-term trend).
Role: Can be re-added to filter signals (e.g., buy only when Fast EMA > Slow EMA).
Signals (Triangles):
Buy Signal: Green upward triangle below the bar when price is below the lower Bollinger Band and RSI is below 30.
Sell Signal: Red downward triangle above the bar when price is above the upper Bollinger Band and RSI is above 70.
How It Works
The indicator combines Bollinger Bands and RSI to spot mean-reversion opportunities:
Buy Condition: Price breaks below the lower Bollinger Band (indicating oversold conditions), and RSI confirms this with a reading below 30.
Sell Condition: Price breaks above the upper Bollinger Band (indicating overbought conditions), and RSI confirms this with a reading above 70.
The strategy assumes that extreme price movements in BTCUSD will often revert to the mean, especially in choppy or ranging markets.
Visual Elements
Green Upward Triangles: Appear below the candlestick to indicate a buy signal.
Red Downward Triangles: Appear above the candlestick to indicate a sell signal.
Bollinger Bands: Gray lines (upper, middle, lower) plotted for reference.
EMAs: Blue (Fast) and Orange (Slow) lines for trend visualization.
How to Use the Indicator
Setup
Open TradingView:
Log into TradingView and select a BTCUSD chart from a supported exchange (e.g., Binance, Coinbase, Bitfinex).
Set Timeframe:
Switch the chart to a 15-minute timeframe (15m).
Add the Indicator:
Open the Pine Editor (bottom panel in TradingView).
Copy and paste the script provided.
Click “Add to Chart” to apply it.
Verify Display:
You should see Bollinger Bands (gray), Fast EMA (blue), Slow EMA (orange), and buy/sell triangles when conditions are met.
Trading Guidelines
Buy Signal (Green Triangle Below Bar):
What It Means: Price is oversold, potentially ready to bounce back toward the Bollinger Band middle line.
Action:
Enter a long position (buy BTCUSD).
Set a take-profit near the middle Bollinger Band (bb_middle) or a resistance level.
Place a stop-loss 1-2% below the entry (or based on ATR, e.g., ta.atr(14) * 2).
Best Context: Works well in ranging markets; avoid during strong downtrends.
Sell Signal (Red Triangle Above Bar):
What It Means: Price is overbought, potentially ready to drop back toward the middle line.
Action:
Enter a short position (sell BTCUSD) or exit a long position.
Set a take-profit near the middle Bollinger Band or a support level.
Place a stop-loss 1-2% above the entry.
Best Context: Effective in ranging markets; avoid during strong uptrends.
Trend Filter (Optional):
To reduce false signals in trending markets, you can modify the script:
Add and ema_fast > ema_slow to the buy condition (only buy in uptrends).
Add and ema_fast < ema_slow to the sell condition (only sell in downtrends).
Check the Fast EMA (blue) vs. Slow EMA (orange) alignment visually.
Tips for BTCUSD on 15-Minute Charts
Volatility: BTCUSD can be erratic. If signals are too frequent, increase bb_mult (e.g., to 2.5) or adjust RSI levels (e.g., 75/25).
Confirmation: Use volume spikes or candlestick patterns (e.g., doji, engulfing) to confirm signals.
Time of Day: Mean-reversion works best during low-volume periods (e.g., Asian session in crypto).
Backtesting: Use TradingView’s Strategy Tester (convert to a strategy by adding entry/exit logic) to evaluate performance with historical BTCUSD data up to March 13, 2025.
Risk Management
Position Size: Risk no more than 1-2% of your account per trade.
Stop Losses: Always use stops to protect against BTCUSD’s sudden moves.
Avoid Overtrading: Wait for clear signals; don’t force trades in choppy or unclear conditions.
Example Scenario
Chart: BTCUSD, 15-minute timeframe.
Buy Signal: Price drops to $58,000, below the lower Bollinger Band, RSI at 28. A green triangle appears.
Action: Buy at $58,000, target $59,000 (middle BB), stop at $57,500.
Sell Signal: Price rises to $60,500, above the upper Bollinger Band, RSI at 72. A red triangle appears.
Action: Sell at $60,500, target $59,500 (middle BB), stop at $61,000.
This indicator is tailored for mean-reversion trading on BTCUSD. Let me know if you’d like to tweak it further (e.g., add filters, alerts, or alternative indicators)!
RSI with Bollinger Bands and Buy/Sell SignalsPurpose:
This indicator combines the Relative Strength Index (RSI) with Bollinger Bands to identify overbought and oversold conditions in the market. It also generates buy and sell signals based on the interaction between the RSI and the Bollinger Bands. It is particularly useful for traders looking for opportunities in volatile or trending markets.
How It Works:
RSI (Relative Strength Index):
The RSI measures the magnitude of recent price changes to evaluate whether an asset is overbought (values > 70) or oversold (values < 30).
In this indicator, horizontal lines at levels 70 (overbought) and 30 (oversold) are used as reference points.
Bollinger Bands:
Bollinger Bands are calculated around a smoothed moving average of the RSI. The upper band represents dynamic overbought levels, while the lower band indicates dynamic oversold levels.
These bands automatically adjust their width based on the volatility of the RSI, allowing them to adapt to different market conditions.
Buy and Sell Signals:
Buy Signal: A buy signal is generated when the RSI exceeds both the upper Bollinger Band and the overbought level (70). This suggests that the asset is in an extreme bullish phase.
Sell Signal: A sell signal is generated when the RSI falls below both the lower Bollinger Band and the oversold level (30). This suggests that the asset is in an extreme bearish phase.
Alerts:
The indicator includes automatic alerts to notify you when buy or sell signals are generated. This allows traders to act quickly on new opportunities.
Best Practices:
Confirmation in Lower Timeframes:
Although this indicator is powerful, it is recommended to confirm signals in lower timeframes before making trading decisions. For example:
If you receive a buy signal on a 4-hour chart, check if the RSI and Bollinger Bands on lower timeframes (such as 1 hour or 15 minutes) also show bullish signals.
This reduces the risk of false positives and increases the accuracy of your entries.
Use in Trends:
This indicator works best in markets with clear trends. In sideways or low-volatility markets, signals may be less reliable due to the lack of directional momentum.
Risk Management:
Always use stop-loss and take-profit to protect your positions. Buy and sell signals are just one tool for analysis; they do not guarantee results.
Combination with Other Indicators:
To improve accuracy, consider combining this indicator with others, such as MACD, Stochastic Oscillator, or Japanese candlestick patterns. This can provide additional confirmation before opening a position.
Summary:
The RSI + Bollinger Bands with Buy/Sell Signals indicator is an advanced tool designed to identify entry and exit points in the market based on extreme overbought and oversold conditions. However, to maximize its effectiveness, it is crucial to confirm signals in lower timeframes and use it in combination with other technical analysis tools. With proper risk management and careful interpretation of signals, this indicator can be a valuable ally in your trading strategy.
AI indicatorThis script is a trading indicator designed for future trading signals on the TradingView platform. It uses a combination of the Relative Strength Index (RSI) and a Simple Moving Average (SMA) to generate buy and sell signals. Here's a breakdown of its components and logic:
1. Inputs
The script includes configurable inputs to make it adaptable for different market conditions:
RSI Length: Determines the number of periods for calculating RSI. Default is 14.
RSI Overbought Level: Signals when RSI is above this level (default 70), indicating potential overbought conditions.
RSI Oversold Level: Signals when RSI is below this level (default 30), indicating potential oversold conditions.
Moving Average Length: Defines the SMA length used to confirm price trends (default 50).
2. Indicators Used
RSI (Relative Strength Index):
Measures the speed and change of price movements.
A value above 70 typically indicates overbought conditions.
A value below 30 typically indicates oversold conditions.
SMA (Simple Moving Average):
Used to smooth price data and identify trends.
Price above the SMA suggests an uptrend, while price below suggests a downtrend.
3. Buy and Sell Signal Logic
Buy Condition:
The RSI value is below the oversold level (e.g., 30), indicating the market might be undervalued.
The current price is above the SMA, confirming an uptrend.
Sell Condition:
The RSI value is above the overbought level (e.g., 70), indicating the market might be overvalued.
The current price is below the SMA, confirming a downtrend.
These conditions ensure that trades align with market trends, reducing false signals.
4. Visual Features
Buy Signals: Displayed as green labels (plotshape) below the price bars when the buy condition is met.
Sell Signals: Displayed as red labels (plotshape) above the price bars when the sell condition is met.
Moving Average Line: A blue line (plot) added to the chart to visualize the SMA trend.
5. How It Works
When the buy condition is true (RSI < 30 and price > SMA), a green label appears below the corresponding price bar.
When the sell condition is true (RSI > 70 and price < SMA), a red label appears above the corresponding price bar.
The blue SMA line helps to visualize the overall trend and acts as confirmation for signals.
6. Advantages
Combines Momentum and Trend Analysis:
RSI identifies overbought/oversold conditions.
SMA confirms whether the market is trending up or down.
Simple Yet Effective:
Reduces noise by using well-established indicators.
Easy to interpret for beginners and experienced traders alike.
Customizable:
Parameters like RSI length, oversold/overbought levels, and SMA length can be adjusted to fit different assets or timeframes.
7. Limitations
Lagging Indicator: SMA is a lagging indicator, so it may not capture rapid market reversals quickly.
Not Foolproof: No trading indicator can guarantee 100% accuracy. False signals can occur in choppy or sideways markets.
Needs Volume Confirmation: The script does not consider trading volume, which could enhance signal reliability.
8. How to Use It
Copy the script into TradingView's Pine Editor.
Save and add it to your chart.
Adjust the RSI and SMA parameters to suit your preferred asset and timeframe.
Look for buy signals (green labels) in uptrends and sell signals (red labels) in downtrends.
Advanced Multi-Timeframe Trend DetectorThis script is designed to provide a multi-timeframe trend analysis, combining moving averages (MAs) and the Relative Strength Index (RSI) to determine market direction across different timeframes. Here's a breakdown of what the script does:
Key Components of the Script
Inputs:
Moving Averages: Short and long moving average lengths (9 and 21 periods).
ATR and RSI Lengths: ATR (Average True Range) and RSI (Relative Strength Index) lengths set to 14 periods.
RSI Levels: Overbought and oversold levels for the RSI set to 70 and 30, respectively.
Trend Determination:
A function called trendDirection evaluates the trend based on the closing prices of the current and previous periods, as well as the RSI value.
It classifies the trend as "Up", "Down", or "Sideways" based on the conditions:
Up: Current close is higher than the previous close and RSI is below the overbought level.
Down: Current close is lower than the previous close and RSI is above the oversold level.
Sideways: If neither condition is met.
Table Creation:
A table is created at the bottom right of the chart to display the trend for different timeframes (5m, 15m, 60m, 240m, and Daily).
The table is initialized with headers and then populated with the trend results for each timeframe.
Calculating Trends for Each Timeframe:
The script fetches the current and previous close prices for each timeframe using request.security().
It calculates the RSI for each timeframe and then calls the trendDirection function to determine the trend.
Displaying Trends:
The results are displayed in a table format, with each timeframe and its corresponding trend.
Summary
Overall, this script provides a concise way to visualize market trends across multiple timeframes, using MAs and RSI to offer a more nuanced view of potential market movements. This can help traders make more informed decisions based on the prevailing trends.
Fisher Transform on RSIOverview
The Fisher Transform on RSI indicator combines the Relative Strength Index (RSI) with the Fisher Transform to offer a refined tool for identifying market turning points and trends. By applying the Fisher Transform to the RSI, this indicator converts RSI values into a Gaussian normal distribution, enhancing the precision of detecting overbought and oversold conditions. This method provides a clearer and more accurate identification of potential market reversals than the standard RSI.
Key/Unique Features
Fisher Transform Applied to RSI : Transforms RSI values into a Gaussian normal distribution, improving the detection of overbought and oversold conditions.
Smoothing : Applies additional smoothing to the Fisher Transform, reducing noise and providing clearer signals.
Signal Line : Includes a signal line to identify crossover points, indicating potential buy or sell signals.
Custom Alerts : Built-in alert conditions for bullish and bearish crossovers, keeping traders informed of significant market movements.
Visual Enhancements : Background color changes based on crossover conditions, offering immediate visual cues for potential trading opportunities.
How It Works
RSI Calculation : The indicator calculates the Relative Strength Index (RSI) based on the selected source and period length.
Normalization : The RSI values are normalized to fit within a range of -1 to 1, which is essential for the Fisher Transform.
Fisher Transform : The normalized RSI values undergo the Fisher Transform, converting them into a Gaussian normal distribution.
Smoothing : The transformed values are smoothed using a simple moving average to reduce noise and provide more reliable signals.
Signal Line : A signal line, which is a simple moving average of the smoothed Fisher Transform, is plotted to identify crossover points.
Alerts and Visuals : Custom alert conditions are set for bullish and bearish crossovers, and the background color changes to indicate these conditions.
Usage Instructions
Trend Identification : Use the Fisher Transform on RSI to identify overbought and oversold conditions with enhanced precision, aiding in spotting potential trend reversals.
Trade Signals : Monitor the crossovers between the smoothed Fisher Transform and the signal line. A bullish crossover suggests a potential buying opportunity, while a bearish crossover indicates a potential selling opportunity.
Alerts : Set custom alerts based on the built-in conditions to receive notifications when important crossover events occur, ensuring you never miss a trading opportunity.
Visual Cues : Utilize the background color changes to quickly identify bullish (green) and bearish (red) conditions, providing immediate visual feedback on market sentiment.
Complementary Analysis : Combine this indicator with other technical analysis tools and indicators to enhance your overall trading strategy and make more informed decisions.
RSI Trail [UAlgo]The RSI Trail indicator is a technical analysis tool designed to assist traders in making informed decisions by utilizing the Relative Strength Index (RSI) and various moving average calculations. This indicator dynamically plots support and resistance levels based on RSI values, providing visual cues for potential bullish and bearish signals. The inclusion of a trailing stop mechanism allows traders to adapt to market volatility, ensuring optimal entry and exit points.
🔶 Key Features
Multiple Moving Average Types: Choose from Simple Moving Average (SMA), Exponential Moving Average (EMA), Weighted Moving Average (WMA), Running Moving Average (RMA), and McGinley Dynamic for diverse analytical approaches.
Configurable RSI Bounds: Tailor the RSI lower and upper bounds to your specific trading preferences, with default settings at 40 and 60.
Signals: The indicator determines bullish and bearish market states and plots corresponding signals on the chart.
Customizable Visualization: Options to display the midline and color candles based on market state enhance visual analysis.
Alerts: Integrated alert conditions notify you of bullish and bearish signals.
🔶 Calculations
The RSI Trail indicator calculates dynamic support and resistance levels using a combination of moving averages and the Relative Strength Index (RSI). It starts by computing a chosen moving average (SMA, EMA, WMA, RMA, or McGinley) over a period of 27 using the typical price (ohlc4).
The indicator then defines upper and lower bounds based on customizable RSI levels (default 40 and 60) and adjusts these bounds using the Average True Range (ATR) to account for market volatility. The upper bound is calculated by adding a volatility-adjusted value to the moving average, while the lower bound is found by subtracting this value. Bullish signals occur when the price crosses above the upper bound, and bearish signals when it falls below the lower bound.
The RSI Trail indicator also can be used to identify pullback opportunities. When the price high/low crosses above/below the calculated upper/lower bound, it indicates a potential pullback, suggesting a favorable point to enter a trade during a pullback.
🔶 Disclaimer
This indicator is for informational purposes only and should not be considered financial advice.
Always conduct your own research and due diligence before making any trading decisions. Past performance is not necessarily indicative of future results.
Reversal Zones with SignalsThe "Reversal Zones with Signals" indicator is an advanced technical analysis tool designed to help traders identify potential market reversal points. By integrating Relative Strength Index (RSI), moving averages, and swing high/low detection, this indicator provides traders with clear visual cues for potential buy and sell opportunities.
Key Features and Benefits
Integration of Multiple Technical Analysis Tools:
The indicator seamlessly combines RSI, moving averages, and swing high/low detection. This multi-faceted approach enhances the reliability of the signals by confirming potential reversals through different technical analysis perspectives.
Customizable Parameters:
Users can adjust the sensitivity of the moving averages, the RSI overbought and oversold levels, and the length of the reversal zones. This flexibility allows traders to tailor the indicator to fit their specific trading strategies and market conditions.
Clear Visual Signals:
Buy and sell signals are plotted directly on the chart as easily recognizable green and red labels. This visual clarity simplifies the process of identifying potential entry and exit points, enabling traders to act quickly and decisively.
Reversal Zones:
The indicator plots reversal zones based on swing highs and lows in conjunction with RSI conditions. Green lines represent potential support levels (zone bottoms), while red lines represent potential resistance levels (zone tops). These zones provide traders with clear areas where price reversals are likely to occur.
Automated Alerts:
Custom alerts can be set for both buy and sell signals, providing real-time notifications when potential trading opportunities arise. This feature ensures that traders do not miss critical market moves.
How It Works
RSI Calculation:
The Relative Strength Index (RSI) is calculated to determine overbought and oversold conditions. When RSI exceeds the overbought threshold, it indicates that the market may be overbought, and when it falls below the oversold threshold, it indicates that the market may be oversold. This helps in identifying potential reversal points.
Swing High/Low Detection:
Swing highs and lows are detected using a specified lookback period. These points represent significant price levels where reversals are likely to occur. Swing highs are detected using the ta.pivothigh function, and swing lows are detected using the ta.pivotlow function.
Reversal Zones:
Reversal zones are defined by plotting lines at swing high and low levels when RSI conditions are met. These zones serve as visual cues for potential support and resistance areas, providing a structured framework for identifying reversal points.
Buy and Sell Signals:
Buy signals are generated when the price crosses above a defined reversal zone bottom, indicating a potential upward reversal. Sell signals are generated when the price crosses below a defined reversal zone top, indicating a potential downward reversal. These signals are further confirmed by the presence of bullish or bearish engulfing patterns.
Plotting and Alerts:
The indicator plots buy and sell signals directly on the chart with corresponding labels. Additionally, alerts can be set up to notify the user when a signal is generated, ensuring timely action.
Originality and Usefulness
Innovative Integration of Technical Tools:
The "Reversal Zones with Signals" indicator uniquely combines multiple technical analysis tools into a single, cohesive indicator. This integration provides a comprehensive view of market conditions, enhancing the accuracy of the signals and offering a robust tool for traders.
Enhanced Trading Decisions:
By providing clear and actionable signals, the indicator helps traders make better-informed decisions. The visualization of reversal zones and the integration of RSI and moving averages ensure that traders have a solid framework for identifying potential reversals.
Flexibility and Customization:
The customizable parameters allow traders to adapt the indicator to different trading styles and market conditions. This flexibility ensures that the indicator can be used effectively by a wide range of traders, from beginners to advanced professionals.
Clear and User-Friendly Interface:
The indicator's design prioritizes ease of use, with clear visual signals and intuitive settings. This user-friendly approach makes it accessible to traders of all experience levels.
Real-Time Alerts:
The ability to set up custom alerts ensures that traders are notified of potential trading opportunities as they arise, helping them to act quickly and efficiently.
Versatility Across Markets:
The indicator is suitable for use in various financial markets, including stocks, forex, and cryptocurrencies. Its adaptability across different asset classes makes it a valuable addition to any trader's toolkit.
How to Use
Adding the Indicator:
Add the "Reversal Zones with Signals" indicator to your chart.
Adjust the parameters (Sensitivity, RSI OverBought Value, RSI OverSold Value, Zone Length) to match your trading strategy and market conditions.
Interpreting Signals:
Buy Signal: A green "BUY" label appears below a bar, indicating a potential buying opportunity based on the detected reversal zone and price action.
Sell Signal: A red "SELL" label appears above a bar, indicating a potential selling opportunity based on the detected reversal zone and price action.
Setting Alerts:
Set alerts for buy and sell signals to receive notifications when potential trading opportunities arise. This ensures timely action and helps traders stay informed about critical market moves.
RSI AcceleratorThe Relative Strength Index (RSI) is like a fitness tracker for the underlying time series. It measures how overbought or oversold an asset is, which is kinda like saying how tired or energized it is.
When the RSI goes too high, it suggests the asset might be tired and due for a rest, so it could be a sign it's gonna drop. On the flip side, when the RSI goes too low, it's like the asset is pumped up and ready to go, so it might be a sign it's gonna bounce back up. Basically, it helps traders figure out if a stock is worn out or revved up, which can be handy for making decisions about buying or selling.
The RSI Accelerator takes the difference between a short-term RSI(5) and a longer-term RSI(14) to detect short-term movements. When the short-term RSI rises more than the long-term RSI, it typically refers to a short-term upside acceleration.
The conditions of the signals through the RSI Accelerator are as follows:
* A bullish signal is generated whenever the Accelerator surpasses -20 after having been below it.
* A bearish signal is generated whenever the Accelerator breaks 20 after having been above it.
Kalman Filtered RSI Oscillator [BackQuant]Kalman Filtered RSI Oscillator
The Kalman Filtered RSI Oscillator is BackQuants new free indicator designed for traders seeking an advanced, empirical approach to trend detection and momentum analysis. By integrating the robustness of a Kalman filter with the adaptability of the Relative Strength Index (RSI), this tool offers a sophisticated method to capture market dynamics. This indicator is crafted to provide a clearer, more responsive insight into price trends and momentum shifts, enabling traders to make informed decisions in fast-moving markets.
Core Principles
Kalman Filter Dynamics:
At its core, the Kalman Filtered RSI Oscillator leverages the Kalman filter, renowned for its efficiency in predicting the state of linear dynamic systems amidst uncertainties. By applying it to the RSI calculation, the tool adeptly filters out market noise, offering a smoothed price source that forms the basis for more accurate momentum analysis. The inclusion of customizable parameters like process noise, measurement noise, and filter order allows traders to fine-tune the filter’s sensitivity to market changes, making it a versatile tool for various trading environments.
RSI Adaptation:
The RSI is a widely used momentum oscillator that measures the speed and change of price movements. By integrating the RSI with the Kalman filter, the oscillator not only identifies the prevailing trend but also provides a smoothed representation of momentum. This synergy enhances the indicator's ability to signal potential reversals and trend continuations with a higher degree of reliability.
Advanced Smoothing Techniques:
The indicator further offers an optional smoothing feature for the RSI, employing a selection of moving averages (HMA, THMA, EHMA, SMA, EMA, WMA, TEMA, VWMA) for traders seeking to reduce volatility and refine signal clarity. This advanced smoothing mechanism is pivotal for traders looking to mitigate the effects of short-term price fluctuations on the RSI's accuracy.
Empirical Significance:
Empirically, the Kalman Filtered RSI Oscillator stands out for its dynamic adjustment to market conditions. Unlike static indicators, the Kalman filter continuously updates its estimates based on incoming price data, making it inherently more responsive to new market information. This dynamic adaptation, combined with the RSI's momentum analysis, offers a powerful approach to understanding market trends and momentum with a depth not available in traditional indicators.
Trend Identification and Momentum Analysis:
Traders can use the Kalman Filtered RSI Oscillator to identify strong trends and momentum shifts. The color-coded RSI columns provide immediate visual cues on the market's direction and strength, aiding in quick decision-making.
Optimal for Various Market Conditions:
The flexibility in tuning the Kalman filter parameters makes this indicator suitable for a wide range of assets and market conditions, from volatile to stable markets. Traders can adjust the settings based on empirical testing to find the optimal configuration for their trading strategy.
Complementary to Other Analytical Tools:
While powerful on its own, the Kalman Filtered RSI Oscillator is best used in conjunction with other analytical tools and indicators. Combining it with volume analysis, price action patterns, or other trend-following indicators can provide a comprehensive view of the market, allowing for more nuanced and informed trading decisions.
The Kalman Filtered RSI Oscillator is a groundbreaking tool that marries empirical precision with advanced trend analysis techniques. Its innovative use of the Kalman filter to enhance the RSI's performance offers traders an unparalleled ability to navigate the complexities of modern financial markets. Whether you're a novice looking to refine your trading approach or a seasoned professional seeking advanced analytical tools, the Kalman Filtered RSI Oscillator represents a significant step forward in technical analysis capabilities.
Thus following all of the key points here are some sample backtests on the 1D Chart
Disclaimer: Backtests are based off past results, and are not indicative of the future.
INDEX:BTCUSD
INDEX:ETHUSD
BINANCE:SOLUSD
RSI MFI WPR Combo [The_lurker]The "RSI MFI WPR Combo" is a sophisticated trading indicator developed for the TradingView platform, which synergistically combines the insights of three renowned technical analysis tools: the Relative Strength Index (RSI), the Money Flow Index (MFI), and the Williams Percent Range (WPR). This indicator is meticulously designed to assist traders in identifying potential buying and selling opportunities through the nuanced interpretation of market momentum, volume, and price position relative to recent highs and lows.
Purpose
The primary objective of the "RSI MFI WPR Combo" indicator is to offer a comprehensive tool that leverages the combined power of RSI, MFI, and WPR to detect overbought and oversold conditions, signaling potential reversal points in the market. This multifaceted approach aims to provide traders with a more robust framework for making informed decisions, enhancing their trading strategy with a multi-indicator analysis.
Indicator Conditions Explained
The core of this indicator lies in its strategic conditions that signal potential entry and exit points:
Oversold Condition (condition): This is identified when the MFI and RSI are both below 30, and the WPR falls below -91, suggesting a strong oversold market state. Such a scenario typically indicates a buying opportunity, assuming the market might rebound from this excessively sold condition.
Divergence Condition (condition1): It checks if the MFI exceeds 1.93 times the RSI. This unique condition aims to spotlight instances where there's a significant influx of money into an asset, which is not proportionately reflected in its RSI, potentially signaling an upcoming price increase or highlighting an unusual market situation for further analysis.
Overbought Warning (conditionExit): The exit signal is triggered when both the MFI and RSI exceed 85, and the WPR is above -15. This combination is indicative of an overbought market condition, suggesting the asset might be overvalued and a price correction or reversal could be imminent, hence signaling a potential selling opportunity or a caution against initiating new positions.
Application and Visualization
The "RSI MFI WPR Combo" not only provides numerical insights but also visualizes these conditions on the TradingView chart. By employing color-coding and plotting shapes, it offers traders an intuitive way to discern market states, enabling quick and effective decision-making. The integration of alert conditions ensures that traders are promptly notified of significant market events, aligning with their strategic trading objectives.
Plotting and Alerts in "RSI MFI WPR Combo"
Combined Alert Condition
The combinedAlertCondition is a logical statement that consolidates all individual conditions (condition, condition1, conditionExit, and The_lurkerMFI_oversold) into a single alert trigger. This condition becomes true and triggers an alert if any of the specified conditions for potential trading opportunities or warnings are met. It's designed to provide a comprehensive alert system that notifies the trader of any significant signal identified by the indicator, encompassing both entry and exit signals as well as oversold conditions.
Visual Indicators
Background Color for Oversold Condition: The script sets the background color to a specific shade of blue (#13c2e9 with 90% transparency) when the custom MFI indicates an oversold condition (The_lurkerMFI_oversold). This visual cue helps traders quickly identify periods when the market might be undervalued and potentially poised for a rebound.
Plotting Warning and Exit Signals:
Entry Signals: For the condition and condition1, which identify potential entry points, the indicator plots upward-pointing triangles below the price bars. These triangles are colored in specific shades to differentiate between the signals from the basic oversold condition and the divergence condition, making it visually intuitive for traders to recognize the signal type.
Exit Signals: For the conditionExit, signaling overbought conditions that might suggest an imminent price correction, downward-pointing red triangles are plotted above the price bars. This acts as a clear visual warning to consider exiting positions or to proceed with caution.
Alert Configuration
The script utilizes the alertcondition function to create an alert based on the combinedAlertCondition. When this condition is met, indicating any of the predefined signa
Conclusion
In summary, the "RSI MFI WPR Combo" stands out as a versatile and dynamic indicator that enriches a trader's toolkit by combining the analytical strengths of RSI, MFI, and WPR. By delineating clear conditions for market entry and exit points, it facilitates a proactive approach to trading, grounded in a detailed examination of market dynamics. This indicator exemplifies how blending multiple technical tools can lead to a more informed and nuanced market analysis, aiming to elevate the trading experience on the TradingView platform
RSI and MACD Crossover SignalsBest for Short-Term/Intraday Trading on SPY, TSLA, NVDA
Strategy Concept:
This strategy is designed for short-term trading across various assets and timeframes (Recommend: 1min, 5min, 15min, 1hr, 4hr, 1day). It leverages the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) to identify potential buy and sell signals. The strategy aims to capture moments where the asset's price is likely to experience a reversal or a significant momentum shift.
By combining the RSI and MACD indicators, the strategy seeks to increase the accuracy of identifying potential trend reversals or continuations, taking into account both the momentum and the trend direction of the asset.
RSI (Relative Strength Index) Parameters:
The RSI period is set to 14
Overbought and oversold levels are set at 70 and 30, respectively
The RSI is used to identify potential reversal points when the asset is overbought or oversold
MACD (Moving Average Convergence Divergence) Parameters:
The MACD settings are configured with a fast length of 8, a slow length of 34, and a signal smoothing of 8
The MACD line crossing over or under the signal line is used to confirm the potential buy or sell signals indicated by the RSI
Signal Generation Logic:
Buy Signal:
Triggered when the RSI crosses above the oversold level (30).
Confirmed if the MACD line crosses above the signal line within a delay period of up to 4 candles after the RSI signal.
Sell Signal:
Triggered when the RSI crosses below the overbought level (70).
Confirmed if the MACD line crosses below the signal line within a delay period of up to 4 candles after the RSI signal.
Additional Features:
The script includes a notification system that alerts the trader when either a buy or sell signal is detected. The alert signal is combined with both the buy and sell signal in 1 so people without premium can be alerted when any signal appears.
Buy signals are visually represented on the chart below the price bars with a green "BUY" label.
Sell signals are indicated above the price bars with a red "SELL" label.
Usage and Application:
This strategy is versatile and recommended to be played with scalps and day trades. I prefer SPY 0DTE on the 1 and 5 minute timeframe and looking for bigger trend reversals on the 1hr, 4hr, and 1 day timeframe.
[blackcat] L3 MACD and RSI Fusion The MACD and RSI fusion is a popular technical analysis strategy used by traders to identify buy and sell signals in the market. The strategy makes use of two popular technical indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), and combines them to create a powerful trading signal.
The MACD and RSI fusion was originally developed for the Chinese stock market and is commonly used by traders all over the world. The strategy is based on the idea that the MACD and RSI indicators can be used together to provide a more accurate and reliable signal.
To use the MACD and RSI fusion , traders need to follow a few simple steps. The following code is the TradingView Pine script v4 indicator equivalent of the original MACD and RSI fusion code:
```
//@version=4
study(" MACD and RSI fusion ", overlay=false)
// Define the simple fusion indicator
simple_fusion = (ema(close, 12) - ema(close, 26)) * 1.2 + rsi(close, 14) / 50
// Define the simple fusion lag indicator
simple_fusion_lag = nz(simple_fusion )
// Plot the simple fusion and simple fusion lag indicators
plot(simple_fusion, color=color.blue, title="simple fusion")
plot(simple_fusion_lag, color=color.red, title="simple fusion Lag")
```
This code defines the simple fusion and simple fusion Lag indicators and plots them on the chart. The simple fusion indicator is the sum of the 12- and 26-period exponential moving averages of the closing price, multiplied by 1.2, and added to the 14-period relative strength index of the closing price, divided by 50. The simple fusion Lag indicator is the value of the simple fusion indicator from the previous period.
Traders can use the simple fusion and simple fusion Lag indicators to identify buy and sell signals. When the simple fusion indicator crosses above the simple fusion Lag indicator, it is a buy signal, and when the simple fusion indicator crosses below the simple fusion Lag indicator, it is a sell signal.
In conclusion, the MACD and RSI fusion is a simple but powerful technical analysis strategy that combines two popular technical indicators to identify buy and sell signals in the market.
Multi Type RSI [Misu]█ This Indicator is based on RSI ( Relative Strength Index ) & multiple type of MA (Moving Average) to show different variations of RSI.
The relative strength index (RSI) is a momentum indicator used in technical analysis to evaluate overvalued or undervalued conditions in the price of that security.
█ Usages:
The purpose of this indicator is to obtain the RSI calculated with different MAs modes instead of the classic RMA.
The red and green zones indicate the oversold and overbought zones.
Buy or sell signals are marked by the green and red circles
We have 2 different signal modes : when the different size RSIs cross and when the fast RSI crosses the extreme bands.
Alerts are setup.
█ Parameters:
Lenght RSI: The lenght of the RSI. (14 by default)
RSI MA Type: The type of MA with which the rsi will be calculated. ("SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA")
Fast Lenght MA: The fast lenght smoothing MA.
Slow Lenght MA: The Slow lenght smoothing MA.
Lower Band: The lenght of the lower band. (25 by default)
Upper Band: The lenght of the upper band. (75 by default)
Signal Type: The mode with which buy and sell signals are triggered. ("Cross 2 Mas", "Cross Ma/Bands")
RSI Levels, Multi-TimeframeThe relative strength index (RSI) is a momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions. RSI is normally displayed as an oscillator separately from price and can have a reading from 0 to 100. This indicator takes the RSI and plots the 30 & 70 levels onto the price chart so you can see when price is going to meet the 30 or 70 levels. The reason the 30 & 70 levels are important is because many traders (and bots) use those as signals to buy (at 30 RSI) or sell (at 70 RSI). Additionally, this indicator allows you to display not just the RSI levels of your currently viewed timeframe on the chart, but also shows the RSI levels of up to 6 different timeframes on the same chart. This allows you to quickly see if multiple RSI levels are aligning across different timelines, which is an even stronger indication that price is going to change direction when it meets those levels on the chart. There are a lot of nice configuration options, like:
Style customization (color, thickness, size)
Labels on the chart so you can tell which plots are the RSI levels
Optionally display the plot as a horizontal line if all you care about is the RSI level right now
Toggle overbought (RSI 70) or oversold (RSI 30) on/off completely
[ALERTS] ADX and DIThe average directional index (ADX) is a technical analysis metric. Analysts use it to determine the relative strength of a trend, with the direction of the trend either upwards or downwards.
The Average Directional Index (ADX) along with the Negative Directional Indicator (-DI) and the Positive Directional Indicator (+DI) are momentum strength indicators that evolved for use in stock trading. Commodities trader J. Welles Wilder pioneered their use. Technical traders who use charting techniques want to know when first spotting a shifting trend how strong that trend is and how likely it is to sustain itself over time. The ADX helps investors determine trend strength as they plan their investment strategies.
Confirmation on a chart and other momentum indicators help investors spot trend reversals. But some trends are more potent than others and investors want to better understand the strength of a trend. The ADX identifies a strong positive trend when the ADX is over 25 and a weak trend when the ADX is below 20. Investors can determine directional movement by analyzing the difference between two consecutive low prices and their correlated highs. The movement is +DM when the current high price, less the previous high price, is greater than the previous low price less the current low. The opposite applies in determining the negative or –DI.
When analyzing charts, stock price is the single most important variable to follow. ADX and other indicators are supplementary to price movements in providing additional directional information and support. For example, some of the best trends come about from price range consolidation. It is those tugs of war between buying and selling volumes that lead to breakouts and other trading opportunities.
The Inventor of the Average Directional Index
J. Welles Wilder, Jr. is a former American engineer and real estate developer who went on to revolutionize trading analysis by applying mathematical systems to the world of investing. In addition to developing the ADX, Wilder is also responsible for several other commonly used technical analysis tools including the Average True Range (ATR), the Relative Strength Index (RSI) and the Parabolic SAR.
www.investopedia.com
This script has alerts and includes the filter for markets with no trend defined.
Green Alert --> Long
Red Alert --> Short
Yellow Area --> Weak trend. ADX below threshold
Green candles --> Bullish Market
Red Candles --> Bearish Market
Orange candles --> No defined trend
Enjoy!
Relative Strength IndexRelative Strength Index (mikolajan)
This is a modified built-in Relative Strength Index (RSI) indicator with two lines added to it to add an internal range.
Bear Market Probability Model# Bear Market Probability Model: A Multi-Factor Risk Assessment Framework
The Bear Market Probability Model represents a comprehensive quantitative framework for assessing systemic market risk through the integration of 13 distinct risk factors across four analytical categories: macroeconomic indicators, technical analysis factors, market sentiment measures, and market breadth metrics. This indicator synthesizes established financial research methodologies to provide real-time probabilistic assessments of impending bear market conditions, offering institutional-grade risk management capabilities to retail and professional traders alike.
## Theoretical Foundation
### Historical Context of Bear Market Prediction
Bear market prediction has been a central focus of financial research since the seminal work of Dow (1901) and the subsequent development of technical analysis theory. The challenge of predicting market downturns gained renewed academic attention following the market crashes of 1929, 1987, 2000, and 2008, leading to the development of sophisticated multi-factor models.
Fama and French (1989) demonstrated that certain financial variables possess predictive power for stock returns, particularly during market stress periods. Their three-factor model laid the groundwork for multi-dimensional risk assessment, which this indicator extends through the incorporation of real-time market microstructure data.
### Methodological Framework
The model employs a weighted composite scoring methodology based on the theoretical framework established by Campbell and Shiller (1998) for market valuation assessment, extended through the incorporation of high-frequency sentiment and technical indicators as proposed by Baker and Wurgler (2006) in their seminal work on investor sentiment.
The mathematical foundation follows the general form:
Bear Market Probability = Σ(Wi × Ci) / ΣWi × 100
Where:
- Wi = Category weight (i = 1,2,3,4)
- Ci = Normalized category score
- Categories: Macroeconomic, Technical, Sentiment, Breadth
## Component Analysis
### 1. Macroeconomic Risk Factors
#### Yield Curve Analysis
The inclusion of yield curve inversion as a primary predictor follows extensive research by Estrella and Mishkin (1998), who demonstrated that the term spread between 3-month and 10-year Treasury securities has historically preceded all major recessions since 1969. The model incorporates both the 2Y-10Y and 3M-10Y spreads to capture different aspects of monetary policy expectations.
Implementation:
- 2Y-10Y Spread: Captures market expectations of monetary policy trajectory
- 3M-10Y Spread: Traditional recession predictor with 12-18 month lead time
Scientific Basis: Harvey (1988) and subsequent research by Ang, Piazzesi, and Wei (2006) established the theoretical foundation linking yield curve inversions to economic contractions through the expectations hypothesis of the term structure.
#### Credit Risk Premium Assessment
High-yield credit spreads serve as a real-time gauge of systemic risk, following the methodology established by Gilchrist and Zakrajšek (2012) in their excess bond premium research. The model incorporates the ICE BofA High Yield Master II Option-Adjusted Spread as a proxy for credit market stress.
Threshold Calibration:
- Normal conditions: < 350 basis points
- Elevated risk: 350-500 basis points
- Severe stress: > 500 basis points
#### Currency and Commodity Stress Indicators
The US Dollar Index (DXY) momentum serves as a risk-off indicator, while the Gold-to-Oil ratio captures commodity market stress dynamics. This approach follows the methodology of Akram (2009) and Beckmann, Berger, and Czudaj (2015) in analyzing commodity-currency relationships during market stress.
### 2. Technical Analysis Factors
#### Multi-Timeframe Moving Average Analysis
The technical component incorporates the well-established moving average convergence methodology, drawing from the work of Brock, Lakonishok, and LeBaron (1992), who provided empirical evidence for the profitability of technical trading rules.
Implementation:
- Price relative to 50-day and 200-day simple moving averages
- Moving average convergence/divergence analysis
- Multi-timeframe MACD assessment (daily and weekly)
#### Momentum and Volatility Analysis
The model integrates Relative Strength Index (RSI) analysis following Wilder's (1978) original methodology, combined with maximum drawdown analysis based on the work of Magdon-Ismail and Atiya (2004) on optimal drawdown measurement.
### 3. Market Sentiment Factors
#### Volatility Index Analysis
The VIX component follows the established research of Whaley (2009) and subsequent work by Bekaert and Hoerova (2014) on VIX as a predictor of market stress. The model incorporates both absolute VIX levels and relative VIX spikes compared to the 20-day moving average.
Calibration:
- Low volatility: VIX < 20
- Elevated concern: VIX 20-25
- High fear: VIX > 25
- Panic conditions: VIX > 30
#### Put-Call Ratio Analysis
Options flow analysis through put-call ratios provides insight into sophisticated investor positioning, following the methodology established by Pan and Poteshman (2006) in their analysis of informed trading in options markets.
### 4. Market Breadth Factors
#### Advance-Decline Analysis
Market breadth assessment follows the classic work of Fosback (1976) and subsequent research by Brown and Cliff (2004) on market breadth as a predictor of future returns.
Components:
- Daily advance-decline ratio
- Advance-decline line momentum
- McClellan Oscillator (Ema19 - Ema39 of A-D difference)
#### New Highs-New Lows Analysis
The new highs-new lows ratio serves as a market leadership indicator, based on the research of Zweig (1986) and validated in academic literature by Zarowin (1990).
## Dynamic Threshold Methodology
The model incorporates adaptive thresholds based on rolling volatility and trend analysis, following the methodology established by Pagan and Sossounov (2003) for business cycle dating. This approach allows the model to adjust sensitivity based on prevailing market conditions.
Dynamic Threshold Calculation:
- Warning Level: Base threshold ± (Volatility × 1.0)
- Danger Level: Base threshold ± (Volatility × 1.5)
- Bounds: ±10-20 points from base threshold
## Professional Implementation
### Institutional Usage Patterns
Professional risk managers typically employ multi-factor bear market models in several contexts:
#### 1. Portfolio Risk Management
- Tactical Asset Allocation: Reducing equity exposure when probability exceeds 60-70%
- Hedging Strategies: Implementing protective puts or VIX calls when warning thresholds are breached
- Sector Rotation: Shifting from growth to defensive sectors during elevated risk periods
#### 2. Risk Budgeting
- Value-at-Risk Adjustment: Incorporating bear market probability into VaR calculations
- Stress Testing: Using probability levels to calibrate stress test scenarios
- Capital Requirements: Adjusting regulatory capital based on systemic risk assessment
#### 3. Client Communication
- Risk Reporting: Quantifying market risk for client presentations
- Investment Committee Decisions: Providing objective risk metrics for strategic decisions
- Performance Attribution: Explaining defensive positioning during market stress
### Implementation Framework
Professional traders typically implement such models through:
#### Signal Hierarchy:
1. Probability < 30%: Normal risk positioning
2. Probability 30-50%: Increased hedging, reduced leverage
3. Probability 50-70%: Defensive positioning, cash building
4. Probability > 70%: Maximum defensive posture, short exposure consideration
#### Risk Management Integration:
- Position Sizing: Inverse relationship between probability and position size
- Stop-Loss Adjustment: Tighter stops during elevated risk periods
- Correlation Monitoring: Increased attention to cross-asset correlations
## Strengths and Advantages
### 1. Comprehensive Coverage
The model's primary strength lies in its multi-dimensional approach, avoiding the single-factor bias that has historically plagued market timing models. By incorporating macroeconomic, technical, sentiment, and breadth factors, the model provides robust risk assessment across different market regimes.
### 2. Dynamic Adaptability
The adaptive threshold mechanism allows the model to adjust sensitivity based on prevailing volatility conditions, reducing false signals during low-volatility periods and maintaining sensitivity during high-volatility regimes.
### 3. Real-Time Processing
Unlike traditional academic models that rely on monthly or quarterly data, this indicator processes daily market data, providing timely risk assessment for active portfolio management.
### 4. Transparency and Interpretability
The component-based structure allows users to understand which factors are driving risk assessment, enabling informed decision-making about model signals.
### 5. Historical Validation
Each component has been validated in academic literature, providing theoretical foundation for the model's predictive power.
## Limitations and Weaknesses
### 1. Data Dependencies
The model's effectiveness depends heavily on the availability and quality of real-time economic data. Federal Reserve Economic Data (FRED) updates may have lags that could impact model responsiveness during rapidly evolving market conditions.
### 2. Regime Change Sensitivity
Like most quantitative models, the indicator may struggle during unprecedented market conditions or structural regime changes where historical relationships break down (Taleb, 2007).
### 3. False Signal Risk
Multi-factor models inherently face the challenge of balancing sensitivity with specificity. The model may generate false positive signals during normal market volatility periods.
### 4. Currency and Geographic Bias
The model focuses primarily on US market indicators, potentially limiting its effectiveness for global portfolio management or non-USD denominated assets.
### 5. Correlation Breakdown
During extreme market stress, correlations between risk factors may increase dramatically, reducing the model's diversification benefits (Forbes and Rigobon, 2002).
## References
Akram, Q. F. (2009). Commodity prices, interest rates and the dollar. Energy Economics, 31(6), 838-851.
Ang, A., Piazzesi, M., & Wei, M. (2006). What does the yield curve tell us about GDP growth? Journal of Econometrics, 131(1-2), 359-403.
Baker, M., & Wurgler, J. (2006). Investor sentiment and the cross‐section of stock returns. The Journal of Finance, 61(4), 1645-1680.
Baker, S. R., Bloom, N., & Davis, S. J. (2016). Measuring economic policy uncertainty. The Quarterly Journal of Economics, 131(4), 1593-1636.
Barber, B. M., & Odean, T. (2001). Boys will be boys: Gender, overconfidence, and common stock investment. The Quarterly Journal of Economics, 116(1), 261-292.
Beckmann, J., Berger, T., & Czudaj, R. (2015). Does gold act as a hedge or a safe haven for stocks? A smooth transition approach. Economic Modelling, 48, 16-24.
Bekaert, G., & Hoerova, M. (2014). The VIX, the variance premium and stock market volatility. Journal of Econometrics, 183(2), 181-192.
Brock, W., Lakonishok, J., & LeBaron, B. (1992). Simple technical trading rules and the stochastic properties of stock returns. The Journal of Finance, 47(5), 1731-1764.
Brown, G. W., & Cliff, M. T. (2004). Investor sentiment and the near-term stock market. Journal of Empirical Finance, 11(1), 1-27.
Campbell, J. Y., & Shiller, R. J. (1998). Valuation ratios and the long-run stock market outlook. The Journal of Portfolio Management, 24(2), 11-26.
Dow, C. H. (1901). Scientific stock speculation. The Magazine of Wall Street.
Estrella, A., & Mishkin, F. S. (1998). Predicting US recessions: Financial variables as leading indicators. Review of Economics and Statistics, 80(1), 45-61.
Fama, E. F., & French, K. R. (1989). Business conditions and expected returns on stocks and bonds. Journal of Financial Economics, 25(1), 23-49.
Forbes, K. J., & Rigobon, R. (2002). No contagion, only interdependence: measuring stock market comovements. The Journal of Finance, 57(5), 2223-2261.
Fosback, N. G. (1976). Stock market logic: A sophisticated approach to profits on Wall Street. The Institute for Econometric Research.
Gilchrist, S., & Zakrajšek, E. (2012). Credit spreads and business cycle fluctuations. American Economic Review, 102(4), 1692-1720.
Harvey, C. R. (1988). The real term structure and consumption growth. Journal of Financial Economics, 22(2), 305-333.
Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263-291.
Magdon-Ismail, M., & Atiya, A. F. (2004). Maximum drawdown. Risk, 17(10), 99-102.
Nickerson, R. S. (1998). Confirmation bias: A ubiquitous phenomenon in many guises. Review of General Psychology, 2(2), 175-220.
Pagan, A. R., & Sossounov, K. A. (2003). A simple framework for analysing bull and bear markets. Journal of Applied Econometrics, 18(1), 23-46.
Pan, J., & Poteshman, A. M. (2006). The information in option volume for future stock prices. The Review of Financial Studies, 19(3), 871-908.
Taleb, N. N. (2007). The black swan: The impact of the highly improbable. Random House.
Whaley, R. E. (2009). Understanding the VIX. The Journal of Portfolio Management, 35(3), 98-105.
Wilder, J. W. (1978). New concepts in technical trading systems. Trend Research.
Zarowin, P. (1990). Size, seasonality, and stock market overreaction. Journal of Financial and Quantitative Analysis, 25(1), 113-125.
Zweig, M. E. (1986). Winning on Wall Street. Warner Books.
StoRsi# StoRSI Indicator: Combining RSI and Stochastic with multiTF
## Overview
The StoRSI indicator combines Relative Strength Index (RSI) and Stochastic oscillators in a single view to provide powerful momentum and trend analysis. By displaying both indicators together with multi-timeframe analysis, it helps traders identify stronger signals when both indicators align.
## Key Components
### 1. RSI (Relative Strength Index)
### 2. Stochastic Oscillator
### 3. EMA (Exponential Moving Average)
### 4. Multi-Timeframe Analysis
## Visual Features
- **Color-coded zones**: Highlights overbought/oversold areas
- **Signal backgrounds**: Shows when both indicators align
- **Multi-timeframe table**: Displays RSI, Stochastic, and trend across timeframes
- **Customizable colors**: Allows full visual customization
## Signal Generation (some need to uncomment in code)
The indicator generates several types of signals:
1. **RSI crosses**: When RSI crosses above/below overbought/oversold levels
2. **Stochastic crosses**: When Stochastic %K crosses above/below overbought/oversold levels
3. **Combined signals**: When both indicators show the same condition
4. **Trend alignment**: When multiple timeframes show the same trend direction
## Conclusion
The StoRSI indicator provides a comprehensive view of market momentum by combining two powerful oscillators with multi-timeframe analysis. By looking for alignment between RSI and Stochastic across different timeframes, traders can identify stronger signals and filter out potential false moves. The visual design makes it easy to spot opportunities at a glance, while the customizable parameters allow adaptation to different markets and trading styles.
For best results, use this indicator as part of a complete trading system that includes proper risk management, trend analysis, and confirmation from price action patterns.
