RSI XTR with selective candle color by Edwin KThis tradingView indicator named "RSI XTR with selective candle color", which modifies the candle colors on the chart based on RSI (Relative Strength Index) conditions. Here's how it works:
- rsiPeriod: Defines the RSI calculation period (default = 5).
- rsiOverbought: RSI level considered overbought (default = 70).
- rsiOversold: RSI level considered oversold (default = 30).
- These values can be modified by the user in the settings.
RSI Calculation
- Computes the RSI value using the ta.rsi() function on the closing price (close).
- The RSI is a momentum indicator that measures the magnitude of recent price changes.
Conditions for Candle Coloring
- when the RSI is above the overbought level.
- when the RSI is below the oversold level.
How It Works in Practice
- When the RSI is above 70 (overbought) → Candles turn red.
- When the RSI is below 30 (oversold) → Candles turn green.
- If the RSI is between 30 and 70, the candle keeps its default color.
This helps traders quickly spot potential reversal zones based on RSI momentum.
Cari dalam skrip untuk "rsi"
RSI-Adjusted 9SMAThis indicator integrates the Relative Strength Index (RSI) and a Simple Moving Average (SMA) to create a more robust trading signal by blending momentum and trend analysis. Here's how they work together:
How the RSI and SMA Work in Harmony
RSI (Momentum Indicator):
The RSI measures the speed and change of price movements, oscillating between 0 and 100.
Typically, an RSI value above 50 suggests bullish momentum, while values below 50 indicate bearish momentum.
The script further refines this by applying a 9-period EMA to the RSI. This smoothing process filters out noise, providing a clearer picture of momentum shifts.
SMA (Trend Indicator):
The SMA calculates the average price over a specific period (9 in this case), helping to smooth out price fluctuations and identify the overall trend.
By observing the SMA, traders can determine whether the market is trending upward, downward, or moving sideways.
Combining the Two for Stronger Signals:
The RSI EMA acts as a momentum filter. When it is above 50, it indicates the presence of bullish momentum. Under such conditions, the SMA turning blue provides a stronger confirmation of an uptrend.
Conversely, when the RSI EMA is below 50, it signals weakening momentum. The SMA turning white underlines the caution, suggesting potential bearish conditions or a lack of trend strength.
This combination ensures that traders are not just relying on the SMA's trend-following behavior but also factoring in the market's underlying momentum for more reliable entries and exits.
Why This Approach is Robust
Avoid False Signals:
The SMA alone can generate false signals in choppy or range-bound markets. By incorporating the RSI EMA, the script reduces the likelihood of acting on weak or non-committal trends.
Timing Entries and Exits:
When both the SMA and RSI EMA align (e.g., blue SMA and RSI EMA > 50), it provides a stronger case for entering trades. Similarly, misalignment (e.g., white SMA and RSI EMA ≤ 50) warns against entering during uncertain conditions.
Adapting to Market Conditions:
This dual approach captures both short-term momentum shifts (RSI EMA) and longer-term trend direction (SMA), making it useful across different market phases.
Practical Application
Bullish Setup:
RSI EMA > 50 + Blue SMA → Enter or stay in long positions.
Bearish Setup:
RSI EMA ≤ 50 + White SMA → Exit long positions or consider short opportunities.
This combination of indicators offers traders a balanced strategy that considers both the direction of the trend and the underlying momentum, resulting in more confident and timely decision-making.
RSI and Dev Advanced Volatility IndexEnglish Explanation of the "RSI and Dev Advanced Volatility Index" Pine Script Code
Understanding the Code
Purpose:
This Pine Script code creates a custom indicator that combines the Relative Strength Index (RSI) and Deviation (DEV) to provide insights into market volatility.
Key Components:
* Deviation (DEV): Calculates the difference between the closing price and the 10-period simple moving average. This measures the extent to which the price deviates from its recent average, indicating volatility.
* RSI: The traditional RSI is then applied to the calculated deviations. This helps to smooth the data and identify overbought or oversold conditions in terms of volatility.
Calculation Steps:
* Deviation Calculation: The difference between the closing price and its 10-period simple moving average is calculated.
* RSI Calculation: The RSI is calculated on the deviations, providing a measure of the speed and change of volatility relative to recent volatility changes.
* Plotting:
* The RSI of the deviations is plotted on the chart.
* Horizontal lines are plotted at 50, 0, and 110 to visually represent different volatility zones.
* The area between the lines is filled with color to highlight low and high volatility regions.
Interpretation and Usage
* Volatility Analysis:
* High Volatility: When the RSI is above 50, it indicates high volatility, suggesting the market might be in a consolidation or trend reversal phase.
* Low Volatility: When the RSI is below 50, it indicates low volatility, suggesting a relatively calm market.
* Trading Signals:
* Buy Signal: When the RSI crosses above 50 from below, it might signal increasing volatility, which could be a buying opportunity.
* Sell Signal: When the RSI crosses below 50 from above, it might signal decreasing volatility, which could be a selling opportunity.
* Risk Management:
* By monitoring volatility, traders can better manage their risk. During periods of high volatility, traders might reduce their position size or adopt more conservative strategies.
Advantages
* Comprehensive: Combines RSI and DEV for a more holistic view of volatility.
* Sensitivity: Quickly responds to changes in market volatility.
* Visual Clarity: Color-coded zones provide a clear visual representation of different volatility levels.
Limitations
* Parameter Sensitivity: The indicator's performance is sensitive to parameter changes, such as the lookback period for the moving average.
* Lag: Like most technical indicators, it has some lag and might not capture every market movement.
* Not Predictive: It can only indicate current and past volatility, not future movements.
Summary
This custom indicator offers a valuable tool for analyzing market volatility. By combining RSI and DEV, it provides a more nuanced perspective on price fluctuations. However, it should be used in conjunction with other technical indicators and fundamental analysis for more robust trading decisions.
Key points to remember:
* Higher RSI values indicate higher volatility.
* Lower RSI values indicate lower volatility.
* Crossovers of the RSI line above or below 50 can provide potential trading signals.
* The indicator should be used in conjunction with other analysis tools for a more complete picture of the market.
RSI from Rolling VWAP [CHE]Introducing the RSI from Rolling VWAP Indicator
Elevate your trading strategy with the RSI from Rolling VWAP —a cutting-edge indicator designed to provide unparalleled insights and enhance your decision-making on TradingView. This advanced tool seamlessly integrates the Relative Strength Index (RSI) with a Rolling Volume-Weighted Average Price (VWAP) to deliver precise and actionable trading signals.
Why Choose RSI from Rolling VWAP ?
- Clear Trend Detection: Our enhanced algorithms ensure accurate identification of bullish and bearish trends, allowing you to capitalize on market movements with confidence.
- Customizable Time Settings: Tailor the time window in days, hours, and minutes to align perfectly with your unique trading strategy and market conditions.
- Flexible Moving Averages: Select from a variety of moving average types—including SMA, EMA, WMA, and more—to smooth the RSI, providing clearer trend analysis and reducing market noise.
- Threshold Alerts: Define upper and lower RSI thresholds to effortlessly spot overbought or oversold conditions, enabling timely and informed trading decisions.
- Visual Enhancements: Enjoy a visually intuitive interface with color-coded RSI lines, moving averages, and background fills that make interpreting market data straightforward and efficient.
- Automatic Signal Labels: Receive immediate bullish and bearish labels directly on your chart, signaling potential trading opportunities without the need for constant monitoring.
Key Features
- Inspired by Proven Tools: Building upon the robust foundation of TradingView's Rolling VWAP, our indicator offers enhanced functionality and greater precision.
- Volume-Weighted Insights: By incorporating volume into the VWAP calculation, gain a deeper understanding of price movements and market strength.
- User-Friendly Configuration: Easily adjust settings to match your trading preferences, whether you're a novice trader or an experienced professional.
- Hypothesis-Driven Analysis: Utilize hypothetical results to backtest strategies, understanding that past performance does not guarantee future outcomes.
How It Works
1. Data Integration: Utilizes the `hlc3` (average of high, low, and close) as the default data source, with customization options available to suit your trading needs.
2. Dynamic Time Window: Automatically calculates the optimal time window based on an auto timeframe or allows for fixed time periods, ensuring flexibility and adaptability.
3. Rolling VWAP Calculation: Accurately computes the Rolling VWAP by balancing price and volume over the specified time window, providing a reliable benchmark for price action.
4. RSI Analysis: Measures momentum through RSI based on Rolling VWAP changes, smoothed with your chosen moving average for enhanced trend clarity.
5. Actionable Signals: Detects and labels bullish and bearish conditions when RSI crosses predefined thresholds, offering clear indicators for potential market entries and exits.
Seamless Integration with Your TradingView Experience
Adding the RSI from Rolling VWAP to your TradingView charts is straightforward:
1. Add to Chart: Simply copy the Pine Script code into TradingView's Pine Editor and apply it to your desired chart.
2. Customize Settings: Adjust the Source Settings, Time Settings, RSI Settings, MA Settings, and Color Settings to align with your trading strategy.
3. Monitor Signals: Watch for RSI crossings above or below your set thresholds, accompanied by clear labels indicating bullish or bearish trends.
4. Optimize Your Trades: Leverage the visual and analytical strengths of the indicator to make informed buy or sell decisions, maximizing your trading potential.
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Get Started Today
Transform your trading approach with the RSI from Rolling VWAP indicator. Experience the synergy of momentum and volume-based analysis, and unlock the potential for more accurate and profitable trades.
Download now and take the first step towards a more informed and strategic trading journey!
For further inquiries or support, feel free to contact
Best regards
Chervolino
Inspired by the acclaimed Rolling VWAP by TradingView
RSI 30-50-70 moving averageDescription:
The RSI 30-50-70 Moving Average indicator plots three distinct moving averages based on different RSI ranges (30%, 50%, and 70%). Each moving average corresponds to different market conditions and provides potential entry and exit signals. Here's how it works:
• RSI_30 Range (25%-35%): The moving average of closing prices when the RSI is between 25% and 35%, representing potential oversold conditions.
• RSI_50 Range (45%-55%): The moving average of closing prices when the RSI is between 45% and 55%, providing a balanced perspective for trend-following strategies.
• RSI_70 Range (65%-75%): The moving average of closing prices when the RSI is between 65% and 75%, representing potential overbought conditions.
This indicator offers flexibility, as users can adjust key parameters such as RSI ranges, periods, and time frames to fine-tune the signals for their trading strategies.
How it Works:
Like traditional moving averages, the RSI 30-50-70 Moving Averages can highlight dynamic levels of support and resistance. They offer additional insight by focusing on specific RSI ranges, providing early signals for trend reversals or continuation. The default settings can be used across various assets but should be optimized via backtesting.
Default Settings:
• RSI_30: 25% to 35% (Oversold Zone, yellow line)
• RSI_50: 45% to 55% (Neutral/Trend Zone, green line)
• RSI_70: 65% to 75% (Overbought Zone, red line)
• RSI Period: 14
Buy Conditions:
• Use the 5- or 15-minute time frame.
• Wait for the price to move below the RSI_30 line, indicating potential oversold conditions.
• Enter a buy order when the price closes above the RSI_30 line, signaling a recovery from the oversold zone.
• For a more conservative approach, use the RSI_50 line as the buy signal to confirm a trend reversal.
• Important: Before entering, ensure that the RSI_30 moving average has flattened or started to level off, signaling that the oversold momentum has slowed.
Sell Conditions:
• Use the 5- or 15-minute time frame.
• Wait for the price to close above the RSI_70 line, indicating potential overbought conditions.
• Enter a sell order when the price closes below the RSI_70 line, signaling a decline from the overbought zone.
• Important: Similar to buying, wait for the RSI_70 moving average to flatten or level off before selling, indicating the overbought conditions are stalling.
Key Features:
1. Dynamic Range Customization: The indicator allows users to modify the RSI ranges and periods, tailoring the moving averages to fit different market conditions or asset classes.
2. Trend-Following and Reversal Signals: The RSI 30-50-70 moving averages provide both reversal and trend-following signals, making it a versatile tool for short-term traders.
3. Visual Representation of Market Strength: By plotting moving averages based on RSI levels, traders can visually interpret the market’s strength and potential turning points.
4. Risk Management: The built-in flexibility allows traders to choose lower-risk entries by adjusting which RSI level (e.g., RSI_30 vs. RSI_50) they rely on for signals.
Practical Use:
Different assets respond uniquely to RSI-based moving averages, so it's recommended to backtest and adjust ranges for specific instruments. For example, volatile assets may require wider RSI ranges, while more stable assets could benefit from tighter ranges.
Checking for Buy conditions:
1st: Wait for current price to go below the RSI_30 (yellow line)
2nd: Wait and observe for bullish divergence
3rd: RSI_30 has flattened indicating potential gain of momentum after a bullish divergence.
4th: Enter a buy order when the price closed above the RSI_30, preferably when a green candle appeared.
RSI 15/60 and ADX PlotIn this script, the buy and sell criteria are based on the Relative Strength Index (RSI) values calculated for two different timeframes: the 15-minute RSI and the hourly RSI. These timeframes are used together to check signals when certain thresholds are crossed, providing confirmation across both short-term and longer-term momentum.
Buy Criteria:
Condition 1:
Hourly RSI > 60: This means the longer-term momentum shows strength.
15-minute RSI crosses above 60: This shows that the shorter-term momentum is catching up and confirms increasing strength.
Condition 2:
15-minute RSI > 60: This indicates that the short-term trend is already strong.
Hourly RSI crosses above 60: This confirms that the longer-term trend is also gaining strength.
Both conditions aim to capture the moments when the market shows increasing strength across both short and long timeframes, signaling a potential buy opportunity.
Sell Criteria:
Condition 1:
Hourly RSI < 40: This indicates that the longer-term trend is weakening.
15-minute RSI crosses below 40: The short-term momentum is also turning down, confirming the weakening trend.
Condition 2:
15-minute RSI < 40: The short-term trend is already weak.
Hourly RSI crosses below 40: The longer-term trend is now confirming the weakness, indicating a potential sell.
These conditions work to identify when the market is showing weakness in both short-term and long-term timeframes, signaling a potential sell opportunity.
ADX Confirmation :
The Average Directional Index (ADX) is a key tool for measuring the strength of a trend. It can be used alongside the RSI to confirm whether a buy or sell signal is occurring in a strong trend or during market consolidation. Here's how ADX can be integrated:
ADX > 25: This indicates a strong trend. Using this threshold, you can confirm buy or sell signals when there is a strong upward or downward movement in the market.
Buy Example: If a buy signal (RSI > 60) is triggered and the ADX is above 25, this confirms that the market is in a strong uptrend, making the buy signal more reliable.
Sell Example: If a sell signal (RSI < 40) is triggered and the ADX is above 25, it confirms a strong downtrend, validating the sell signal.
ADX < 25: This suggests a weak or non-existent trend. In this case, RSI signals might be less reliable since the market could be moving sideways.
Final Approach:
The RSI criteria help identify potential overbought and oversold conditions in both short and long timeframes.
The ADX confirmation ensures that the signals generated are happening during strong trends, increasing the likelihood of successful trades by filtering out weak or choppy market conditions.
This combination of RSI and ADX can help traders make more informed decisions by ensuring both momentum and trend strength align before entering or exiting trades.
RSI-based MACDThe RSI is one of the most popular indicators available. This indicator, which represents the strength of market momentum based on the gains and losses over the past 14 candlesticks, is rational and is mainly used as an oscillator to determine overbought or oversold conditions. However, because the RSI is an older indicator, its very simple design—displaying only a single line on the graph—may feel somewhat lacking in functionality to modern traders. The main issue is that there is no objective measure to determine whether the RSI is currently rising or falling.
That’s when I came up with the idea of calculating the MACD based on the smoothed values of the RSI. As is well known, the MACD is an indicator that represents the distance between moving averages, designed to show when the moving averages cross as the value falls below zero. By observing the golden crosses and death crosses of the MACD and signal line, one can anticipate the golden and death crosses of the moving averages. Applying the same logic, I thought that calculating the MACD based on RSI values would allow us to predict the rise and fall of the RSI by observing these golden and death crosses.
Currently, the RSI is often used as a contrarian indicator to determine overbought and oversold conditions, but with this approach, I believe the RSI can instead function extremely well as a trend-following indicator. Whenever an uptrend occurs, the RSI inevitably rises, and when a downtrend occurs, the RSI inevitably falls. Therefore, by predicting the rise and fall of the RSI, it becomes possible to forecast what kind of trend is likely to develop.
In this indicator, the MACD calculated from the RSI is displayed, with the original RSI line plotted above it. Since the scales of the RSI and MACD are different, I originally wanted to provide a separate scale for the RSI on the left side. However, due to TradingView’s limitations, it seems quite difficult to display more than one scale in a single panel, so I had to give up on that. Instead, I ask that you mentally multiply the RSI values displayed on the right by 10—for example, 2.11 indicates 21.1%.
Additionally, as a bonus, I’ve included a feature that detects divergences. With these features, I believe this has become the most useful indicator when compared to existing RSI-based indicators. I hope you find it helpful in your trading.
RSI MTF [Market Yogi]The Multi-Time Frame RSI with Money Flow Index and Average is a powerful trading indicator designed to help traders identify overbought and oversold conditions across multiple time frames. It combines the Relative Strength Index (RSI) with the Money Flow Index (MFI) and provides an average value for better accuracy.
The Relative Strength Index (RSI) is a popular momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is used to identify overbought and oversold conditions in an asset. By incorporating the RSI across multiple time frames, this indicator offers a broader perspective on market sentiment.
In addition to the RSI, this indicator also includes the Money Flow Index (MFI). The MFI is a volume-based oscillator that measures the inflow and outflow of money into an asset. It takes into account both price and volume, providing insights into the strength and direction of buying and selling pressure.
By combining the RSI and MFI across multiple time frames, traders gain a comprehensive understanding of market dynamics. The indicator allows for comparing the RSI and MFI values across different time frames, enabling traders to identify divergences and potential trend reversals.
Furthermore, this indicator provides an average value of the multi-time frame RSI, offering a consolidated signal that helps filter out noise and enhance the accuracy of trading decisions.
Key Features:
1. Multi-Time Frame RSI: Combines the RSI across different time frames to provide a comprehensive view of market sentiment.
2. Money Flow Index (MFI): Incorporates the MFI to gauge buying and selling pressure based on both price and volume.
3. Average Calculation: Computes the average value of the multi-time frame RSI to generate a consolidated trading signal.
4. Divergence Detection: Enables traders to spot divergences between the RSI and MFI values, indicating potential trend reversals.
5. Overbought and Oversold Levels: Highlights overbought and oversold levels on the RSI, aiding in timing entry and exit points.
The Multi-Time Frame RSI with Money Flow Index and Average is a versatile tool that can be applied to various trading strategies, including trend following, swing trading, and mean reversion. Traders can adjust the time frame settings to suit their preferences and trading style.
Note: It's important to use this indicator in conjunction with other technical analysis tools and indicators to validate signals and make informed trading decisions.
RSI Screener and Divergence [5ema]
Displayed on the RSI chart according to a custom timeframe.
Displays the RSI tracking table of various timeframes.
Identify normal divergence, hidden divergence on RSI chat.
Show buy and sell signals (strong, weak) on the board.
Send notifications when RSI has a buy or sell signal.
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I reused some functions, made by (i believe that):
©paaax : The table position function.
@everget : The RSI divergence function.
@QuantNomad : The function calculated value and array to show on table for input symbols.
I have commented in my code. Thanks so much!
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How it works:
1. Input :
input.int length of RSI => calculate RSI.
input.int upper/lower => checking RSI overbought/oversold.
input.int right bars / left bars => returns price of the pivot low & high point => checking divergence.
input.int range upper / lower bars => compare the low & high point => checking divergence.
input.timeframe => request.security another time frame.
input.string table position => display screener table.
2. Input bool:
plot RSI on chart.
Plot Regular Bullish divergence .
Regular Bearish divergence.
Hidden Bullish divergence .
Hidden Bearish divergence.
3. Basic calculated:
Make function for RSI , pivot low & high point of RSI and price.
Request.security that function for earch time frame.
Result RSI, Divergence.
4. Condition of signal:
Buy condition:
RSI oversold (1)
Bullish divergence (2).
=> Buy if (1) and (2), review buy (1) or (2).
Sell condition:
RSI overbought (3).
Bearish divergence (4).
=> Sell if (3) and (4), review sell (3) or (4).
5. Table screener:
Time frame.
RSI (green - oversold, red - overbought)
Divergence (⬈⬈ - regular bullish , ⬊⬊ regular bearish , ⬊ - hidden bullish , ⬈ - hidden bearish ).
Signal (🟢 - Buy, 🔴 - sell, green 〇 - review buy, red 〇 - review sell)
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
RSI Strategy - Backtest [AlgoRider]█ OVERVIEW
Hello dear Tradingviewers !
We share with you this new indicator which simulates a trading strategy based solely on the well-known technical indicator RSI . We designed it for the sole educational and analytical purposes of showing novice traders and new investors that basing a trading strategy only on one such technical indicator is not necessarily a good thing to do. We do not recommend to apply this strategy for real.
Thanks to this indicator redesigned in our own way by incorporating our simple and easy-to-use Backtest functionality, you will be able to see and report on the performance and results that such a strategy has produced in the past.
The configuration window has also been designed to be easily readable and simple to use. Our goal is to make parameter customization as easy as possible.
█ HOW THE STRATEGY WORKS
• The script will trigger Long entries when the price crosses upwards the Oversold zone (Default 38.2) and Short entries when the price crosses downward the Overbought zone (Default 61.8).
• A Short signal ends a Long trade, a Long signal ends a Short trade.
• The script also allows setting up custom TP and SL.
• Several options allow you to reverse entry and exit conditions of trades. You can choose to reverse entries or/and exits (Ex: when the script detects a Long Entry, it will actually trigger a Short trade).
• You can also change the entry conditions of the strategy. Instead of entering oversold/overbought zone conditions, it will trigger entries when the Rsi changes direction and reverses (Ex: when the rsi has been going down for 5 candles, and the rsi starts going up) , regardless of the area in which the RSI is located.
• There is no repaint, once an entry/exit symbol or drawing is displayed it doesn't change anymore. The Short and Long signals appear at the open of the candles, just after the signal was confirmed at the close of the previous candle. The custom TP and custom SL signals can appear when a candle is not yet finished, but once displayed they don't change.
█ HOW TO PROCEED
1 — Once the script is applied to your chart, it already works with its default settings. You can already see the performance of the strategy in the data table directly on the chart (in the top right corner by default).
2 — You can customize the strategy and influence the results/performance by modifying its parameters. 4 types of parameters are present and can be modified.
3 — You can use this indicator in all types of markets.
4 — You can apply the script in every timeframe.
█ PARAMETERS
• Settings For Backtesting
- Strategy : Choose from a drop-down list if the strategy should execute only Long trades or only Short trades or both. Default Both.
- Invest. : Choose the amount you want to invest in the simulation. Default 10000.
- Position : Choose the amount of the position (Size order) that will be used during the simulation. This will be the $ amount staked/involved for each trade entry.
Ex: If you put 20000 in position and 10000 in Invest. We consider that you use at least a leverage x2. Default 10000.
- Slipp. TP : Choose the amount in percentage of average slippage for Take Profits. This parameter makes it possible to predict a potential gap between the theoretical exit price for each TP (On the graph) and the real exit price on an exchange when implementing the strategy for real (slippage may be due to a time lag of a few seconds from execution time of the order on the exchange and/or due to the execution of a market order).
Ex: If a TP exit order of a Long trade, with entry $19000 (on BTCUSDT ), is carried out in theory on the chart at $20000, in practice on the exchange the script have indeed sent an exit order at 20000 , but if the true exit price is 20050, the TP slippage is then +0.25%. Default 0.
- Slipp. SL : Choose the amount in percentage of average slippage for Stop Losses. This parameter makes it possible to predict a potential gap between the theoretical exit price for each SL (On the graph) and the real exit price on an exchange when implementing the strategy for real.
Ex: If an SL exit order of a Long trade, entry $19000 (on BTCUSDT ), is carried out in theory on the chart at $18000, in practice on the exchange the script have indeed sent an exit order at 18000 $, but if the true exit price is 17950, the slippage SL is then +0.278%. Default 0.
- Fees % : Choose the percentage amount of fees applied to each trade to simulate the application of the strategy on the exchange of your choice. Applies to the entry and exit of each trade. Ex: For Binance Futures: 0.04; For Bybit futures: 0.06; For Ftx Futures: 0.075. Default 0.
- Cumulate Trades : If you check this, the Backtest will use 100% of the balance as Order Size (Position) for All or in the next X consecutive trades. Default not checked.
⚠️ Be Careful please, this option is available to show the full extent and possibilities of the algorithm when pushed to its limits thanks to the accumulation of profits (cumulative earnings ), but it is a strategy that involves great risk. If a bad trade suffers a -50% loss, 50% of the account balance is lost, if the position is liquidated, the entire account balance is lost.
- All : If you check this All trades will be accumulated. Default not checked.
- Consecutive Trades : Choose the number of trades to accumulate. After X consecutive trades, the algorithm reassigns the initial order size to the current one and starts again for X consecutive trades. Minimum Value 2, Default 2.
• Change Entry & Exit conditions
- Rsi Turns Up/Down : Enable this option to change conditions for trade entries. For Long entries : It will start a Long trade when RSI turns up and the RSI was falling on the last X bar(s). For Short entries : It will start a Short trade when RSI turns down and the RSI was rising on the last X bar(s). Default not checked.
- After Falling/Rising Bars(s) : Choose the number of bars/candles since which the price was falling/rising. Default 5.
- Reverse Entries : Enable this option to reverse conditions for trade entries. When a Short signal appears, it will actually start a Long trade. When a Long signal appears, it will actually start a Short trade. Default not checked.
- Reverse Exits : Enable this option to reverse conditions for trade exits. Default not checked.
- Safety Stop Loss : Enable this option to quickly cut the trade when the price turns quickly. For a Long trade : if the price returns to the oversold zone, it ends the trade. For a Short trade : if the price returns to the overbought zone, it ends the trade. Mainly useful for basic strategy (overbought/oversold conditions). Default not checked.
• Settings To Optimize Performances and Risk Management
- Len RSI : The length of RSI . Default 14.
- Overbuy : You can change the limit value of the overbought zone of the RSI . Default 61.8.
- Oversell : You can change the limit value of the oversell zone of the RSI . Default 38.2.
- Use TP / Use SL : If you check these, the algorithm will trigger personalized trade exit signals when the price evolution has reached the amounts indicated since the trade entry. Default not Checked.
- % TP - SL : Indicate here the personalized amount in percentage that you want for your Take Profit and Stop Loss of each trade. Default 15-5.
• Settings For Appearances
- Small-size Data Table : If you check this, the data table will become smaller to free up more space on the chart to make it visually more pleasing. Default not checked.
Hide Table /
- Hide Labels / : You can check these to get a cleaner chart and focus only on what interests you in the indicator. Default not checked.
Hide Risk-Reward Areas
█ LIMITATIONS
• ⚠️ We repeat it once again, this strategy is not intended to be reproduced in real conditions, we have designed it for educational and analytical purposes only.
• Even if you see good performances when you backtest the strategy, you must take into account that these results are performed in the past and that in no case does this guarantee that these same performances will be repeated again in the future.
• When you run for real a trading strategy you must be aware of the fact that you are solely responsible for the results that you will be able to obtain and you must be aware of the possibility at all times of partial or even total losses of your invested capital.
• Keep in mind that generating profits in trading is difficult. A strategy can perform very well at one time in the past during a period that is favorable to it, then from one day to the next it can give really bad results for several months or years.
• When backtesting a trading strategy, there are many factors to consider, not just trade entries to which you add a Take Profit and sometimes a Stop Loss. You must at least take into account the size of the position in relation to the capital you want to invest, the trading fees, the slippages (which can be really important depending on the exchange on which you are trading and depending on the asset you are trading), trading frequency, risk management, momentum, volumes and even more.
The information published here on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
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Important to note : our indicators with the same backtesting system are published in separate publications, because putting them together in a single script would considerably slow down the execution of the script. In addition each indicator, even when it is based on a simple technical indicator, has several options, parameters and entry/exit conditions specific to the underlying technical indicator. Finally, we want to keep the simplicity of use, configuration and understanding of our indicator by not mixing strategies that have nothing to do with each other.
RSI Big Data Query | assetsandcoffee=============================================
…………………………..📖Description📚………………..……….
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The Relative Strength Index(RSI) is a powerful momentum indicator used to determine when price is overbought or oversold. Fairly straight forward indicator that several new and veteran traders implement into their trading strategies.
What my implementation of the RSI aims to answer is "how do we get the most out of it?". The data is there, a programming language is provided to you, might as well combine those two to query useful information.
Enjoy!
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………………………...⚙️RSI Settings⚙️………………...………
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➡️Group : RSI Restriction Settings
1.) Indicators work well for specific timeframes. That being said, you have the option to activate the restriction for the indicator to work only the daily or 4 day, or on all time frames.
➡️Group : RSI Regular Settings
1.) RSI fast, moderate and slow lengths allow you to see the strength of each RSI given a particular amount of data.
- The more data that is taken in, the slower a line will move up or down for the RSI. That is how those mountains, hills, icebergs, however way you want to see the RSI data, were visually made possible.
- The strength of this visual implementation is shown, when we visit a resistance or support line more than once.
2.) RSI upper, middle, and lower thresholds were selected based on traditional specifications.
3.) Adjust RSI Labels allows the movement of the RSI fast, moderate, and slow labels left or right based on user preference.
➡️Group : RSI Big Data Query Settings
1.) Lookback Period For Longest Time Spent Above & Below Midline?
- The higher the lookback period, the more accurate your entry and exits may be, when attempting to time when a ticker will cross above or below the midline.
- If "NaN" shows as a result, it means the lookback period is set too high. The ticker has not been around long enough on the requested timeframe to produce a result.
2.) Lookback Period For Highest & Lowest RSI; Above and Below Midline?
- Attempting to sell the top or buy the dip? Exiting and entering as close to the peaks and troughs is a good place to start.
3.) Adjust Big Data Query Label allows the movement of the RSI big data query label left or right based on user preference.
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....🎉🎉🎉Before You Go🎉🎉🎉…..
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Leave a like👍 and/or comment💬.
We appreciate and value everyone's feedback.
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"Keeping it short and sweet as always"
- assetsandcoffee📈☕
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..📚Indicator Legacy/Definition(s)📖..
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www.investopedia.com
RSI Bands [APIDEVs]RSI BANDS:
It is an exclusive product of ApiDevs , this indicator selectively integrates a series of highly advanced algorithms that aim to provide the trader with an effective and profitable trading system, based on a series of conditions that project the price direction with a reasonable probability.
This indicator bears the name of “RSI Bands” , this is because we have based this trading system on the “Relative Strength Index (RSI)” , the strength of this indicator is centennial and we at APIDEVs have decided to focus our efforts on the development of powerful tools based on the favorite indicators of the afternoon.
WHAT IT HAS INCORPORATED:
1. Exponential Moving Average (EMAs): The RSI Bands has, by default, a band composed of two moving averages of 10 and 55 exponential periods, which can be modified in the indicator menu.
• Possibility of changing the value of the EMAs.
• Function was enabled to change the color and transparency of the bands.
• Visual alerts SHORT (L) and LONG (L) were added when there is the crossing of the EMAS.
• Hull Moving Average (HMA) of 100 periods was also incorporated, also modifiable for those who wish to strengthen their visual analysis. (Disabled by default)
• We also add an Exponential Moving Average (EMA) of 200 periods to mark the trend. (Disabled by default).
2. A TR (Average True Range): This indicator has two main functions in the RSI Bands, the first is to mark the trend of the asset and the second is to establish a margin of safety in price volatility, that is, a maximum estimate of the setbacks without this representing a change in the direction of the price.
3. RSI (Relative Strength Index): It was visually incorporated into the RSI Bands, the graph is obtained on the right side and its purpose is to visually indicate where the price is with respect to the RSI PRO+ indicator, offering the following improvements :
• ALERT SYSTEM: THE RSI PRO+ has the ADX incorporated into its algorithm, which allows establishing a filter that will provide reliable inputs, represented by the LONG (L) and SHORT (S) signals.
• FILTER AGAINST TREND: The signals described above will be activated according to the crossing of the RSI above the 50 point, provided that the ADX agrees with the market direction.
• Possibility of deactivating this graphical representation.
4. ADX (Average Directional Index): The ADX in this indicator is intended to estimate the strength of the movement, it is present in each part of the code, either to indicate the strength of the market or to serve as a filter against trend. In the same way, we apply certain exclusive improvements for this indicator:
• It was established as default values of the ADX that the Level Range was 10 and the Level Trend 25. This significantly changes the behavior of this indicator, almost completely eliminating the zone of disinterest that was usually considered.
• A function was activated to paint the sails the color of the ADX.
5. ADX Ocillator: Yes, we developed a Wave oscillator type ADX and incorporated it into this strategy. From this indicator, which we recommend using in conjunction with the RSI Bands, we extracted the LONG (L) and SHORT (S) signals. The ADX Oscillator is the improved version of the traditional ADX as it offers the following improvements:
• Its interpretation is much simpler.
• Allows you to set entry and exit signals during the trend change and during the price path.
• It has an integrated alert system.
STRATEGY PANEL:
This panel is an exclusive creation of APIDEVs , and its purpose is to parameterize five conditionals based on the indicators that make up our RSI strategy, giving the trader an immediate vision of the status of the asset analyzed considering this strategy. That is, we decided to transfer our experience of using this indicator on a panel that will project the price trajectory visually. It has the following characteristics:
• It can be placed anywhere on the screen through the main menu of the indicator, it can even be deactivated.
• It can be resized, we designed this to adapt to all types of screens, including those of mobile phones.
• It has an upper panel called "Project" which will calculate the percentage probability that the price has to take a direction based on all the indicators incorporated into the strategy. Their values range from (+ 100%) to (-100%).
STRATEGY PANEL PARAMETERS:
1. EMAs : This panel has 2 variables:
• LONG : If the fast EMA is above the slow EMA.
• SHORT : If the fast EMA is below the slow EMA.
2. RSI : This panel has 3 variables:
• LONG : The RSI should be bullish (green) and above the 50 point.
• SHORT : The RSI should be bearish (red) and be below the 50 point.
• RANK: (Range)this condition is activated when there is no concordance with the RSI condition and its crossing.
3. ATR : This panel has 2 variables:
• LONG : When the price is above the ATR.
• SHORT : When the price is below the ATR.
4. ADX: This panel has 3 variables:
• LONG : The ADX is green. That is, the DI + is above the DI-.
• SHORT : The ADX is red. That is, the DI- is above the DI +.
• RANK : ADX is below point 10.
It also has a numerical value that indicates the value of the ADX and two texts indicating the strength of the trend:
• Trend (bullish or bearish).
• Strong trend (bullish or bearish).
5. OSC : This panel has 3 variables:
• LONG : The oscillator slopes upward and the built-in ADX is green.
• SHORT : The oscillator slopes downward and the built-in ADX is red.
• RANK : The oscillator slopes downward and the built-in ADX is green and the opposite. In short, there is no coherence in the movement of the oscillator and the projection of the ADX.
RSI+CMO Hybrid IndexThis indicator plots hybrid Relative Strength Index (RSI) and Chande Momentum Oscillator (CMO). The CMO was developed by Tushar Chande. A scientist, an inventor, and a respected trading system developer, Mr. Chande developed the CMO to capture what he calls "pure momentum". I modified the original RSI and CMO so that the RSI+CMO Index value ranges from -100 to +100 and defined as follows. This newly defined hybrid RSI+CMO indicator showed better win rates and better profits than the original CMO strategy.
* I was going to open the script, but recently there was a case of stealing my script and publishing it without permission, so I decided not to disclose it.
▶ Modified RSI = Original RSI - 50
Therefore,
Original RSI (0 ~ 100) → Modified RSI (-50 ~ +50)
▶ Modified CMO = Original CMO * 0.5
Therefore,
Original CMO (-100 ~ +100) → Modified CMO (-50 ~ +50)
▶ RSI+CMO Hybrid Index = Modified RSI + Modified CMO
Therefore,
RSI+CMO Hybrid Index (-100 ~ +100)
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이 지표는 기존의 RSI와 CMO 지표를 수정하여 새롭게 정의한 하이브리드 RSI+CMO 지표입니다. 지표 값의 범위가 -100에서 100의 범위를 가질 수 있도록 기존의 RSI와 CMO를 수정하여 만들었습니다. 이렇게 새롭게 정의된 RSI+CMO 지표는 기존 CMO 전략 대비 승률과 수익이 더 우수합니다. 전략은 별도로 스크립트를 퍼블리쉬할 예정이고 이 지표와 함께 사용해야 Long, Short 신호를 봉마감전에 미리 예측하고 진입할 수 있어 편리합니다.
* 최근에 제 스크립트를 도용/표절하여 무단으로 퍼블리쉬한 사례가 발생하여 더 이상 스크립트는 공개하지 않기로 하였습니다.
RSI Over EMA (Range Lines)This is another version of the RSI over EMA Trend Sniper script that I released here:
This one gives you better control across pairs wither higher volatility with the extra lines and more alert possibilities.
Here are the useful Alert functions within this indicator:
LONGS:
-Aqua line (RSI Line) - Crossing UP (Long Alert) on the Lower Green line
-Aqua line (RSI Line) - Crossing UP (Long Alert) on the Upper Green line
-Aqua line (RSI Line) - Crossing UP (Long Alert) on the Lower Amber line
-Aqua line (RSI Line) - Crossing UP (Long Alert) on the Upper Amber line
-Aqua line (RSI Line) - Crossing UP (Long Alert) on the Lower Red line
-Aqua line (RSI Line) - Crossing UP (Long Alert) on the Upper Red line
SHORTS:
-Aqua line (RSI Line) - Crossing DOWN (Short Alert) on the Lower Green line
-Aqua line (RSI Line) - Crossing DOWN (Short Alert) on the Upper Green line
-Aqua line (RSI Line) - Crossing DOWN (Short Alert) on the Lower Amber line
-Aqua line (RSI Line) - Crossing DOWN (Short Alert) on the Upper Amber line
-Aqua line (RSI Line) - Crossing DOWN (Short Alert) on the Lower Red line
-Aqua line (RSI Line) - Crossing DOWN (Short Alert) on the Upper Red line
You can setup alerts for the Aqua line (RSI Line) 'crossing up' (Long Alert) or 'crossing down' (Short Alert) on any of the colored EMA lines.
By default the lines are spread out at 10/20/30 and that should cover high volatility charts. But, this is customizable and you can reduce the size of Green/Amber/Red lines to try and get a better more focused setup for whichever coin you are trading on. I have found this version of the RSI over EMA to work better with alt coins that are generally more volatile, but using it on Bitcoin works too.
I am using this for Cryptocurrency alerts, but not for automation to enter or exit a trade. It's important to only use this on normal candles, and only use it as a confirmation of a possible good entry or exit.
RSI Moving Average with Signal LineDefault values:
RSI = white
RSI Prime ( RSI of RSI ) = yellow
EMA 34 = blue
EMA 55 = red
They are listed in order of reactiveness to price changes. Think of them like the Williams Alligator...
White and yellow work the fastest, with WHITE being signal and YELLOW being trigger. Great for LTF
Blue and red work the slowest, with BLUE being frequently testing RED as support/resistance. Great for HTF
Long Entry:
RSIs both > SMAS (signal)
RSI > RSI Prime (confirmation)
Long Exit:
RSI < RSI Prime (signal)
RSIs both < SMAs (confirmation)
Short Entry:
RSIs both < SMAS (signal)
RSI < RSI Prime (confirmation)
Short Exit:
RSI > RSI Prime (signal)
RSIs both > SMAS (confirmation)
RSI + Composite RSI with Regular & Hidden Divergences📌 Description (for TradingView Public Publishing):
RSI Composite Pro is a reimagined version of the classic RSI indicator, enhanced with deeper insights. This tool displays both the standard RSI of the current asset and a normalized RSI derived from a reference index (e.g., XU100, NDX, SPX), all on the same panel.
By default, the composite RSI source is automatically selected based on the exchange you're viewing (e.g., BIST → XU100, NASDAQ → NDX, NYSE → SPX). However, users can also manually input any symbol through the settings panel.
Additionally, you can apply smoothing filters such as SMA, EMA, or Bollinger Bands to both RSI lines.
The script also detects regular and hidden divergences on RSI, helping to identify potential trend reversal points.
Key Features:
Dual RSI view: asset RSI vs. composite market RSI
Auto or manual selection of composite RSI source
Supports MA smoothing and Bollinger Band overlays
Automatic detection of regular & hidden divergences
Clean and customizable visualization on a single chart
This indicator is flexible and can be tailored to your trading style, suitable for both short-term trading and trend analysis.
RSI-Colored Price Candles with BackgroundThis Pine Script indicator visually enhances price candles based on **RSI (Relative Strength Index)** behavior, helping traders quickly assess momentum directly on the price chart.
**RSI Calculation:**
The RSI is computed using a traditional 14-period lookback. It uses `ta.rma()` to smooth average gains and losses, and then transforms the result into an RSI value between 0 and 100. This value is used to determine both **candle color** and optional **background shading**.
**Candle Coloring:**
Each price candle is recolored based on the current RSI value:
- If RSI is **greater than or equal to 50**, the candle is **bright green**, indicating bullish momentum.
- If RSI is **less than 50**, the candle is **bright red**, indicating bearish momentum.
The actual OHLC values of the candles remain unchanged. Only their color is modified to reflect RSI strength.
**Optional Background Highlighting:**
A user setting called `Show Overbought/Oversold Background` lets traders toggle background shading on or off. When enabled:
- If RSI is **above 70**, a soft **green** background appears, signaling overbought conditions.
- If RSI is **below 30**, a soft **red** background appears, signaling oversold conditions.
This provides an intuitive visual cue that highlights potential reversal or exhaustion zones based on RSI extremes.
**Custom Settings:**
- The RSI length and source are customizable.
- Background highlighting is turned **off by default**, giving users a clean chart unless they choose to enable it.
**Purpose and Use:**
This script is designed for traders who want to visually integrate RSI momentum directly into their chart candles, reducing the need to look away from price action. It's clean, responsive, and adjustable — perfect for intraday or swing traders who value simplicity backed by momentum data.
RSI Alerts – Live & ConfirmedThe RSI Alerts – Live & Confirmed indicator enhances the traditional Relative Strength Index (RSI) by providing real-time alerts and confirmed breakout signals when RSI reaches key levels. It also features a dynamic RSI line color change for better visualization.
Key Features:
✅ Live & Confirmed Alerts:
Live Alert Mode: Triggers when RSI touches overbought (70) or oversold (30).
Confirmed Alert Mode: Triggers only when RSI closes above/below these levels, reducing false signals.
✅ Dynamic RSI Line Coloring:
Above 70: RSI turns green, indicating an overbought condition.
Below 30: RSI turns red, indicating an oversold condition.
Between 30 and 70: RSI remains blue, its normal color, ensuring no color leaks into invalid zones.
✅ Customizable RSI Settings:
Adjustable RSI length, overbought/oversold levels, and alert preferences.
Mid-Level (50) line for trend bias reference.
This indicator is perfect for traders who rely on RSI signals and want clear visual cues and real-time alerts for improved decision-making.
RSI Classic calculationClassic RSI with Moving Average
This script implements the Classic RSI (Relative Strength Index) method with the option to use either an Exponential Moving Average (EMA) or a Simple Moving Average (SMA) for smoothing the gains and losses. This custom implementation primarily aims to resolve a specific issue I encountered when cross-referencing RSI values with Python-based data, which is calculated differently than in Pine Script. However, the methodology here can benefit anyone who needs to align RSI calculations across different programming languages or platforms.
The Problem:
When working with Python for data analysis, the RSI values are calculated differently. The smoothing method, for example, can vary—RMA (Relative Moving Average) may be used instead of SMA or EMA, resulting in discrepancies when comparing RSI values across systems. To solve this problem, this script allows for the same type of smoothing to be applied (EMA or SMA) as used in Python, ensuring consistency in the data.
Why This Implementation:
The main goal of this approach was to align RSI calculations across Python and Pine Script so that I could cross-check the results accurately. By offering both EMA and SMA options, this script bridges the gap between Pine Script and Python, ensuring that the data is comparable and consistent. While this particular issue arose from my work with Python, this solution is valuable for anyone dealing with cross-platform RSI comparisons in different coding languages or systems.
Benefits:
Cross-Platform Consistency: This script ensures that RSI values calculated in Pine Script are directly comparable to those from Python (or any other platform), which is crucial for accurate analysis, especially in automated trading systems.
Flexibility: The ability to choose between EMA and SMA provides flexibility in line with the specific needs of your strategy or data source.
Ease of Use: The RSI is plotted with overbought and oversold levels clearly marked, making it easy to visualize and use in decision-making processes.
Limitations:
Calculation Differences: While this script bridges the gap between Pine Script and Python, if you're working with a different platform or coding language that uses variations like RMA, small discrepancies may still arise.
Sensitivity Trade-Off: The choice between EMA and SMA impacts the sensitivity of the RSI. EMA responds quicker to recent price changes, which could lead to faster signals, while SMA provides a more stable but slower response.
Conclusion:
This Classic RSI script, with its customizable moving average type (EMA or SMA), not only solves the issue I faced with Python-based calculations but also provides a solution for anyone needing consistency across different programming languages and platforms. Whether you're working with Pine Script, Python, or other languages, this script ensures that your RSI values are aligned for more accurate cross-platform analysis. However, always be mindful of the small differences that can arise when different smoothing techniques (like RMA) are used in other systems.
RSI of Accumulation/DistributionHow to Use the RSI of Accumulation/Distribution Indicator:
1. Identify Overbought/Oversold Conditions:
Overbought: When the RSI of the ADL is above 70, it indicates that the asset may be overbought and could be due for a pullback or correction.
Oversold: When the RSI of the ADL is below 30, it suggests that the asset may be oversold and could be poised for a rebound.
2. Look for Divergences:
Bullish Divergence: If the price is making lower lows while the RSI of the ADL is making higher lows, it can signal a potential reversal to the upside.
Bearish Divergence: If the price is making higher highs while the RSI of the ADL is making lower highs, it can indicate a potential reversal to the downside.
3. Confirm Trend Strength:
Use the RSI of the ADL to confirm the strength of a trend. For example, if the RSI is consistently above 50 during an uptrend, it suggests strong buying pressure and the trend is likely to continue.
Conversely, if the RSI is consistently below 50 during a downtrend, it indicates strong selling pressure and the trend is likely to persist.
4. Monitor for Reversals:
When the RSI of the ADL crosses above 50, it can signal a potential bullish reversal.
When the RSI of the ADL crosses below 50, it can signal a potential bearish reversal.
Is It Worth It?
The RSI of the Accumulation/Distribution Line can be a valuable tool for traders looking to gain insights into market momentum and trend strength. Here are a few reasons why it might be worth considering:
1. Volume and Price Combination: By combining price action (RSI) with volume-based analysis (ADL), this indicator provides a more comprehensive view of market dynamics.
2. Divergence Detection: It helps identify divergences between price and volume, which can be early signals of potential reversals.
3. Trend Confirmation: It offers additional confirmation of trend strength and potential reversal points, helping traders make more informed decisions.
However, like any indicator, it's important to use it in conjunction with other analysis methods and not rely on it solely for trading decisions. Backtesting the indicator on historical data and combining it with other technical analysis tools can improve its effectiveness.
Feel free to test the script in TradingView and see how it performs in different market conditions. If you have any specific questions or need further assistance, let me know! 😊
RSI (Pr)The "RSI (Pr)" indicator enhances the traditional Relative Strength Index (RSI) by incorporating dynamic bands and highlighting extreme market conditions directly on the price chart. This approach offers traders a more intuitive visualization of potential overbought and oversold zones, facilitating timely decision-making.
Key Features:
Dynamic RSI Bands: The indicator calculates upper and lower bands based on user-defined overbought and oversold levels. These bands adjust in real-time, providing a responsive measure of market extremes.
Visual Alerts: Background colors change when the price moves outside the RSI bands, offering immediate visual cues of potential market reversals.
Buy/Sell Signals: The script places "BUY" and "SELL" labels on the chart when the price crosses above or below the RSI bands, assisting traders in identifying potential entry and exit points.
How It Works:
RSI Calculation: The script computes the RSI based on the closing price and a user-defined length (default is 14 periods).
Exponential Moving Averages (EMA): It calculates the EMA of the maximum gains and losses to smooth out the data, enhancing the reliability of the RSI bands.
Upper and Lower Bands: Using the smoothed data, the script determines the upper (resistance) and lower (support) bands, which represent dynamic overbought and oversold levels.
Visual Indicators: The script plots the upper and lower bands, as well as a midline, directly on the price chart. Background colors change when the price exceeds these bands, and "BUY" or "SELL" labels appear at crossover points.
Usage:
Overbought Conditions: When the price crosses above the upper band, it may indicate an overbought condition, suggesting a potential selling opportunity.
Oversold Conditions: When the price crosses below the lower band, it may indicate an oversold condition, suggesting a potential buying opportunity.
Customization:
Users can adjust the following parameters to suit their trading preferences:
RSI Overbought Level: Default is 70.
RSI Oversold Level: Default is 30.
RSI Length: Default is 14 periods.
Disclaimer:
This indicator is designed for educational purposes and should not be construed as financial advice. Trading involves significant risk, and it's essential to conduct thorough research and consider your financial situation before making trading decisions. Past performance is not indicative of future results.
By integrating dynamic RSI bands and clear visual signals directly onto the price chart, this indicator aims to provide traders with actionable insights into market conditions, enhancing the traditional RSI analysis.
RSI OB/OS Strategy Analyzer█ OVERVIEW
The RSI OB/OS Strategy Analyzer is a comprehensive trading tool designed to help traders identify and evaluate overbought/oversold reversal opportunities using the Relative Strength Index (RSI). It provides visual signals, performance metrics, and a detailed table to analyze the effectiveness of RSI-based strategies over a user-defined lookback period.
█ KEY FEATURES
RSI Calculation
Calculates RSI with customizable period (default 14)
Plots dynamic overbought (70) and oversold (30) levels
Adds background coloring for OB/OS regions
Reversal Signals
Identifies signals based on RSI crossing OB/OS levels
Two entry strategies available:
Revert Cross: Triggers when RSI exits OB/OS zone
Cross Threshold: Triggers when RSI enters OB/OS zone
Trade Direction
Users can select a trade bias:
Long: Focuses on oversold reversals (bullish signals)
Short: Focuses on overbought reversals (bearish signals)
Performance Metrics
Calculates three key statistics for each lookback period:
Win Rate: Percentage of profitable trades
Mean Return: Average return across all trades
Median Return: Median return across all trades
Metrics calculated as percentage changes from entry price
Visual Signals
Dual-layer signal display:
BUY: Green triangles + text labels below price
SELL: Red triangles + text labels above price
Semi-transparent background highlighting in OB/OS zones
Performance Table
Interactive table showing metrics for each lookback period
Color-coded visualization:
Win Rate: Gradient from red (low) to green (high)
Returns: Green for positive, red for negative
Time Filtering
Users can define a specific time window for the indicator to analyze trades, ensuring that performance metrics are calculated only for the desired period.
Customizable Display
Adjustable table font sizes: Auto/Small/Normal/Large
Toggle option for table visibility
█ PURPOSE
The RSI OB/OS Strategy Analyzer helps traders:
Identify mean-reversion opportunities through RSI extremes
Backtest entry strategy effectiveness across multiple time horizons
Optimize trade timing through visual historical performance data
Quickly assess strategy robustness with color-coded metrics
█ IDEAL USERS
Counter-Trend Traders: Looking to capitalize on RSI extremes
Systematic Traders: Needing quantitative strategy validation
Educational Users: Studying RSI behavior in different market conditions
Multi-Timeframe Analysts: Interested in forward returns analysis
RSI - EMA - WMA ( Phat-Truong )Indicator: RSI ( EMA - WMA )
This indicator, named "RSI ( EMA - WMA )", is a versatile tool designed to provide insights into market momentum and trend strength by combining multiple technical indicators.
The Relative Strength Index (RSI) is a popular momentum oscillator used to measure the speed and change of price movements. In this indicator, RSI is plotted alongside its Exponential Moving Average (EMA) and Weighted Moving Average (WMA). EMA and WMA are smoothing techniques applied to RSI to help identify trends more clearly.
Key features of this indicator include:
RSI: The main RSI line is plotted on the chart, offering insights into overbought and oversold conditions.
EMA of RSI: The Exponential Moving Average of RSI smooths out short-term fluctuations, aiding in trend identification.
WMA of RSI: The Weighted Moving Average of RSI gives more weight to recent data points, providing a faster response to price changes.
Additionally, this indicator marks specific RSI levels considered as bullish and bearish trends, helping traders identify potential entry or exit points based on market sentiment.
By combining these technical indicators, traders can gain a comprehensive understanding of market dynamics, helping them make more informed trading decisions.
