OPEN-SOURCE SCRIPT
Double RSI Crossover
Introduction
The Double RSI Crossover Indicator is a custom TradingView script designed to enhance trading decisions by utilizing two different RSI (Relative Strength Index) values. The indicator provides clear buy and sell signals based on RSI crossovers, helping traders identify trend changes efficiently.
Indicator Setup
Adding the Indicator to TradingView
Open TradingView and navigate to the Pine Script Editor.
Copy and paste the script into the editor.
Click Add to Chart to apply the indicator.
Understanding the RSI Parameters
RSI 1 (Yellow Line): Uses a length of 100 for smoother and long-term trend readings.
RSI 2 (Blue Line): Uses a length of 14 for short-term momentum detection.
Buy & Sell Signal Logic
BUY Signal (Green Arrow Up): Occurs when the Blue RSI (short-term) crosses above the Yellow RSI (long-term), indicating upward momentum.
SELL Signal (Red Arrow Down): Occurs when the Yellow RSI crosses above the Blue RSI, signaling downward momentum.
Alerts & Notifications
The indicator includes built-in alerts for automatic notifications:
BUY Alert: Triggered when a buy signal appears.
SELL Alert: Triggered when a sell signal appears.
To set up alerts:
Open the TradingView Alerts Panel.
Select the Double RSI Crossover Indicator.
Choose the alert condition (BUY Alert or SELL Alert).
Configure notifications as needed (email, SMS, pop-up).
Best Practices for Trading
Always combine this indicator with other technical analysis tools (e.g., support/resistance, volume analysis) for higher accuracy.
Backtest the strategy on different timeframes before using it in live markets.
Avoid trading solely based on crossovers in highly volatile or choppy markets.
The Double RSI Crossover Indicator is a custom TradingView script designed to enhance trading decisions by utilizing two different RSI (Relative Strength Index) values. The indicator provides clear buy and sell signals based on RSI crossovers, helping traders identify trend changes efficiently.
Indicator Setup
Adding the Indicator to TradingView
Open TradingView and navigate to the Pine Script Editor.
Copy and paste the script into the editor.
Click Add to Chart to apply the indicator.
Understanding the RSI Parameters
RSI 1 (Yellow Line): Uses a length of 100 for smoother and long-term trend readings.
RSI 2 (Blue Line): Uses a length of 14 for short-term momentum detection.
Buy & Sell Signal Logic
BUY Signal (Green Arrow Up): Occurs when the Blue RSI (short-term) crosses above the Yellow RSI (long-term), indicating upward momentum.
SELL Signal (Red Arrow Down): Occurs when the Yellow RSI crosses above the Blue RSI, signaling downward momentum.
Alerts & Notifications
The indicator includes built-in alerts for automatic notifications:
BUY Alert: Triggered when a buy signal appears.
SELL Alert: Triggered when a sell signal appears.
To set up alerts:
Open the TradingView Alerts Panel.
Select the Double RSI Crossover Indicator.
Choose the alert condition (BUY Alert or SELL Alert).
Configure notifications as needed (email, SMS, pop-up).
Best Practices for Trading
Always combine this indicator with other technical analysis tools (e.g., support/resistance, volume analysis) for higher accuracy.
Backtest the strategy on different timeframes before using it in live markets.
Avoid trading solely based on crossovers in highly volatile or choppy markets.
Script open-source
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Per aggiungerlo al grafico, mettilo tra i preferiti.
Vuoi usare questo script sui tuoi grafici?
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.