RSI & MACD Exit Indicator

16 mar

This indicator is designed to assist traders in identifying potential exit points for long and short trades by combining the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD).
Unlike traditional indicators that provide entry signals, this script is specifically optimized for exit strategies, helping traders manage their positions efficiently.

How It Works
The script identifies potential exit points based on the following conditions:
🔴 Exit Long:
- RSI crosses above the user-defined overbought threshold (default: 65).
- MACD crosses below the signal line (bearish crossover).
🟢 Exit Short:
- RSI crosses below the user-defined oversold threshold (default: 35).
- MACD crosses above the signal line (bullish crossover).
When these conditions align, a label appears on the price chart indicating an exit point.

Key Features
- Customizable RSI & MACD Settings – Adjust lengths and thresholds to suit your strategy.
- ATR-Based Adjustments – The script incorporates an ATR multiplier for dynamic signal adjustments based on market volatility.
- Clear Visual Labels – Exit points are clearly marked on price candles.
- Color-Coded Background – Highlights buy/sell zones for quick identification.
- Alerts for Exit Signals – Receive notifications when exit conditions are met.
- Clean Chart Design – The MACD plots are placed below the main chart to avoid clutter.

How to Use
⚠ This indicator is for exits only and does not generate buy/sell entry signals.
For long trades: When an Exit Long signal appears, traders may consider closing or reducing their long positions.
For short trades: When an Exit Short signal appears, traders may consider closing or reducing their short positions.
ATR Settings: Users can adjust the ATR multiplier to fine-tune the signal frequency based on market conditions.

Important Notes
- This indicator does not guarantee future performance—it should be used alongside other analysis methods.
- No financial advice – Always use proper risk management.
- TradingView users who do not read Pine Script can still fully utilize this script thanks to the detailed signal labels and alerts.

💡 Developed with advice from CoffeeshopCrypto based on user feedback.

21 mar

Note di rilascio

UPD
This indicator is designed to assist traders in identifying potential exit points for long and short trades by combining the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators.

Rather than providing entry signals, this script focuses solely on exit conditions, offering traders additional insights for managing their positions. By requiring both RSI and MACD to align, it helps users make more informed decisions about closing trades. Additionally, it includes ATR-based adjustments, which allow traders to fine-tune sensitivity based on market volatility.

How It Works
This indicator identifies possible exit points based on the following criteria:
🔴 Exit Long (Close or reduce long positions)
- RSI crosses above a user-defined overbought level (default: 65).
- MACD crosses below its signal line (bearish crossover).

🟢 Exit Short (Close or reduce short positions)
- RSI crosses below a user-defined oversold level (default: 35).
- MACD crosses above its signal line (bullish crossover).
When these conditions occur together, a label appears on the price chart to highlight a potential exit opportunity.

This script is designed for traders who want to refine their exit strategies rather than relying on a single indicator. It does not predict future price movements but instead provides an objective framework for identifying exit opportunities based on RSI and MACD alignment.

This script incorporates Average True Range (ATR) adjustments to refine exit signals based on market volatility. ATR is a widely used volatility measure that calculates the average range between high and low prices over a specified period.
In this indicator:
- The ATR is calculated using a user-defined ATR Length (default: 14).
- A customizable ATR Multiplier is applied to adjust signal sensitivity.
- This ATR-adjusted value acts as a filter, helping to avoid false signals in highly volatile or low-volatility market conditions.
By modifying the ATR Multiplier, traders can fine-tune how sensitive the indicator is to price movements:
- Higher ATR Multiplier → Reduces signal frequency, filtering out noise in choppy markets.
- Lower ATR Multiplier → Increases sensitivity, generating more frequent exit signals.

How to Use This Indicator
⚠ This script is for exits only and does not generate buy/sell entry signals.
- For long trades: When an Exit Long signal appears, traders may consider closing or reducing their long positions.
- For short trades: When an Exit Short signal appears, traders may consider closing or reducing their short positions.
- ATR Settings: The ATR multiplier can be adjusted to modify signal frequency. A higher multiplier can help reduce false signals, while a lower multiplier increases sensitivity.

Important Notes
- This indicator does not guarantee successful trades or future performance. It is a tool for decision-making support and should be used alongside other risk management strategies.
- No financial advice – Traders should assess their own risk tolerance before using this indicator.
- Usable without Pine Script knowledge – All signals are clearly labeled for ease of use.

25 mar

Note di rilascio

UPD
🚨 ATR Removed: This script previously included ATR-based adjustments, but they have been removed to focus solely on RSI and MACD. ATR was excluded because it did not directly contribute to the primary function of this indicator—identifying momentum-based exit points.