Relative Strength Index (RSI) is being used by majority of the traders to get benefitted based on the swings. But these swings are hard to Identify. This Indicator uses 4 major factors for finding the potential reversal points:
* RSI Crossover or crossunder * Relative volume * Overall volume against the moving average volume * Relative closing of the candles * Size of the bars
Please read Instructions carefully before using this indicator * Recommended entry is the OHLC4 of the signal bars. * If signal bar is too large, try to enter in the retracement when another signal comes either through indicator or through types of bars * when signals comes opposite to the trend, then try to wait for the next signal of same type. This creates a RSI-price divergence in confirmation by volume price action * Timeframe can be of your choice
Recommended stoploss should be swing highs or lows
Note di rilascio
Removed gap down and gap up moves
Removed cases where there was sudden volatile in RSi values
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.
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