This indicator shows a histogram of the RSI in relation to an ema of the RSI. The histogram is then smoothed to give early reversal/entry signals.
The actual RSI line with oversold/overbought indication can be displayed or omitted, as preferred. In addiction to the RSI line or as an alternative to it, the background colour can be set to change folowing the RSI signals.
JD.
Note di rilascio
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This indicator is designed to show give early entry signals as well as to follow trend moves, according to different settings.
The indicator shows a histogram of the RSI in relation to an ema of the RSI. The histogram is then smoothed to give early reversal/entry signals. The actual RSI line with oversold/overbought indication can be displayed or omitted, as preferred. in addition to the RSI line or as an alternative to it, the background colour can be set to change folowing the RSI signals. The timeframe can be chosen. Higher timeframes (eg. 3h) tend to give less false signals.
version 4. added support for custom Multiple Time Frame selection.
added option for price bar coloring according to the indicator. (deselecting "borders" in the "style" tab is recommended) price bar coloring can be adjusted for different strategies: 1. following the slope of the histogram (for faster entry/exit signals) 2. according to positive or negative histogram (for longer moves) 3. according to pos. or neg. RSI (for longer term trend holds) 4. uptrend: biased towards faster buy signals and slower sell signals to stay in the uptrend 5. downtrend: biased towards faster sell signals and slower buy signals to stay in the downtrend
A longer timeframe (eg. 3x) is recommended for following trend moves.
JD.
Note di rilascio
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version 5.
Added option for choice of RSI or MFI as base indicator.
Try different strategies to see what works best for RSI or MFI.
@Duyck, i appreciate that there are people out there that take the time to do stuff like this that i can't do myself. these comments go to show that beggars can be choosy.
Duyck
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THIS IS AN A_OLD VERSION OF THE INDICATOR!! (but Tradingview doens't allow for deletion of old/outdated or renamed scripts)
Looks good But where & which one is with non repainting. Plz. Mention clearly Thx.
spin25
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Excellent Script.Highly Useful. Thanks a lot !
Yashin99
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Thanks :)
maxlook36725547
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Hello good time. I use your cash flow indicator for my analysis. Is this MFI indicator capable of setting alarms in Trading View ?? The time frame I use in the cryptocurrency market is 15 minutes. thank you.