OPEN-SOURCE SCRIPT
RSI [MTO]
This indicator is a custom adaptation of the classic Relative Strength Index (RSI), developed and made available under the Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) license, according to Creative Commons guidelines.
Adapted by: MTO – Robertrader.
🎯 Key Features:
Enhanced Calculation:
Implements the Augmented RSI concept, taking into account recent highs and lows, offering greater accuracy in detecting changes in relative strength.
Highly customizable:
Selectable smoothing methods: EMA, SMA, RMA, or TMA.
Full visual configuration: colors, fills, and automatic gradients.
Integrated Signal Line:
Additional smoothing to confirm important crossovers, reducing premature entries.
Modern aesthetic:
Visual highlighting of overbought and oversold zones, automatically adapting to chart colors.
📌 Adjustment recommendation for volatile markets:
For assets like Bitcoin, Forex, or indices, it is recommended to set the following levels:
Overbought: 75
Oversold: 25
✅ These levels reduce the occurrence of false signals and enhance reversal detection in highly volatile markets.
🧠 Practical application:
Ideal for short and medium-term trades (intraday and swing).
Can be enhanced with other tools: support and resistance zones, order flow analysis, or Price Action.
📜 License:
This work is licensed under the Creative Commons - Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0).
More info: creativecommons.org/licenses/by-nc-sa/4.0/
Adapted by: MTO – Robertrader.
🎯 Key Features:
Enhanced Calculation:
Implements the Augmented RSI concept, taking into account recent highs and lows, offering greater accuracy in detecting changes in relative strength.
Highly customizable:
Selectable smoothing methods: EMA, SMA, RMA, or TMA.
Full visual configuration: colors, fills, and automatic gradients.
Integrated Signal Line:
Additional smoothing to confirm important crossovers, reducing premature entries.
Modern aesthetic:
Visual highlighting of overbought and oversold zones, automatically adapting to chart colors.
📌 Adjustment recommendation for volatile markets:
For assets like Bitcoin, Forex, or indices, it is recommended to set the following levels:
Overbought: 75
Oversold: 25
✅ These levels reduce the occurrence of false signals and enhance reversal detection in highly volatile markets.
🧠 Practical application:
Ideal for short and medium-term trades (intraday and swing).
Can be enhanced with other tools: support and resistance zones, order flow analysis, or Price Action.
📜 License:
This work is licensed under the Creative Commons - Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0).
More info: creativecommons.org/licenses/by-nc-sa/4.0/
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
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.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
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.