Hello again.

Here I have an improved version of the RSI that is similar to my "+ %B" indicator (that, an improved version of the %B).

This version of the RSI includes candle coloring for bullish or bearish bias (is the RSI above or below its median line?), as well as candle coloring for overbought and oversold areas. Additionally, there is an option for coloring candles based on the RSI crossing up or down its moving average.

So, that takes us on to the moving average. You have a selection of these, namely: SMA , EMA , DEMA , TEMA , HMA , JMA , LSMA , MF, SMA (the default), TMA, VAMA , and WMA . These are all very different, so play around and choose one that fits your trading style, or whatever it is you're looking for (or even turn it off if you like!).

I've added alerts, so you can be alerted based on wherever the RSI goes. Is it oversold? Did it just cross the median? Did it cross up or down its MA?

I hope you enjoy it!
Note di rilascio: Hello. It's me, Scott, with an update to this.
Additions simply include:
1) two more levels--median high and median low-- between overbought/oversold levels and the median level, if you find that useful.
2) alerts for overbought and oversold conditions, median crosses, and MA crosses.
3) multi-timeframe because why not.

Also, please note that I have an identical indicator called +TrueRSI that I really do mean is identical. Tradingview confuses me. I thought that for some reason my script wasn't accepted because it didn't past muster or something, but in reality a weird thing happens where if you favorite the script you are working on, then publish it, the script you saved IS NOT the published one, and you actually have to search for it. So I was like, "oh, they didn't accept it for some reason?" because it wasn't showing my name (therefore not able to be found by anyone) in my favorites section. So, before bothering to search (because why would I think that!?) I made another one and published that. So now there are two of the same indicator under slightly different names. And that's my story. It's stupid, but what can ya do? I also can't delete it, and they probably won't, because they say that goes against there policy, so I probably will have two of the same indicator up here for all eternity. :)
Note di rilascio: In this updated version I've cleaned up the candle coloring code, as well as made some changes to the default colors. I've also made the MA color changing based on its bull/bear bias, and I've done this with the RSI too.
Also, a minor update to the candles: I added a "neutral" color to them based on the RSI's relation to the median and the moving average. Basically if the RSI is below the moving average but above the median line, or above the moving average and below the median line, it is considered neutral. I like it as a way of highlighting indecision, consolidation, or potential reversal points.
Oh, and lastly, you can turn off candle coloring on the inputs screen, so you don't have to individually unclick each box under "style."

Hope you like these updates.
Script open-source

Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

Vuoi usare questo script sui tuoi grafici?


Can you do the same thing for cI8DH's True MACD?