INVITE-ONLY SCRIPT
RSI Candles
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RSI Candles
HOW Does it work ?
* RSI - Relative Strength Index is a very well known to understand the trend strength, Many researches have been done on RSI.
* The Indicator defines itself as the Candles are formed of RSI Value of Defined Length and Chart Time Frame.
RSI Candles comprises of following --
* Candles formed from RSI value.
* Predefined Moving average limited line for breakout.
* Up Trend Area, Down Trend Area, Consolidation Area when RSI is in-between 55 to 45.
User Inputs --
# User can change length of RSI.
# Over Bought / Sold values can be changed.
How to learn the trend ?
# Time Frame shall be more than 2 min. for better outcome.
# If the market is below the line then look for falling in RSI and one can learn the down trend.
# Over bought / Over sold be clearly seen in chart so trend reversal can be grabbed.
# The data for the indicator will be very restricted, most of the parts in indicator wont work when the market closes.
# Pre-Opening or Post -Market data is tried to be ignored.
# Utmost Care is taken to implement the suggestions of users and also tried to keep the chart neat and clean.
Disclaimer
# The indicator to be used for understanding / learning the markets.
# User is responsible for his / her profits / losses, that may occur during the markets.
HOW Does it work ?
* RSI - Relative Strength Index is a very well known to understand the trend strength, Many researches have been done on RSI.
* The Indicator defines itself as the Candles are formed of RSI Value of Defined Length and Chart Time Frame.
RSI Candles comprises of following --
* Candles formed from RSI value.
* Predefined Moving average limited line for breakout.
* Up Trend Area, Down Trend Area, Consolidation Area when RSI is in-between 55 to 45.
User Inputs --
# User can change length of RSI.
# Over Bought / Sold values can be changed.
How to learn the trend ?
# Time Frame shall be more than 2 min. for better outcome.
# If the market is below the line then look for falling in RSI and one can learn the down trend.
# Over bought / Over sold be clearly seen in chart so trend reversal can be grabbed.
# The data for the indicator will be very restricted, most of the parts in indicator wont work when the market closes.
# Pre-Opening or Post -Market data is tried to be ignored.
# Utmost Care is taken to implement the suggestions of users and also tried to keep the chart neat and clean.
Disclaimer
# The indicator to be used for understanding / learning the markets.
# User is responsible for his / her profits / losses, that may occur during the markets.
Note di rilascio
What is updated ?# RSI Based moving average line was having issue, now rectified.
# Some cosmetic changes.
Note di rilascio
What is updated?# In this Version v3.23, below is updated: -
* Fine Tunings in candle formation.
* Grammatically corrected words.
* Some cosmetic changes.
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