Zaree - RSI Gradient FillDescription:
The "Zaree - RSI Gradient Fill" (RGF) indicator is a technical analysis tool designed to enhance the interpretation of the Relative Strength Index (RSI) by incorporating visual cues through gradient fill. This indicator aids traders in identifying potential overbought and oversold conditions in the market using the RSI as a key reference.
Details of the Indicator:
The indicator calculates the RSI of a selected source based on user-defined settings for length and source.
Traders have the option to choose from various types of moving averages (SMA, EMA, SMMA, WMA) to calculate the RSI.
RSI values and their corresponding moving average values are plotted on the chart for visual analysis.
The indicator offers customization through input settings for RSI length, RSI source, and moving average type and length.
Upper and lower bands for the RSI are displayed on the chart, providing visual cues for potential overbought and oversold conditions.
A center line is plotted on the chart to help traders identify the equilibrium point of the RSI.
The gradient fill feature enhances the visualization by coloring the space between the RSI plot and the center line based on RSI levels.
How to Use the Indicator:
Specify the RSI length and source for calculation.
Choose the desired moving average type and set the length for the moving average.
Observe the RSI values, moving average lines, and the center line plotted on the chart.
Pay attention to the position of the RSI values relative to the upper and lower bands. Values above the upper band suggest potential overbought conditions, while values below the lower band indicate potential oversold conditions.
Interpret the gradient fill between the RSI plot and the center line. The color changes provide additional visual cues about the RSI's strength compared to the center line.
Example of Usage:
As an experienced swing trader, you can leverage the RGF indicator to fine-tune your trading decisions. Here's an example of how you might use the indicator:
Select your preferred RSI length and source, such as the closing price.
Choose "SMA" as the moving average type and set the length to 14.
Observe the RSI values plotted on the chart along with the upper and lower bands.
Pay special attention to the gradient fill between the RSI plot and the center line. This coloring offers valuable insights into the RSI's position relative to equilibrium.
Look for instances where the RSI values cross above or below the upper and lower bands. These crossings can signal potential trend shifts or reversals.
Use the gradient fill colors to quickly assess the strength of the RSI's deviation from the center line.
Remember that the RGF indicator is a powerful tool to complement your trading strategy. Consider combining its insights with other technical and fundamental analyses for well-informed trading decisions.
Feel free to adjust the indicator settings according to your trading preferences and style. While the RGF indicator provides valuable visual cues, always consider the broader context of the market before making trading choices.
Cerca negli script per "rsi"
Double Relative Strength Index (Double RSI)# Double Relative Strength Index (Double RSI) Indicator
The Double Relative Strength Index (Double RSI) is a custom trading indicator for the TradingView platform. It provides traders with two Relative Strength Index (RSI) bands, a fast RSI, and a slow RSI, which can be helpful in identifying potential entry and exit points in the market.
## Features
- **Uses 2 RSI Bands:** The indicator displays two RSI lines on the chart, providing insights into the short-term and long-term strength of the asset's price movement.
- **Fast and Slow RSI:** The fast RSI uses a shorter length, while the slow RSI uses a longer length, allowing traders to observe different time frames of price momentum.
- **Smoothing:** To reduce noise and improve the readability of the RSI lines, the indicator offers multiple smoothing options such as RMA, SMA, EMA, WMA, and HMA.
- **Crossover and Crossunder Signals:** The indicator identifies potential trading signals when the fast RSI crosses above or below the slow RSI. These events are visually highlighted on the chart with color-coded candlesticks.
- **RSI Bands:** The indicator also includes colored bands that represent different RSI levels, such as 80%, 75%, 60%, 50%, 45%, 25%, and 20%. These bands help visualize the RSI's current position relative to overbought and oversold conditions.
## How to Use
1. Add the "Double RSI" indicator to your TradingView chart.
2. Customize the input parameters according to your preferences, such as the lengths of the fast and slow RSIs and the smoothing method.
3. The indicator will display two RSI lines on the chart, each with its own color.
4. Look for crossover events where the fast RSI line crosses above the slow RSI line, indicating a potential bullish signal.
5. Watch for crossunder events where the fast RSI line crosses below the slow RSI line, indicating a potential bearish signal.
6. The colored bands represent different RSI levels. When the RSI is in the overbought (high) or oversold (low) regions, it may suggest a potential reversal in price direction.
## Disclaimer
Please remember that the Double RSI indicator is provided for informational purposes only and should not be considered as financial advice or a standalone trading strategy. Always perform your own research, use additional tools and indicators, and consider risk management techniques before making any trading decisions.
**Note:** This code is subject to the terms of the Mozilla Public License 2.0. For more details, refer to the (mozilla.org).
Global & local RSI / quantifytoolsAs the terms global and local imply, global RSI describes broad relative strength, whereas local RSI describes local relative strength within the broad moves. A macro and micro view of relative strength so to speak. Global and local RSI are simply regular RSI and stochastic RSI. Local RSI extremes ( stochastic RSI oversold/overbought) often mark a pivot in RSI which naturally reflects to price. Local RSI extremes are visualized inside the global RSI bands (upper band for overbought, lower band for oversold) in a "heat map" style.
By default:
Stochastic RSI >= 75 = yellow
Stochastic RSI >= 87 = orange
Stochastic RSI >= 100 = pink
Users also have the ability smooth the RSI with their preferred smoothing method ( SMA , EMA , HMA , RMA, WMA ) and length. This leads to different behavior in RSI, rendering the typical RSI extremes (> 70 or < 30) suboptimal or even useless. By enabling adaptive bands, the extremes are readjusted based on typical RSI pivot points (median pivots ), which gives much more relevant reference points for oversold/overbought conditions in both global and local RSI. This feature can be used without smoothing, but it rarely provides a meaningful difference, unless the RSI calculation length is messed with.
Global RSI can be plotted as candles, bars or a line. Candles and bars can be useful for detecting rejections (wicks) in relative strength, the same you would with OHLC data. Sometimes there are "hidden rejections" that are visible in relative strength but not on OHLC data, which naturally gives an advantage. All colors can be adjusted in the input menu. You also have a real-time view of the current RSI states in top right corner. Available alerts are the following: global RSI overbought, global RSI oversold, local RSI overbought and local RSI oversold.
Everything RSIThis indicator includes:
RSI Candles set to the default 14 length (un check Borders in the Style tab to see the candlesticks better)
I like using the wicks as an early warning for a possible trend change, which is generally in the opposite direction of the wicks.
It's also easier for me to draw trend lines using the RSI Candles vs the rsi plot line.
40 ema of the RSI Candles
2nd RSI set to the 20 length , which plots just inside the wicks of the RSI Candles. This RSI also highlights Oversold and Overbought levels.
I sometimes leave the RSI Candle Borders checked and use the 20 RSI plot with the wicks of the RSI Candles
Signals to look for Short or Long opportunities , which use the 5 sma of the RSI Candles crossing under the overbought and over the
oversold levels. If you'd like to plot the 5 sma, remove the // at the beginning of the code on line 72.
3nd RSI set to the default 14 length which can be set to a different timeframe as the current chart. Default setting is the 1h.
This RSI plots a + at the top of the indicator when it's above the 50 level and an x at the bottom of the indicator when it's below the 50 level.
For me, this is just a visual aid when I'm scalping on lower timeframes.
If the 1h RSI is above the 50 level, I focus on long scalps. If the 1h RSI is below the 50 level, I focus on short scalps.
RSI Cloud which is formed by filling in the area between the 14 ema of both the 7 RSI and 28 RSI.
I used part of @FnM_Capital 's Trend-Sniper script for my RSI Candles. Thank you! You're extremely talented and deserve all of the credit for your work.
I'd also like to thank @SeanNance for answering all of my random coding questions!!!
I've added the indicator to the example twice to show a couple of the ways I view the RSI's.
The top indicator shows the RSI Candle Borders "un checked" and without the 2nd RSI plot.
The bottom indicator shows RSI Candle Borders "checked", using 2nd RSI plot with the RSI Candle Wicks.
Hancock - RSI [Session]This is an improvement of my RSI Volume indicator.
I have made a session based RSI indicator which helps to aid the decision making upon session opens and gives a good indication of trend during. It also has various fixes for bugs found in the above indicator.
It has multiple settings to configure:
Use session: This toggles the RSI to be session based mode.
Session - Time: The session hours for the RSI .
Session - Days of Week: This is the days for the session based RSI to use.
Session - Mode: The RSI is reset when a new session starts. This mode adjusts how the initial value of the RSI is calculated:
OC: RSI uses the absolute open - close * volume value.
TR: RSI uses the true range * volume value.
VOL: RSI uses the volume value.
TF - Resolution: This is the lower time frame to be used in calculating the wick adjusted buy and sell volume used in the calculation of Volume weighted RSI . A lower time frame produces more accurate buy and sell volumes.
Use Volume: Enabling this produces a Volume weighted RSI . Disabled produces a normal RSI .
Use Wicks: Enabling this adjusts the calculation for buy and sell volume by taking wicks into account.
RSI - Length: This is the length to be used for the RSI . If session based this is the maximum value the RSI length can be - length can be shorter to not include previous session data.
RSI - Overbought: This is the "overbought" level for the RSI .
RSI - Oversold: This is the "oversold" level for the RSI .
RSI - Threshold: This is the threshold used to indicate trend change colours on the RSI .
Happy Trading
Hancock
(JS) Ultimate RSISo my goal here was to combine all of my RSI ideas into a single indicator in order to make kind of a "Swiss Army Knife" version of the Relative Strength Index ...
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So, let's begin with the first RSI indicator I made, which is the RSIDVW (Divergence/Volume Weighted);
To rephrase my original post, the "divergence/volume weighted" portion is meant to expand upon the current RSI format by adding more variables into the equation.
The standard RSI is based off one value that you select (open, close, OHLC4, HLC3, etc.) while this version takes three variables into account.
The default setting is to have RSI normal without anything added to it (Divergence Weight = 0)
1st - it takes the standard variable that RSI normally uses.
2nd - it factors RSI divergence by taking the RSI change % and price change % to form a ratio. Using this ratio, I duplicated the RSI formula and created a divergence RS to be factored in with the standard price RS .
3rd - it takes Relative Volume and amplifies/weakens the move based upon volume confirmation. (So if Relative Volume for a price bar is 1.0, the RSI plot would be the same as it normally would)
So to explain the parameters
- Relative Volume Length: This uses the RV length you specify to determine spikes in volume (or lack of volume ), which then is added into the formula to influence the strength of the RSI move
- RV x Divergence: This is how I calculated the original formula, but you can leave this unchecked to turn Relative Volume off, or apply elsewhere.
- RV x RS: There's two sides, Divergence RS and Standard RS - these check marks allow you to select which part you prefer to be multiplied by Relative Volume .
Checking neither turns off Relative Volume , while checking both amplifies its effects by placing it on both sides of the equation.
-Divergence Weight: This controls how much the DVW portion of the formula influences the RSI plot. As I referred to earlier, default is 0 making RSI normal. The Scale is 0-2, so 1.0 would be the same as 50%.
When I do have DVW on, I generally set it to 0.5
-SMA Divergence: To smooth, or not to smooth, that is the question. UJsing an SMA here is much smoother in my opinon, but leaving it unchecked runs it through an RMA the same way standard RSI is calculated.
-Show Fractal Channel: This allows you to see the whole fractal channel around the RSI (This portion of the code, compliments of the original Ricardo Santos fractal script)
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The next portion of the script is adding a "Slow RSI"...
This is rather simple really, it allows you to add a second RSI plot so that you can watch for crossovers between fast and slow lines.
-Slow RSI: This turns on the second RSI Plot.
-Slow RSI Length: This determines the length of the second RSI Plot.
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Pivot Point RSI was something a friend of mine requested I make which turned out pretty cool, I thought... It is also available in this indicator.
-Pivot Points: Selecting this enables the rest of the pivot point related parts of the script
If Pivot Points isn't selected, none of the following things will work
-Plot Pivot: Plots the pivot point .
-Plot S1/R1: Plots S1/R1.
-Plot S2/R2: Plots S2/R2.
-Plot S3/R3: Plots S3/R3.
-Plot S4/R4: Plots S4/R4.
-Plot S5/R5: Plots S5/R5.
-Plot Halfway Points: Plots a line between each pivot .
-Show Pivot Labels: Shows the proper label for each pivot .
When using intraday charts, from a 15 minute interval or less the pivots are calculated based on a single days worth of price action, above that the distance expands.
Here are the current resolutions Pivot Points will work with:
Minutes - 1 , 2, 3, 5, 10, 13, 15, 20, 30, 39, 78, 130, 195
Hours - 1, 2, 3, 4, 5, 6
Daily
Weekly
Currently not available on seconds or monthly
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Background Colors
Background Colors: I have six color schemes I created for this which can be toggled here (they can be edited).
Gray Background for Dark Mode: Having this on looks much better when using dark mode on your charts.
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Now finally the last portion, Fibonacci Levels
-Fibonacci Levels: This is off, by default, which then uses the standard levels on RSI (30-50-70). When turned on, it removes these and marks fib levels from 0.146 through 0.886.
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So the quick rundown:
Ultimate RSI contains "divergence/volume weighted" modifications, a slow RSI plot, pivot points , and Fibonacci levels all while auto-plotting divergence and having the trend illustrated in the background colors.
RSI has always been my "go to" indicator, so I hope you all enjoy this as much as I do!
Indicators: 6 RSI variationsAs we all know, as published by Wilder, RSI makes use of "CLOSE" values. You probably have experimented changing the input to hl2 or hlc3 . I have included many other RSI variations in this chart. Refer to the developers section below to learn how you can use this code in your scripts.
1) RSI with Volume
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Suggested by Morris, this idea adds volume to the RSI indicator. Because volume offers one means of determining whether money is entering or leaving a market, this would provide additional information with which to make trading decisions.
2) RSI using last Open
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This is RSI with yesterday's open, This basically compares two full days of price action and in the process produces a smoother RSI line.
RSI of today's close is used as a signal (blue line).
3) RSI using SMA
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Wilder used his own MA for calculating RSI (check my post on Wilders MA here - -- This closely resembles EMA). One of Morris's suggestion is to try out SMA.
Compared to normal RSI, you will see more squiggles here.
4) RSI using EMA
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Same idea as above, but using EMA.
5) RSI with Fibs
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How much does RSI retrace? This makes it easy to determine that :)
6) RSI of MACD
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As I mentioned earlier, RSI is a pluggable formula. You can substitute "close" with any data series to derive an index out of it.
This shows RSI of MACD. Note that this is range bound.
More info on RSI variations:
drive.google.com
For Pinescript developers:
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You can substitute your favorite indicator in the RSI function. I have made the RSI calculation a separate function in all the indicators above.
Following are the reusable functions (simply copy to your script and call with proper arguments):
* WiMA(src, length)
* calc_rsi(fv, length): This is equivalent to stock rsi() in TV.
* calc_rsi_volume(fv, length)
* calc_rsi_sma(fv, length)
* calc_rsi_ema(fv, length)
* calc_rsi_lastopen(fv, length)
* calc_macd(src, fast, slow)
You can also pick up fibs drawing code and put in on any indicator.
Triple RSI with Trend Background**Triple RSI Indicator – Description & Usage Guide**
### 🔍 **What It Is**
The **Triple RSI Indicator** is a custom TradingView tool that visualizes **three Relative Strength Index (RSI)** values on the same panel (default periods: **9, 13, 21**) and highlights trend direction using **colored backgrounds**.
It helps traders quickly identify:
* **Bullish momentum** when short-term RSI is leading
* **Bearish or weak momentum** otherwise
---
### ⚙️ **How It Works**
The script calculates:
* **RSI 1 (Fast)** — default period: 9
* **RSI 2 (Medium)** — default period: 13
* **RSI 3 (Slow)** — default period: 21
Then, it compares the values:
* ✅ **Bullish Condition**: RSI 9 > RSI 13 > RSI 21 → **Green Background**
* ❌ **Bearish Condition**: Any other order → **Red Background**
This logic helps spot when momentum is stacking in favor of buyers.
---
### 🧪 **Customization Options**
In the indicator settings panel, you can change:
* RSI lengths (`RSI 1`, `RSI 2`, `RSI 3`)
* Line colors and thickness for each RSI
* Background color for bullish (green) and bearish (red) conditions
---
### 📈 **How to Use It Effectively**
1. **Add the indicator to your chart** via Pine Script editor on TradingView.
2. **Look for green background** — this signals building bullish momentum (RSI stacking).
3. **Use it with other tools** like:
* **Volume spikes**
* **Breakouts above resistance**
* **MACD or EMA confirmation**
4. **Red background** suggests hesitation or bearish shift — consider avoiding long trades or managing risk.
---
### 🧭 **Ideal For**
* Momentum traders
* Swing traders
* Anyone who wants a visual RSI trend filter
MACD of RSI [TORYS]MACD of RSI — Momentum & Divergence Scanner
Description:
This enhanced oscillator applies MACD logic directly to the Relative Strength Index (RSI) rather than price, giving traders a clearer look at internal momentum and early shifts in trend strength. Now featuring a custom histogram, dual MA types, and RSI-based divergence detection — it’s a complete toolkit for identifying exhaustion, acceleration, and hidden reversal points in real time.
How It Works:
Calculates the MACD line as the difference between a fast and slow moving average of RSI. Adds a Signal Line (MA of the MACD) and plots a Histogram to show momentum acceleration/deceleration. Both RSI MAs and the Signal Line can be toggled between EMA and SMA for custom tuning.
Divergence Detection:
Bullish Divergence : Price makes a lower low while RSI makes a higher low → labeled with a green “D” below the curve.
Bearish Divergence : Price makes a higher high while RSI makes a lower high → labeled with a red “D” above the curve.
Configurable lookback window for tuning sensitivity to pivots, with 4 as the sweet spot.
RSI Pivot Dot Signals:
Plots green dots at RSI oversold pivot lows below 30,
Plots red dots at overbought pivot highs above 70.
Helps detect short-term exhaustion or bounce zones, plotted right on the MACD-RSI curve.
RSI 50 Crosses (Optional):
Optional ▲ and ▼ labels when RSI crosses its 50 midline — useful for momentum trend shifts or pullback confirmation, or to detect consolidation.
Histogram:
Plotted as a column chart showing the distance between MACD and Signal Line.
Colored dynamically:
Bright green : Momentum rising above zero
Light green : Weakening above zero
Bright red : Momentum falling below zero
Light red : Weakening below zero
The zero line serves as the mid-point:
Above = Bullish Bias
Below = Bearish Bias
How to Interpret:
Momentum Confirmation:
Use MACD cross above Signal Line with a rising histogram to confirm breakouts or trend entries.
Histogram shrinking near zero = momentum weakening → caution or reversal.
Exhaustion & Reversals:
Dot signals near RSI extremes + histogram peak can suggest overbought/oversold pressure.
Use divergence labels ("D") to spot early reversal signals before price breaks structure.
Inputs & Settings:
RSI Length
Fast/Slow MA Lengths for MACD (applied to RSI)
Signal Line Length
MA Type: Choose between EMA and SMA for MACD and Signal Line
Pivot Sensitivity for dot markers
Divergence Logic Toggle
Show/hide RSI 50 Crosses
Best For:
Traders who want momentum insight from inside RSI, not price
Scalpers using divergence or exhaustion entries
Swing traders seeking entry confirmation from signal crossovers
Anyone using multi-timeframe confluence with RSI and trend filters
Pro Tips:
Combine this with:
Bollinger Bands breakouts and reversals
VWAP or EMAs to filter entries by trend
Volume spikes or BBW squeezes for volatility confirmation
TTM Scalper Alert to sync structure and momentum
Parabolic RSI [ChartPrime]The Parabolic RSI indicator applies the Parabolic SAR directly to the Relative Strength Index (RSI) . This combination helps traders identify trend shifts and potential reversal points within the RSI framework. The indicator provides both regular and strong signals based on whether the Parabolic SAR crosses above or below key RSI thresholds.
⯁ KEY FEATURES
Parabolic SAR Applied to RSI – Tracks momentum shifts within the RSI indicator.
Dynamic SAR Dots – Plots SAR levels directly on the RSI for visual clarity.
Threshold-Based Signal Filtering – Uses upper (70) and lower (30) RSI levels to determine strong signals.
Simple and Strong Signal System :
Big Diamonds (Strong Signals) – Appear when Parabolic SAR crosses above 70 or below 30 RSI, indicating potential reversals.
Small Diamonds (Regular Signals) – Appear when Parabolic SAR flips inside the RSI range, signaling weaker trend shifts.
Chart Overlay Signals – Highlights strong RSI-based trend shifts directly on the price chart.
Fully Customizable – Modify RSI length, SAR parameters, colors, and signal displays.
⯁ HOW TO USE
Look for strong signals (big diamonds) when SAR flips above 70 RSI (overbought) or below 30 RSI (oversold) for potential reversals.
Use regular signals (small diamonds) for minor trend shifts within the RSI range.
Combine with price action and other indicators to confirm entry and exit points.
Adjust the SAR acceleration factors to fine-tune sensitivity based on market conditions.
⯁ CONCLUSION
The Parabolic RSI indicator merges trend-following and momentum-based analysis by applying the Parabolic SAR to RSI. This allows traders to detect trend shifts inside the RSI space with an intuitive diamond-based signal system . Whether used alone or as part of a broader trading strategy, this indicator provides a clear and structured approach to identifying momentum reversals and potential trading opportunities.
Double RSI OscillatorThe Double RSI Oscillator
Hello Gs,
I came back from the dead and tried to see what a little tweak to RSI could do, and I think it is quite interesting and might be worth checking out.
Warning:
This indicator has lots of false signals unfortunatly
How does the DRSI Oscillator work?
Very simple, the DRSI oscillator at the very base is just 2 RSIs that should smooth each other out, making a smoother trend signal generation for trend analysis. One RSI is set to have lower values, by considering the lowest point of the price, and one RSI is set to have higher values using pretty much the same thing. The trend changes from positive to negative if RSI with higher values crosses negative treshhold, and from negative to positive if RSI with lower value crosses positive treshhold. On top of this I added some additional settings to smooth or speed it further, if these were a good idea, I guess only time will tell :D.
Settings
Here is a guide of what setting changes what and how it might be suitable for you:
RSI Optimism length: length of the RSI with higher values (higher values will be better for longer term, lower for medium term)
RSI Pesimism length: length of the RSI with lower values (higher values will be better for longer term, lower for medium term)
Positive treshhold: The value RSI pesimism needs to pass in order to change trends (in case of using RSI avg. the value the average needs to pass), making this higher can give you faster signals, but expect more false ones
Negative treshholds: The value RSI optimism needs to pass in order to change trends (in case of using RSI avg. the value the average needs to pass), lowering this can give you faster signals, but expect more false ones
Smoothing type: Select the type of smoothing (or none) to smooth your signals as you want, this one you need to play around with.
Smoothing length: The length of your smoothing method (if none is selected it wont change anything)
Use RSI average instead: self-explanatory, go figure
Above/Below Mean Trend: Changes the way trend logic works
Why consider using this indicator?
The DRSI Oscillator is a tool that has huge flexibility (due to tons of settings that base RSI doesnt, like trend treshholds), and is smoother allowing traders and investors to get high quality or high speed signals, allowing great entries and exits
Median RSI SD| QuantEdgeB📈 Introducing Median RSI SD by QuantEdgeB
🛠️ Overview
Median RSI SD is a hybrid momentum tool that fuses two powerful techniques: Median Price Filtering and RSI-based Momentum. The result? A cleaner, more responsive oscillator designed to reduce noise and increase clarity in trend detection and potential reversals.
By applying the RSI not to raw price but to the percentile-based median, the indicator adapts better to real structural shifts in the market while filtering out temporary price spikes.
✨ Key Features
🔹 Smoothed RSI Momentum
Utilizes a percentile-based median as input to RSI, reducing volatility and enhancing signal reliability.
🔹 Volatility-Weighted SD Zones
Automatically detects overbought/oversold extremes using ±1 standard deviation bands on the median, adapting to current market volatility.
🔹 Trend Signal Overlay
A directional trend signal (Long / Short / Neutral) is derived from the RSI crossing custom thresholds, combined with position relative to SD bands.
🔹 Visual Labeling System
Optional in-chart labels for Long / Short signals and fully color-customizable theme modes.
📊 How It Works
1️⃣ Median RSI Calculation
Instead of using the close price directly, the script first computes a smoothed median via percentile ranking. RSI is then applied to this filtered stream, improving reactivity without overfitting to short-term noise.
2️⃣ Standard Deviation Filtering
Upper and lower SD bands are calculated around the median to identify extreme conditions. A position near the upper SD while RSI is below the short threshold triggers bearish bias. The reverse applies for longs.
3️⃣ Signal Generation
• ✅ Long Signal → RSI crosses above the Long Threshold (default: 65) and price holds above lower SD.
• ❌ Short Signal → RSI crosses below the Short Threshold (default: 45), typically within upper SD range.
4️⃣ Contextual Highlighting
Zone fills on the chart and RSI subgraph indicate Overbought (>75) and Oversold (<25) conditions for added clarity.
⚙️ Custom Settings
• RSI Length → Default: 21
• Median Length → Default: 10
• Long Threshold → Default: 65
• Short Threshold → Default: 45
• Color Mode → Choose from Strategy, Solar, Warm, Cool, Classic, Magic
• Signal Labels Toggle → Optional in-chart long/short labels
👥 Who Should Use It?
✅ Swing & Momentum Traders → Filter entries based on confirmed directional RSI setups.
✅ Range-Bound Traders → Use SD thresholds to spot fakeouts or exhaustion zones.
✅ Intraday Strategists → Enhanced signal clarity makes it usable even on lower timeframes.
✅ System Builders → Combine this signal with price action or confluence layers for smarter rules.
📌 Conclusion
Median RSI SD by QuantEdgeB is more than just a modified oscillator—it's a robust momentum confirmation framework designed for modern volatility. By replacing noisy price feeds with a statistically stable input and layering RSI + SD logic, this tool provides high-clarity signals without sacrificing responsiveness.
🔹 Key Takeaways:
1️⃣ Median-filtered RSI eliminates noise without lag
2️⃣ Standard deviation bands identify exhaustion zones
3️⃣ Reliable for both trend continuation and mean-reversion strategies
📌 Disclaimer: Past performance is not indicative of future results. No trading strategy can guarantee success in financial markets.
📌 Strategic Advice: Always backtest, optimize, and align parameters with your trading objectives and risk tolerance before live trading.
Modified RSIModified RSI (Round Number RSI)
Category: Oscillator / Momentum
Description
The Modified RSI (Round Number RSI) is an enhanced version of the classic Relative Strength Index (RSI), designed to provide clearer and more structured signals by rounding its values to whole numbers. This modification helps traders filter out noise, making trend analysis and overbought/oversold conditions easier to interpret.
Key Features:
✔ Rounded RSI Values – Instead of fluctuating with decimals, this RSI rounds values to whole numbers (e.g., 30, 50, 70) for clearer decision-making.
✔ Easier Signal Interpretation – Helps traders identify key RSI levels without distractions from small fluctuations.
✔ Customizable Lookback Period – Allows adjustment of RSI sensitivity to fit different trading strategies.
✔ Works on All Timeframes & Assets – Can be applied to stocks, forex, crypto, and futures.
How to Use It:
📌 Overbought & Oversold Levels:
RSI ≥ 70 → Market may be overbought (potential reversal or correction).
RSI ≤ 30 → Market may be oversold (potential buying opportunity).
📌 Trend Confirmation:
RSI staying above 50 signals bullish momentum.
RSI staying below 50 signals bearish momentum.
📌 Divergence Trading:
Price makes a new high, but RSI does not → Bearish Divergence (Possible Downtrend).
Price makes a new low, but RSI does not → Bullish Divergence (Possible Uptrend).
Best Used For:
📈 Day Traders & Swing Traders looking for simplified RSI signals.
📉 Trend Confirmation with moving averages or volume analysis.
⚡ Confluence Trading with support/resistance zones.
Why Use This Over Traditional RSI?
🔹 Removes unnecessary noise by rounding RSI values.
🔹 Helps traders focus on key levels (30, 50, 70).
🔹 Reduces decision fatigue for fast-paced trading.
Normalized RSI Oscillator with DivergencesNormalized RSI with Divergences {A Next-Level Trading Tool}
The Normalized RSI with Divergences indicator is a powerful and innovative tool designed to enhance your trading precision. By normalizing the Relative Strength Index (RSI) and detecting divergences between the standard and normalized RSI, this script helps traders identify potential trend reversals and continuations with remarkable clarity.
Key Features
🔹 Advanced RSI Normalization
• Transforms the traditional RSI into a normalized range of , making overbought and oversold conditions more intuitive.
• Utilizes a dynamic lookback period to adapt to market conditions.
🔹 Divergence Detection for Smarter Trading
• Identifies Bullish, Hidden Bullish, Bearish, and Hidden Bearish divergences by analyzing RSI pivot points.
• Provides early signals of trend reversals and continuations for better trade execution.
🔹 Clear & Visual Trade Signals
• Divergences are automatically labeled on the chart:
o Bullish Divergence: 🟢 “Bull” (Green) – Possible upward reversal.
o Hidden Bullish Divergence: 🟢 “Hid.” (Lime) – Continuation of an uptrend.
o Bearish Divergence: 🔴 “Bear” (Red) – Possible downward reversal.
o Hidden Bearish Divergence: 🟠 “Hid.” (Orange) – Continuation of a downtrend.
🔹 Fully Customizable Inputs
• Adjust RSI period, normalization lookback, and divergence parameters to fit your strategy.
• Tailor the indicator to your preferred trading style and market conditions.
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How It Works
🔹 RSI Normalization Formula:
Norm=2×(RSI−MinMax−Min)−1\text{Norm} = 2 \times \left(\frac{\text{RSI} - \text{Min}}{\text{Max} - \text{Min}}\right) - 1Norm=2×(Max−MinRSI−Min)−1
• Min & Max represent the lowest and highest RSI values over the selected lookback period.
🔹 Divergence Detection Process:
• Identifies pivot points in both the normalized RSI and the standard RSI.
• Compares their directions to detect potential trading signals.
🔹 Real-Time Chart Labeling:
• Uses label.new to visually highlight divergence points for quick and efficient decision-making.
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Input Parameters
• Source: Price source for RSI calculation (Default: hlc3).
• Signal Period: RSI calculation period (Default: 50).
• Lookback Range: Normalization period (Default: 200, Max: 5000).
• Trend Length: Smoothing period for normalized RSI (Default: 5).
• Band Width: Center line & bands calculation period (Default: 34).
• Divergence Range: Lookback period for divergence detection (Default: 5).
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How to Use
1. Add the script to your trading chart.
2. Customize the settings to match your trading approach.
3. Watch for divergence labels to identify potential market moves:
o 🟢 Bullish Divergence: Possible upward reversal.
o 🟢 Hidden Bullish Divergence: Continuation of an uptrend.
o 🔴 Bearish Divergence: Possible downward reversal.
o 🟠 Hidden Bearish Divergence: Continuation of a downtrend.
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Why Use This Indicator?
✅ Enhanced RSI Analysis: Normalization simplifies overbought/oversold conditions.
✅ Crystal-Clear Divergence Signals: Instantly spot key trend shifts.
✅ Fully Customizable: Adjust settings for your specific strategy.
✅ Improve Trade Accuracy: Gain an edge with precise divergence detection.
________________________________________
⚠️ Disclaimer
This script is for educational and informational purposes only. It does not constitute financial advice. Always conduct thorough research and backtesting before using it in live trading.
📜 License
This script is released under the Mozilla Public License 2.0.
Enjoy the Normalized RSI with Divergences indicator, and happy trading! 🚀📈
— Kerem Ertem
Waldo's RSI Color Trend Candles
TradingView Description for Waldo's RSI Color Trend Candles
Title: Waldo's RSI Color Trend Candles
Short Title: Waldo RSI CTC
Overview:
Waldo's RSI Color Trend Candles is a visually intuitive indicator designed to enhance your trading experience by color-coding candlesticks based on the integration of Relative Strength Index (RSI) momentum and moving average trend analysis. This innovative tool overlays directly on your price chart, providing a clear, color-based representation of market sentiment and trend direction.
What is it?
This indicator combines the power of RSI with the simplicity of moving averages to offer traders a unique way to visualize market conditions:
RSI Integration: The RSI is computed with customizable parameters, allowing traders to adjust how momentum is interpreted. The RSI values influence the primary color of the candles, indicating overbought or oversold market states.
Moving Averages: Utilizing two Simple Moving Averages (SMAs) with user-defined lengths, the indicator helps in identifying trend directions through their crossovers. The fast MA and slow MA can be toggled on/off for visual clarity.
Color Trend Candles: The 'Color Trend Candles' feature uses a dynamic color scheme to reflect different market conditions:
Purple for overbought conditions when RSI exceeds the set threshold (default 70).
Blue for oversold conditions when RSI falls below the set threshold (default 44).
Green indicates a bullish trend, confirmed by both price action and RSI being bullish (fast MA crossing above slow MA, with price above the slow MA).
Red signals a bearish trend, when both price and RSI are bearish (fast MA crossing below slow MA, with price below the slow MA).
Gray for neutral or mixed market sentiment, where signals are less clear or contradictory.
How to Use It:
Waldo's RSI Color Trend Candles is tailored for traders who appreciate visual cues in their trading strategy:
Trend and Momentum Insight: The color of each candle gives an immediate visual representation of both the trend (via MA crossovers) and momentum (via RSI). Green and red candles align with bullish or bearish trends, respectively, providing a quick reference for market direction.
Identifying Extreme Conditions: Purple and blue candles highlight potential reversal zones or areas where the market might be overstretched, offering opportunities for contrarian trades or to anticipate market corrections.
Customization: Users can adjust the RSI length, overbought/oversold levels, and the lengths of the moving averages to align with their trading style or the specific characteristics of the asset they're trading.
This customization ensures the indicator can be tailored to various market conditions.
Simplified Decision Making: Designed for traders who prefer a visual approach, this indicator simplifies the decision-making process by encoding complex market data into an easy-to-understand color system.
However, for a robust trading strategy, it's recommended to use it alongside other analytical tools.
Control Over Display: The option to show or hide moving averages and to enable or disable the color-coding of candles provides users with control over how information is presented, allowing for a cleaner chart or more detailed analysis as preferred.
Conclusion:
Waldo's RSI Color Trend Candles offers a fresh, visually appealing method to interpret market trends and momentum through the color of candlesticks. It's ideal for traders looking for a straightforward way to gauge market sentiment at a glance. While this indicator can significantly enhance your trading setup, remember to incorporate it within a broader strategy, using additional confirmation from other indicators or analysis methods to manage risk and validate trading decisions. Dive into the colorful world of trading with Waldo's RSI Color Trend Candles and let the market's mood guide your trades with clarity and ease.
Dynamic RSI Bollinger Bands with Waldo Cloud
TradingView Indicator Description: Dynamic RSI Bollinger Bands with Waldo Cloud
Title: Dynamic RSI Bollinger Bands with Waldo Cloud
Short Title: Dynamic RSI BB Waldo
Overview:
Introducing an experimental indicator, the Dynamic RSI Bollinger Bands with Waldo Cloud, designed for adventurous traders looking to explore new dimensions in technical analysis. This indicator overlays on your chart, providing a unique perspective by integrating the Relative Strength Index (RSI) with Bollinger Bands, creating a dynamic trading tool that adapts to market conditions through the lens of momentum and volatility.
What is it?
This innovative indicator combines the traditional Bollinger Bands with the RSI in a way that hasn't been commonly explored. Here's a breakdown:
RSI Integration: The RSI is calculated with customizable length settings, and its values are used not just for momentum analysis but as the basis for the Bollinger Bands. This means the position and width of the bands are directly influenced by the RSI, offering a visual representation of momentum within the context of price volatility.
Dynamic Bollinger Bands: Instead of using price directly, the Bollinger Bands are calculated using a scaled version of the RSI. This scaling is done to fit the RSI values into the price range, ensuring the bands are relevant to the actual price movement. The standard deviation for these bands is also scaled accordingly, providing a unique volatility measure that's momentum-driven.
Waldo Cloud: Named after a visual representation concept, the 'Waldo Cloud' refers to the colored area between the Bollinger Bands, which changes based on various conditions:
Purple when RSI is overbought.
Blue when RSI is oversold.
Green for bullish conditions, defined by the fast-moving average crossing above the slow one, RSI is bullish, and the price is above the slow MA.
Red for bearish conditions, when the fast MA crosses below the slow MA, the RSI is bearish, and the price is below the slow MA.
Gray for neutral market conditions.
Moving Averages: Two simple moving averages (Fast MA and Slow MA) are included, which can be toggled on or off, offering additional trend analysis through crossovers.
How to Use It:
Given its experimental nature, this indicator should be used with caution and in conjunction with other analysis methods:
Identifying Market Conditions: Use the color of the Waldo Cloud to gauge market sentiment. A green cloud might suggest a good time to consider long positions, while a red cloud could indicate potential shorting opportunities. Purple and blue clouds highlight extreme conditions that might precede reversals.
Volatility and Momentum: The dynamic nature of the Bollinger Bands based on RSI provides insight into how momentum is affecting price volatility. When the bands are wide, it might indicate high momentum and potential trend continuation or reversal, depending on the RSI's position relative to its overbought/oversold levels.
Trend Confirmation: The moving average crossovers can act as confirmation signals. For instance, a bullish crossover (fast MA over slow MA) within a green cloud might strengthen a buy signal, whereas a bearish crossover in a red cloud might reinforce a sell decision.
Customization: Adjust the RSI length, overbought/oversold levels, and moving average lengths to suit different trading styles or market conditions. Experiment with these settings to find what works best for your strategy.
Combining with Other Indicators: Since this is an experimental tool, it's advisable to use it alongside established indicators like traditional Bollinger Bands, MACD, or trend lines to validate signals.
Conclusion:
The Dynamic RSI Bollinger Bands with Waldo Cloud is an experimental venture into combining momentum with volatility visually and interactively. It's designed for traders who are open to exploring new methods of market analysis.
Remember, due to its experimental status, this indicator should be part of a broader trading strategy, and backtesting or paper trading is recommended before applying it in live trading scenarios. Keep an eye on how the market reacts to the signals provided by this indicator and always consider risk management practices.
RShar Seasonal RSISeasonal RSI
This indicator, Seasonal RSI, is designed to enhance trading decisions by combining the **Relative Strength Index (RSI)** with insights derived from historical **seasonality patterns**. It not only calculates RSI but also overlays seasonality data for the current week of the year, providing traders with a more contextualized view of market conditions.
---
### **Key Features**
#### 1. **Relative Strength Index (RSI) Calculation**
- The script calculates the RSI for a user-defined period (`RSI Length`), which is an oscillator used to measure the speed and magnitude of price changes.
- RSI values are plotted on the chart, helping traders identify **overbought** and **oversold** conditions.
- Thresholds for **Overbought** and **Oversold** levels are customizable, with default values of 70 and 30, respectively.
---
#### 2. **Dynamic RSI Coloring Based on Seasonality**
- The color of the RSI line dynamically adjusts based on historical **win rates** for the current week of the year:
- **Bright Green** for win rates > 65%.
- **Green** for win rates between 50-65%.
- **Red** for win rates between 35-50%.
- **Dark Red** for win rates < 35%.
- This feature gives traders a quick visual cue about whether the historical performance of the current week tends to be bullish, neutral, or bearish.
---
#### 3. **Overbought and Oversold Level Visualization**
- Overbought and oversold levels are displayed as dotted horizontal lines on the RSI chart.
- These levels act as visual guides for potential price reversals:
- **Overbought (default 70)**: Indicates potential selling pressure.
- **Oversold (default 30)**: Indicates potential buying pressure.
---
#### 4. **Seasonality Data Integration**
- Historical **seasonality data** is used to analyze price performance patterns for each week of the year:
- **Win Rate**: The percentage of years in which prices closed higher during the current week.
- **Average Weekly Change**: The average price percentage change during the current week over historical data.
- This data provides additional context to RSI readings, helping traders align their strategies with seasonal tendencies.
---
#### 5. **Information Table Overlay**
- A table is displayed in the **top-right corner** of the chart, summarizing seasonality data for the current week:
- **Week Win Rate**: Displays the percentage of historical years where prices rose during this week.
- **Avg Weekly Change**: Shows the average percentage price change for the current week. Positive values are displayed in green, and negative values are shown in red.
- This overlay provides actionable insights without cluttering the chart.
---
### **How It Works**
1. **Seasonality Data**:
- A function (`getSeasonalityForWeek`) fetches or uses predefined mock seasonality data for each week of the year.
- For each week, it calculates:
- The **Win Rate** (percentage of years with positive performance).
- The **Mean Change** (average price percentage change).
2. **RSI Plot**:
- The RSI line is plotted on the chart.
- The line's color is determined by the win rate for the current week, providing a visual representation of historical performance trends.
3. **Threshold Visualization**:
- Horizontal lines for overbought and oversold levels are drawn to assist in identifying potential reversal points.
4. **Information Table**:
- The table summarizes the current week's seasonality data for quick reference, helping traders make data-driven decisions.
---
### **Use Cases**
- **Short-Term Traders**:
Use the dynamic RSI colors and seasonality table to align short-term trades with historical patterns of weekly performance.
- **Swing Traders**:
Identify whether a stock or market is in an overbought/oversold condition while considering the seasonal tendency for the week.
- **Contextual Decision-Making**:
Combine traditional RSI signals with historical data to reduce false signals and improve timing.
---
### **Limitations**
- The script uses **mock seasonality data** in its default state. To make it fully functional, replace the mock data with actual historical performance metrics for your specific ticker or market.
- The indicator does not fetch real-time external data due to Pine Script’s limitations, so all seasonality data must be manually updated or hardcoded.
---
This indicator provides a powerful way to combine technical analysis with historical trends, offering a unique edge to traders by adding seasonal context to RSI signals.
[MAD] Self-Optimizing RSIOverview
This script evaluates multiple RSI lengths within a specified range, calculates performance metrics for each, and identifies the top 3 configurations based on a custom scoring system. It then plots the three best RSI curves and optionally displays a summary table and label.
How It Works
The script calculates a custom RSI for each length in the range.
It simulates entering a long position when RSI crosses below the Buy Value and exits when RSI crosses above the Sell Value.
Each trade's return is stored in the relevant StatsContainer.
Metrics Computation
After all bars have been processed,
* Net Profit,
* Sharpe Ratio, and
* Win Rate
are computed for each RSI length.
A weighted score is then derived using the input weights.
Top 3 Identification
The script finds the three RSI lengths with the highest scores.
The RSI lines for these top 3 lengths are plotted in different colors.
If enabled, a table listing the top 3 results (Rank, RSI length, Sharpe, NetPnL, Win Rate) is shown.
If enabled, a label with the highest-scoring RSI length and its score is placed on the final bar.
Usage Tips
Adjust Min RSI Length and Max RSI Length to explore a narrower or wider range of periods.
Be aware, to high settings will slow down the calculation.
Experiment with different RSI Buy Value and RSI Sell Value settings if you prefer more or fewer trade signals.
Confirm that Min Trades Required aligns with the desired confidence level for the computed metrics.
Modify Weight: Sharpe, Weight: NetProfit, and Weight: WinRate to reflect which metrics are most important.
Troubleshooting
If metrics remain - or NaN, confirm enough trades (Min Trades Required) have occurred.
If no top 3 lines appear, it could mean no valid trades were taken in the specified range, or the script lacks sufficient bars to calculate RSI for some lengths. In this case set better buyvalue and sellvalues in the inputs
Disclaimer
Past performance is not indicative of future results specialy as this indicator can repaint based on max candles in memory which are limited by your subscription
Max The Minner: RSI Bands with Min/Max [by Oberlunar]This Pine Script, titled "Max The Minner: RSI Bands with Min/Max " is a technical indicator designed to visualize RSI-based dynamic bands with local minimum and maximum levels on a chosen timeframe. The script incorporates user-configurable parameters for RSI thresholds, resolution, and color settings, providing traders with a highly customizable tool for analyzing price behavior in relation to overbought and oversold conditions.
Core Functionality
The script begins by calculating the RSI (Relative Strength Index) using user-defined inputs for overbought and oversold levels, the RSI length, and the resolution (default set to daily). The RSI is computed through an exponential moving average (EMA) approach that smooths the upward and downward price movements, creating adaptive upper (ub) and lower (lb) bands based on the overbought and oversold thresholds.
These bands are then dynamically adjusted based on the current price (src) and the EMA calculations. The upper band (ub) represents a potential resistance zone aligned with the RSI overbought level, while the lower band (lb) represents a support zone aligned with the RSI oversold level. The script employs additional calculations to ensure the adaptive nature of these bands, depending on whether the RSI is pushing higher or lower relative to its thresholds.
Local Minima and Maxima
A key feature of the indicator is its ability to track and update local minima and maxima based on the chosen timeframe. The script uses a buffer system that refreshes these levels every three bars to smooth out noise and avoid excessive sensitivity to short-term fluctuations. These local extrema (localMin and localMax) are retrieved from the lower and upper prices of the selected timeframe and act as dynamic benchmarks for evaluating the RSI bands.
Conditional Logic
The script includes conditional logic to determine when the RSI bands intersect with or approach the local maxima or minima. For example:
The upper band (ub) is plotted only if it is below the local maximum, suggesting that price may encounter resistance.
Similarly, the lower band (lb) is plotted only if it is above the local minimum, indicating potential support.
This logic ensures that the bands are contextually relevant to the prevailing market structure, rather than being static overlays.
Visualization
The RSI bands and local extrema are plotted on the chart using color-coded lines, with transparency adjustable through user inputs. The upper band and local maximum are linked with a fill area, visually representing the resistance zone. Similarly, the lower band and local minimum are filled to highlight the support zone. These fills provide a clear depiction of price boundaries, making it easier for traders to spot key levels.
Additionally, the script marks breakout conditions. If the price exceeds the local maximum, a label is plotted at the breakout point with a distinctive style and color. Similarly, a breakout below the local minimum is labeled, providing a visual cue for significant price movements.
Customization
The script offers extensive customization options for both functionality and appearance:
Users can define the overbought and oversold levels for RSI, along with the RSI length and the resolution (timeframe).
Colors for the upper and lower bands, along with transparency (alpha) levels, can be adjusted, allowing for seamless integration with different chart styles.
The periodicity of the local minima and maxima updates is hardcoded to three bars but could be further parameterized for greater flexibility.
This indicator is particularly useful for traders who rely on RSI-based strategies and need a dynamic representation of overbought and oversold conditions in conjunction with local price extremes. By combining RSI bands with the context provided by local minima and maxima, it allows traders to:
Identify potential support and resistance levels.
Visualize price behavior relative to RSI thresholds.
Spot breakout opportunities when price exceeds predefined levels.
Smooth RSI [MarktQuant]This indicator combines elements of the Relative Strength Index (RSI) and Rate of Change (RoC) to provide a smoother and potentially more insightful view of market momentum and price movement. The Smooth RSI calculates RSI values across four price points (high, open, low, close) to average them, offering a less volatile RSI signal. Additionally, it incorporates a Rate of Change for trend confirmation, enhancing the decision-making process for trade entries and exits.
Features:
Multi-RSI Calculation: RSI is computed for high, open, low, and close prices, then averaged to reduce noise.
Trend Confirmation with RoC: Uses the Rate of Change to validate the RSI signals, coloring bars based on the trend direction.
Visual Signals:
Bar colors change based on combined RSI and RoC signals.
Green for bullish signals (RSI above 50 and positive RoC).
Red for bearish signals (RSI below 50 and negative RoC).
Horizontal lines at 30, 50, and 70 to denote overbought, neutral, and oversold conditions.
Customizable Display:
Option to show/hide RSI plot or RoC plot for cleaner charts.
Candle plot overlay option to visualize current price action alongside the indicator.
Inputs:
RSI Length: Default 28. Adjusts the lookback period for RSI calculation.
RoC Length: Default 28. Sets the period for the Rate of Change calculation.
Plot Settings:
Show RSI - Toggle RSI plot visibility.
Show RoC - Toggle RoC plot visibility.
Usage:
Long signals are indicated when the average RSI is above 50 and the RoC is positive.
Short signals are suggested when the average RSI falls below 50 with a negative RoC.
The color coding helps visually confirm trends at a glance.
Notes:
This indicator is best used in conjunction with other analysis methods to confirm signals.
Adjust the length parameters based on your trading timeframe for optimal results.
Disclaimer:
This indicator does not guarantee trading success; use it as part of a comprehensive trading strategy. Always conduct your own analysis before making trading decisions.
Double RSIDouble RSI (DRSI) Indicator
The Double RSI (DRSI) is a technical analysis tool designed to provide traders with enhanced buy and sell signals by identifying uptrend and downtrend thresholds. It refines traditional RSI-based signals by applying a "double calculation" to the Relative Strength Index (RSI), improving precision in detecting trend changes.
Key Concepts Behind the Indicator
1. Double RSI Calculation
The DRSI indicator takes the standard RSI (calculated using the closing price over a specified length) and applies a second RSI calculation to it. This creates a smoother, more refined RSI value, making it more effective at highlighting the general trend of the market.
RSI: Measures the strength of recent price movements, ranging from 0 to 100.
Double RSI (DRSI): Applies the RSI formula to the RSI values themselves, smoothing out fluctuations and generating clearer signals.
How Does the Indicator Work?
The DRSI identifies uptrends and downtrends using two user-defined thresholds:
Uptrend Threshold (Default = 59): A value above this threshold signals a potential shift into an uptrend.
Downtrend Threshold (Default = 52): A value below this threshold signals a potential shift into a downtrend.
Signal Generation
Buy Signal: A crossover occurs when the DRSI value crosses above the Downtrend Threshold, signaling the beginning of an upward movement.
Sell Signal: A crossunder occurs when the DRSI value crosses below the Uptrend Threshold, signaling the beginning of a downward movement.
Customizable Inputs
The indicator offers customizable settings for increased flexibility:
DRSI Length (Default = 13): Determines the lookback period for RSI calculations. A shorter length increases sensitivity, while a longer length smooths the signals.
Uptrend Threshold (Default = 59): Sets the level above which an uptrend is confirmed.
Downtrend Threshold (Default = 52): Sets the level below which a downtrend is confirmed.
Bar Color and Glow Effects: Traders can enable colored candles or glowing DRSI lines for better visual representation.
Why is This Indicator Useful for Traders?
1. Noise Reduction
By applying a second RSI calculation, the DRSI smooths out minor fluctuations and highlights the overall trend.
2. Clear Uptrend and Downtrend Signals
The indicator provides intuitive buy (green arrow) and sell (red arrow) markers, simplifying decision-making.
3. Customizable Thresholds
Traders can adjust the thresholds and length to better suit specific trading strategies or market conditions.
4. Bar Coloring
Bars are color-coded to indicate the trend:
Green (Above Uptrend Threshold): Indicates an uptrend.
Red (Below Downtrend Threshold): Indicates a downtrend.
How the Indicator Appears on the Chart
DRSI Line: A smooth line derived from the double RSI calculation.
Threshold Lines: Two horizontal lines (green for the Uptrend Threshold, red for the Downtrend Threshold) to visualize trend changes.
Colored Candles: Candlesticks dynamically change color based on the trend direction (green for uptrends, red for downtrends).
Buy/Sell Markers:
Buy Signal: A green upward triangle below the bar, marking the start of an uptrend.
Sell Signal: A red downward triangle above the bar, marking the start of a downtrend.
In Summary
The Double RSI (DRSI) indicator is a powerful tool for identifying uptrends and downtrends with:
Smoothed trend detection using double-calculated RSI values.
Clear, actionable buy and sell signals.
Customizable settings to match different trading styles.
By focusing on trend thresholds rather than overbought or oversold levels, the DRSI provides traders with precise, noise-free signals to optimize their trading decisions.
Multiple RSITitle: MultiRSI: A Versatile Multi-Timeframe RSI Indicator
Short Description:
A powerful RSI-based indicator that incorporates three RSI lengths (Fast, Medium, and Slow) to help traders analyze trends, momentum, and potential reversals with clear visual signals.
Full Description:
Overview:
The MultiRSI script provides traders with a dynamic tool to assess market conditions across multiple RSI timeframes. It calculates Fast, Medium, and Slow RSI values, assigns meaningful colors based on trend analysis, and highlights key crossover points for actionable insights.
Key Features:
Triple RSI Display:
Fast RSI (default: 8): Ideal for capturing short-term momentum.
Medium RSI (default: 12): Provides a balanced perspective.
Slow RSI (default: 16): Helps identify longer-term trends.
Trend Analysis:
Color-coded RSI lines:
Green, blue, and aqua for uptrends.
Yellow, orange, and red for potential downtrends.
Visual differentiation for easy interpretation.
Crossover Signals:
Upward Cross (triangle up): Indicates potential bullish momentum.
Downward Cross (triangle down): Suggests possible bearish momentum.
Marked directly on the chart for clarity.
Customizable Inputs:
Adjust RSI lengths to suit your trading strategy.
Grouped input settings for a seamless configuration experience.
Usage Scenarios:
Identify trend strength and reversals in different timeframes.
Spot key momentum shifts with crossover signals.
Combine with other indicators for a comprehensive trading strategy.
How It Works:
The script compares the Fast RSI against the Medium RSI and the Medium RSI against the Slow RSI to determine short-, medium-, and long-term trends. Crossovers between Medium and Slow RSI values signal potential momentum shifts.
Visualization:
Clear, color-coded plots for the three RSI levels.
Highlighted crossovers for quick decision-making.
License:
This script is open-source under the Mozilla Public License 2.0. Feel free to use, modify, and share!
MACD+RSI+BBDESCRIPTION
The MACD + RSI + Bollinger Bands Indicator is a comprehensive technical analysis tool designed for traders and investors to identify potential market trends and reversals. This script combines three indicators: the Moving Average Convergence Divergence (MACD), the Relative Strength Index (RSI), and Bollinger Bands. Each of these indicators provides unique insights into market behavior.
FEATURES
MACD (Moving Average Convergence Divergence)
The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price.
The script calculates the MACD line, the signal line, and the histogram, which visually represents the difference between the MACD line and the signal line.
RSI (Relative Strength Index)
The RSI is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100 and is typically used to identify overbought or oversold conditions.
The script allows users to set custom upper and lower thresholds for the RSI, with default values of 70 and 30, respectively.
Bollinger Bands
Bollinger Bands consist of a middle band (EMA) and two outer bands (standard deviations away from the EMA). They help traders identify volatility and potential price reversals.
The script allows users to customize the length of the Bollinger Bands and the multiplier for the standard deviation.
Color-Coding Logic
The histogram color changes based on the following conditions:
Black: If the RSI is above the upper threshold and the closing price is above the upper Bollinger Band, or if the RSI is below the lower threshold and the closing price is below the lower Bollinger Band.
Green (#4caf50): If the RSI is above the upper threshold but the closing price is not above the upper Bollinger Band.
Light Green (#a5d6a7): If the histogram is positive and the RSI is not above the upper threshold.
Red (#f23645): If the RSI is below the lower threshold but the closing price is not below the lower Bollinger Band.
Light Red (#faa1a4): If the histogram is negative and the RSI is not below the lower threshold.
Inputs
Bollinger Bands Settings
Length: The number of periods for the moving average.
Basis MA Type: The type of moving average (SMA, EMA, SMMA, WMA, VWMA).
Source: The price source for the Bollinger Bands calculation.
StdDev: The multiplier for the standard deviation.
RSI Settings
RSI Length: The number of periods for the RSI calculation.
RSI Upper: The upper threshold for the RSI.
RSI Lower: The lower threshold for the RSI.
Source: The price source for the RSI calculation.
MACD Settings
Fast Length: The length for the fast moving average.
Slow Length: The length for the slow moving average.
Signal Smoothing: The length for the signal line smoothing.
Oscillator MA Type: The type of moving average for the MACD calculation.
Signal Line MA Type: The type of moving average for the signal line.
Usage
This indicator is suitable for various trading strategies, including day trading, swing trading, and long-term investing.
Traders can use the MACD histogram to identify potential buy and sell signals, while the RSI can help confirm overbought or oversold conditions.
The Bollinger Bands provide context for price volatility and potential breakout or reversal points.
Example:
From the example, it can clearly see that the Selling Climax and Buying Climax, marked as orange circle when a black histogram occurs.
Conclusion
The MACD + RSI + Bollinger Bands Indicator is a versatile tool that combines multiple technical analysis methods to provide traders with a comprehensive view of market conditions. By utilizing this script, traders can enhance their analysis and improve their decision-making process.
