OPEN-SOURCE SCRIPT
RSI Candles [cI8DH]
Updated
This is candle visualization of regular RSI. That's all.
I have seen two other RSI candles, but their implementation is not correct. The high on RSI usually matches the low on price and vice versa. I have completely turned off the wicks so you can safely use this indicator as a replacement for regular RSI.
I have seen two other RSI candles, but their implementation is not correct. The high on RSI usually matches the low on price and vice versa. I have completely turned off the wicks so you can safely use this indicator as a replacement for regular RSI.
Release Notes
added a band as requested by my friendRelease Notes
- Added dynamic inner band that can be used during sideways periods- Implemented the True RSI fix explained here
![True Relative Strength Index (True RSI / TRSI) [cI8DH]](https://s3.tradingview.com/k/kfFjkxCa_mid.png)
Release Notes
- added standard deviation inner band calculation methodRelease Notes
- minor code optimizationOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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