OPEN-SOURCE SCRIPT
RSI Moving Average Crossovers
Updated
This script is an improved version of the RSI indicator, using a moving average on the RSI itself, as well as two other moving averages used to determine the current trend.
A small screener indicating the current movement is displayed in the bottom-left zone of the chart: trend (Bullish/Bearish/Uncertain) and status (Impulse or Correction)
Trends are simply based on moving averages crossovers, coupled to the fact that the current candle closes above the fast MA in a bull trend, and under the fast MA in a bear trend. In other cases, the trend and the movement are considered as "Uncertain" by the indicator.
Options
Defaults Parameters
Don't hesitate to suggest any idea which could improve this indicator.
A small screener indicating the current movement is displayed in the bottom-left zone of the chart: trend (Bullish/Bearish/Uncertain) and status (Impulse or Correction)
Trends are simply based on moving averages crossovers, coupled to the fact that the current candle closes above the fast MA in a bull trend, and under the fast MA in a bear trend. In other cases, the trend and the movement are considered as "Uncertain" by the indicator.
Options
- Various types of moving averages for the RSI and trend MA
- Show/Hide crossovers between the RSI and its MA
- Color the RSI normal zone with the current trend/movement colors
- Show/Hide the screener indicating the current movement
Defaults Parameters
- Fast MA 20
- Slow MA 50
- MA source: Close
- RSI Length 14
- RSI MA: SMMA (RMA)
- RSI MA Length: 20
Don't hesitate to suggest any idea which could improve this indicator.
Release Notes
Updates- Trend moving average crossovers are now displayed as xcrosses on the indicator (can be disabled)
- Overbought and oversold levels can be modified in options
Release Notes
moving average crosses title modified Release Notes
50% line addedOpen-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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