OPEN-SOURCE SCRIPT
Corrected RSI w/ Floating Levels [Loxx]
Updated
Corrected RSI w/ Floating Levels [Loxx] is an RSI indicator with floating levels that attempts to determine the periods of flat and trending periods
Regular RSI value is also displayed (in order to help to determine a trend) but the main value is the "corrected" value. Usage is simple: possible trend change on a color change. For "trend traders" possible usage of longer periods is advised.
Coloration
Included
Regular RSI value is also displayed (in order to help to determine a trend) but the main value is the "corrected" value. Usage is simple: possible trend change on a color change. For "trend traders" possible usage of longer periods is advised.
Coloration
- Regular RSI is shown in yellow
- Green/Red/Gray line is corrected RSI
- Gray boundary lines are floating level
- White dashed line is middle floating level
Included
- Bar coloring
- 3 types of signal output options
- Alerts
- Loxx's Expanded Source Types
- Loxx's RSI Variety RSI types
Release Notes
Small UI fix.Release Notes
Removed unused inputs.
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Open-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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