Get started

Relative Strength Index (RSI)

Relative Strength ComparisonThis script plots the ratio between a ticker and the selected index. Currently, I have US equities indexes listed + BTC. It's a great way to check for relative strength, determine if absolute highs relative to the ratio are being made, etc. Additionally, optional comparison of the RSI is included. I was just testing something out but figured I'd leave in here because why not. If you use this, enable the 1.0 line. Script is a bit slow, will try to optimize eventually.
Pine Script™ indicator
by imbes2
Cumulative RSI StrategyI suppose nothing drives a point home like a 10+ year backtest! A couple of weeks ago I published a custom indicator called the Cumulative RSI. This indicator was straight out of chapter 9 of "Short Term Trading Strategies That Work." Today I am publishing a basic sample strategy in that uses the Cumulative RSI as its only entry and exit signals on a Nasdaq 100 leveraged index ETF (TQQQ). In this example, the indicator is being used as a longer term strategy with just 10% leverage over the account equity and a $25k start balance. If I had it 10 years ago I would probably be retired! I'm sharing because I've found that it can provide an edge when determining exit/take profit points for trades. Many traders wait for a price reversal / trailing-stop to exit a trade when it starts losing. I've found that, using tools like the Cumulative RSI, you can achieve better exit points over the long term. Disclaimer: Even though this example significantly beats buy and hold, I wouldn't advise using it as a stand-alone strategy without significant additions/modifications to strategy and risk management functions.
Pine Script™ strategy
by TradeAutomation
18
Zendog SHORT DCA Trigger RSI+StochRSIThis is a script that generates a SELL signal by combining RSI and Stochastic RSI into the same script and that can easily be integrated into an external Backtester like the one I published. The script uses default values for RSI and Stochastic RSI overbought conditions. They should be adjusted for specific assets and timeframes so they better match the current trend. Please beware you might overfit settings to match a short timeframe trend (like a few days or hours). If this is the case once the trend changes the signals will not be accurate. The purpose of this script is to provide some pine code that can be used to further combine multiple indicators into a SHORT Deal Start signal. Integration with the Zendog Backtster: - add the backtester on the chart - add this script on the chart - in the Zendog backtester Deal start type select "External indicator" - in the Zendog backtester Indicator source and value select "Zendog SHORT DCA Trigger RSI+StochRSI: SIGNAL"
Pine Script™ indicator
by zendog123
3
Zendog LONG DCA Trigger RSI+StochRSIThis is a script that generates a BUY signal by combining RSI and Stochastic RSI into the same script and that can easily be integrated into an external Backtester like the one I published. The script uses default values for RSI and Stochastic RSI oversold conditions. They should be adjusted for specific assets and timeframes so they better match the current trend. Please beware you might overfit settings to match a short timeframe trend (like a few days or hours). If this is the case once the trend changes the signals will not be accurate. The purpose of this script is to provide some pine code that can be used to further combine multiple indicators into a LONG Deal Start signal. Integration with the Zendog Backtster: - add the backtester on the chart - add this script on the chart - in the Zendog backtester Deal start type select "External indicator" - in the Zendog backtester Indicator source and value select "Zendog LONG DCA Trigger RSI+StochRSI: SIGNAL"
Pine Script™ indicator
by zendog123
12
RSI Trend LineI took a concept similar to the "Adaptive RSI" to get the RSI overlaid on a price chart. The problem I have with the Adaptive RSI is to me it sticks too closely to price. I wanted something much more visually helpful that can provide actual tradable signals and strategies. The orange line you are seeing is the "RSI Trend Line" The further the RSI moves away from a value of 50 (the "zero line"), the more you see this orange line move away from price. This helps visualize the strength of price pushing away from a neutral value to a position of strength or weakness-- if orange is below price then relative strength is high; if orange is above price then relative strength is low. When price is equal to the orange RSI line, the RSI is at a value of 50. In addition to the trend line, you can enable bands which reflect Overbought and Oversold levels . If you leave the responsiveness to a value of 1.0 and removed any smoothing, these should pretty accurately reflect an actual RSI chart topping the OB and OS lines (default 70 and 30, respectively). (They're still very close with different responsiveness and smoothing values) The conversion or scaling of RSI value onto price comes with a bit of a quirk which I decided to leave to the user to determine how they want it applied. So the setting "Responsiveness" will impact the sort of aggressiveness of the RSI trend line as well as the the size of the bands. You could think of this in some ways as the OPPOSITE of the multiple setting on a Bollinger or Keltner band-- 1.0 will make for the widest band, 2.0 is the default and my preference, and you can move it up to a value of 5.0. Here are some examples of how you could use the indicator for trade signals-- And here's my thought on the current state (as of 10/06) on indices with regards to this indicator-
Pine Script™ indicator
by chrism665
13
Multiple Stoch.+RSI+Stoch. RSI A.Multiple TA, it is a combination of RSI, Stochastic RSI and Stochastic indicators with many setting options. An additional RSI can be displayed showing the RSI values of the previous candle. This has an impact on the buy and sell signal. It offers an alert condition for the buy signal that is available in the Create Alert dialog box. Please note that the indicator does NOT create an alarm, it only offers additional options in the "Create alarm" dialog box. This is not a purchase advice tool or does not ask for any other guarantee, so use this indicator only at your own risk. German: Multiple TA, es handelt sich um eine Kombination der RSI, Stochastik RSI und Stochastik Indikatoren ‎mit viele Einstellungsmöglichkeiten. Es kann eine zusätzliche RSI angezeigt werden, der die RSI ‎Werte von vorherige Candle anzeigt. Diese hat ein Einfluss auf den Kauf und Verkauf Signal.‎ Es bietet eine Alarmbedingung für die Kaufsignal an, die im Dialogfeld "Alarm erstellen" ‎verfügbar ‎ist. Bitte beachten Sie, dass der Indikator KEINEN Alarm erstellt, sondern nur ‎weitere Optionen im ‎Dialogfeld "Alarm erstellen" bietet.‎ Das ist keine Kaufberatungstools oder bittet keine sonstige Garantie, daher nutzen Sie diesen ‎‎Indikator nur auf eigene Gefahr.‎ ‎
Pine Script™ indicator
by Amir_Tala
RSI - Dynamic Overbought/Oversold RangeDefault overbought/oversold levels of RSI does not hold good for instruments which are trending well. It happens often that instruments keep trading in single half of the range for prolonged time without even touching the other half. This also came up often in tradingview pine chat discussions where I participate regularly. Hence, thought of creating this script to help other scriptors in finding different methods to derive dynamic high/low range of RSI. This can also be adopted for other range bound oscillators - though not inlcuded in this script. ⬜ Method ▶ Derive multitimeframe RSI. Parameters - Resolution, Source and Length are pretty straight forward. Repaint when unchecked uses previous bar value. ▶ Dynamic range detection follows below steps. Get highest and lowest of the oscillator source for Range Length period. Use Detection method further to refine the highest and lowest range. If detection method is "highlow", then it looks for lowest value for high range and highest value for low range. If not, uses moving average. ◽Note: Detection range length is used only for finding highest and lowest of Oscillator value ranges. Further detection range method of highlow and other moving average types use Oscillator length.
Pine Script™ indicator
by Trendoscope
11
Oscillator EdgesAnother simple script to be added on top of other indicators. Simply provides a symbol of varying color depending on the value of the oscillator. Allows up to 4 different colors in each direction. Includes alerts conditions. Demonstration is the indicator being applied to the RSI (purple) included in Market Cipher B. To use, simply add it to your indicator, and choose and oscillator of your choice in the Input Settings. Alternatively, you can just keep it on 'close' and use the built in RSI. Or, you can use the RSI formula on top of something else (if that's your thing). The names are silly, so I hope this is okay with all of you. Let me know what you think, and if there are any problems, questions, or concerns!
Pine Script™ indicator
by jarzido
2
Baekdoo multi OverSold OverBuy colored CandleHi forks, I'm trader Baekdoosan who trading Equity from South Korea. This Baekdoo multi OverSold OverBuy colored candle will give you the idea of multiple indicators in one shot with colored candle. Those indicators tell us that oversold or overbuy statistically. For the color, you can freely change based on your comfort. For me, in Korea white candle has red color and black candle has blue color. So somewhat confusing for you. Anyway you can easily modify color in the script. Please refer this line. barcolor(open<close and result_pos == 4 ? color.new(color.red, 0) : open<close and result_pos == 3 ? color.new(color.red, 25) : open<close and result_pos == 2 ? color.new(color.red, 50) : open<close and result_pos == 1? color.new(color.red, 75) : na) you can see I put different transparency at color.new() function with color code. Let me divide and conquer to explain for up candle white candle and black candle. 1. White candle with 4 oversold signal case with white candle tells us it is almost reached real bottom and try to rebound. In this case, I put vivid color (no transparency) on the candle. And all 4 signal case, I put text on "OverSold". It will not happen frequently. Then 2 approaches can be made. (a) short term approach You can buy on this time. and you set stop loss with open price. This is mainly aimed for technical rebound. (b) long term approach You can accumulate based on your budget with 5 times dividing. At that day might not be the very bottom but those period will most probably real bottom. You can put more weight on latter buy. Let say, 1 : 1.25 : 1.5 : 1.75 : 2.5. So for example, if you have $8,000 to investigate then, buy $1,000 and then $1,250, $1,500, accordingly. If price rebound then don't adding weight on accumulation but with the first amount that you buy(i.e., $1,000 with above example). With this approach, you will not have much stress and you will get profit well. If this is grand bottom case, then you can HODL this long term. What you needs is stick to the plan. :) with 3 signals the color is less vivid, 2 signals is much less vivid, accordingly. 2. Black candle The approaches are opposite to above. The signal will tells us for 4 overBuy signals, then vivid blue candle will be shown. Our strategy is distribute to sell. Please do not sell in one shot. As Newton said, "I can calculate the motions of the heavenly bodies, but not the madness of the people". Strong buy phase, we don't know how far will it go. But indicators will tell us it is quite overSold situation. So what I can suggest you is sell it 10% to 20% on resistance price, and put 50% of lower than certain support price. Remember, accumulation and distribution will always better than one shot trading if you want to survive long time on this war field. Hope this will help your trading on equity as well as crypto. I didn't try it on futures. Best of luck all of you. Gazua~!
Pine Script™ indicator
by traderbaekdoosan
Quick-Glance RSIThis script will draw a live, updating-RSI on the main chart. As the price updates, the RSI line will self-adjust between the highest high an the lowest low for the RSI period. Settings/Customizations: RSI Length : Calculate RSI and draw RSI Line for specified period Overbought Level : Draw maroon box from OB level to highest high. Oversold Level : Draw green box from lowest low to OS level. Scale Offset : Fine-tune location of 0-100 scale. Show Scale : Draw 0-100 levels to the right of the RSI line. Show RSI Line : Draw a line from the start of the RSI period to the current price. Show OB/OS Boxes : Enable or disable background for overbought and oversold areas. Realtime : Draw all data in real time. RSI on overlay chart is same as current RSI on bottom chart RSI without scale, boxes, or RSI Line “Repainting” Note : The current RSI level is calculated in real time as each price changes, so yes this does “repaint” on the current bar. This is by design and will not change the effectiveness of the script. However, if you are using this script to generate signals, uncheck “Realtime” and/or use “once per bar close” for alerts.
Pine Script™ indicator
by xxattaxx
13
Multi timeframes RSI Screener & indicator by noop42Since my previous x4 multi timeframes Stochastic RSI script seems to have been appreciated, I decided to make a 2nd version of this tool which focuses on the RSI indicator only. Default parameters RSI length : 14 Timeframes: 5, 15, 60, 240 OB/OS zones : 70 & 30 Repaint mode: enabled Display lines: enabled Display screener: enabled Convergence warnings: timeframes 1, 2 & 3 Details Repaint mode : Disabling it makes the indicator wait for the current candle to close before to change its value Display lines: Allows you to disable RSI lines drawings, in order to move the screener on your main chart for example. Display screener: Allows you to disable the screener, in order to use RSI lines only OB/OS convergences warnings : Allows you to select which timeframe(s) must be taken into consideration for convergence signals (Selected timeframes can be distinguished in the screener, followed by a * char in the timeframes column) Note The Stochastic RSI version of this tool is available here
Pine Script™ indicator
by noop-noop
3
Take Profit On Trend (by BHD_Trade_Bot)The purpose of strategy is to detect long-term uptrend and short-term downtrend so that you can easy to take profit. The strategy also using BHD unit to detect how big you win and lose, so that you can use this strategy for all coins without worry about it have different percentage of price change. ENTRY The buy order is placed on assets that have long-term uptrend and short-term downtrend: - Long-term uptrend condition: ema200 is going up (rsi200 greater than 51) - Short-term downtrend condition: 2 last candles are down price (use candlestick for less delay) CLOSE The sell order is placed when take profit or stop loss: - Take profit: price increase 1 BHD unit - Stop loss: price decrease 2 BHD units The strategy use $15 and trading fee is 0.1% for each order. So that, in the real-life, if you are using trade bot, it will need $1500 for trading 100 coins at the same time. Pro tip : The 1-hour time frame for altcoin/USDT has the best results on average.
Pine Script™ strategy
by BHD_Trade_Bot