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Rsi_overbought

The Forbidden RSI [CHE]My main goal of programming and publishing an indicator is that everyone should have the opportunity to use indicators that do not show false signals or where there is maximum practical use, so I publish this indicator: This script is an advanced variant of the Onset Trend Detector, a technical indicator for trend analysis developed by John F. Ehlers. It is based on a non-linear quotient transformation and expands upon Mr. Ehlers' previous studies, the Super Smoother Filter and the Roofing Filter, to address the lag issue common to moving average type indicators. The algorithm in this script registers the most recent peak value and normalizes it. The normalized value then decays slowly until the next peak swing. The ratio of the previously filtered value to the corresponding peak value is then transformed using a quotient transformation to provide the resulting oscillator. This script implements an indicator called "The forbidden RSI" (TFRSI). This indicator was developed by chervolino as an improvement on the standard Relative Strength Index (RSI), which is a technical indicator used to measure the strength of a trend and identify potential buy and sell signals. The TFRSI is calculated based on the close price and is typically plotted on a scale from -20 to 120, with values above 100 indicating that the asset is overbought (likely to decline in value) and values below 1 indicating that it is oversold (likely to increase in value). The script allows the user to customize the length of the RSI and the length of the trigger used to smooth the signal. In order to calculate the TFRSI, the script first initializes some constants and then performs a series of calculations to determine the value of "HP", "ag", and "Sp". The RSI value is then calculated based on the values of "X", which is based on "ag" and "Sp", and "q1", which is based on "X" and the trigger length. The RSI value is plotted in a chart along with upper and lower bounds and a filled region representing the background. Please check it out, it works perfectly to find good analysis and entries for both, longs and shorts. Best regards Chervolino Note: I hope that the moderators like my script and the explanation and don't delete it this time
Pine Script™ indicator
by chervolino
4
RSI Objective LinesThe RSI is a contrarian indicator bounded between 0 and 100 where values close to the area of 30 represent an oversold condition and values close to the area of 70 represent an overbought condition. Generally, we use the area of 70/75 and the area of 30/25 as extremes that signal a market reversal or a correction. But what if we calculate a simple way to make these levels more dynamic? The main idea from these objective support and resistance levels is that market regime and dynamics move and as such fixed levels are unlikely to always provide value which means that we can try creating variable levels. The objective support and resistance levels are created following these steps: * Calculate a 14-period RSI on the close price, let's call this RSI_Close. * Calculate a 14-period RSI on the high price, let's call this RSI_High. * Calculate a 14-period RSI on the low price, let's call this RSI_Low. * Calculate the maximum range which is the highest value of RSI_High in the last 200 periods minus the lowest value of RSI_Low in the last 200 periods. Let's call this Max_Range * Define the range width. By default, it is set to 5%. Let's call this Threshold. * The objective support is calculated as the sum of the RSI_Low + (Max_Range * Threshold). * The objective resistance is calculated as the sum of the RSI_High - (Max_Range * Threshold). The levels are used in the same way as the oversold and overbought levels. They are more dynamic as they take into account the fluctuations of the RSI so you might see at some point in time a support at 20 and at another at 35.
Pine Script™ indicator
by Sofien-Kaabar
6
PatronsitoPIndicator for the "Patrón Poderoso" strategy. This strategy is based on Bollinger Bands and RSI and try to determine overbought or oversold zones where you can trade. Both indicators are combined to provide a stronger signal. By default, it is considered an overbought zone when price is over BB upper and RSI above 80. That would be a short signal. Price below BB lower and RSI below 20 means an oversold zone and therefore a long signal. EMA 13 (by default) is included as a guide for exiting the operation. Alarms for signals in any direction can be used.
Pine Script™ indicator
by theinfamouspaul
8
RSI ProfileThis indicator shows the RSI profile from historical RSI Value and High / Low RSI Pivots. It is inspired by the Volume Profile which is a common charting study that indicates activity at specified levels. It plots a histogram on the chart meant to identify dominant/significant levels. This script is profiling RSI levels into a histogram, which can identify the crucial RSI values in the chart. Along with the pivot options that can help identify the dominant pivot points where RSI values had been rebounding historically. How to use: There are three profile types available in the settings. When selecting RSI Values, the indicator will count RSI values from history, and plot the count in a histogram at the end of the chart. If you select RSI Pivots High or RSI Pivots Low, the indicator will count only the RSI Pivot Highs and Lows and plot the count in a histogram. Users can select the Pivot Left/Right length from the settings. Users can extend the POC line to the left, to study how the values had been reacting to POC Please note: Since the RSi values range from 0 to 100, the indicator is rounding off the values to absolute numbers. This can cause a situation where multiple POC are identified, to find the unique POC, you can increase the width of the histogram. The Max/Min RSI settings are for visual purposes only, it can help users shrink down the histogram's top and bottom visibility
Pine Script™ indicator
by AtifRizwan
1
RSI Trend Veracity (RSI TV)The RSI only plots itself between a high and a low value. It does not show its bullish/bearish sentiment. The RSI TV shows the sentiment and helps anticipate the RSI trend but not the price trend. When the Trend Veracity Line is in green, there is bullish sentiment. When it is in red, there is bearish sentiment. The closer the lines get to their extremities, the more the current trend of the RSI is exhausted. It works quite well even in choppy markets. See notes in the picture for more details.
Pine Script™ indicator
by More-Than-Enough
2
TIGER ALERT RSI DIVThats our first RSI DIV indicator for free use. What is an RSI divergence? What Is the Relative Strength Index (RSI)? The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to evaluate overvalued or undervalued conditions in the price of that security. The RSI can do more than point to overbought and oversold securities. It can also indicate securities that may be primed for a trend reversal or corrective pullback in price. It can signal when to buy and sell. T raditionally, an RSI reading of 70 or above indicates an overbought situation. A reading of 30 or below indicates an oversold condition.
Pine Script™ indicator
by PlamenTsonkov
Quick and Simple - WPR+RSI+CCITake a look. Couple of confluencial reversal signals from popular indicators (W%R, RSI & CCI). I can only say this shows how random the "stanard tools" are and how the market makers "play" these kind of tools to their advantage. That said. It's better tha average, but not top-class, so expect to have to take signals with other confluence. DON'T take the plots or signals as buy / sell signals, they are just confluencial movements from these indicators based on how they should be "traditionally" used. Instead, use it as a guide as to what other traders may be thinking, or as a pull-back identifier. Included 100 period ema as basic trend filter. Not my normal type of script + been away for some time so be kind, lol :) You might find it useful however so sharing. More stuff to follow :)
Pine Script™ indicator
by ballofpaper
1
Relative Strength Index with fast and slow MAsThis is the typical Relative Strength Index indicator with two moving averages, one slow (length 50 by default) and one fast (length 20 by default). Additionally, there are four lines, which mark the oversold/overbought signals at different levels, there are two inner bands with values at the levels 40, and 60, and two outer bands at the levels 20, and 80. The presence of the fast and slow moving averages and their crossover/crossunder with the oversold/overbought levels or the RSI can provide more insightful and faster signals. The indicator has a slightly different colouring mechanism. The views of the RSI indicator on the above the price chart in both dark and light modes:
Pine Script™ indicator
by Thrax93
SUPER RSI [Gabbo]this indicator serves to differentiate the classic source of RSI with these inputs you can modify the inputs of the different Bar's, you can choose between: Candles = classic Candles Heikin Hashi Kagi Line break Pointfigure Renko Selecting the input: "Use Different Source ???" you can use a source with multiple elements of your choice 2 = (Source 1 + Source 2) / 2 3 = (Source 1 + Source 2 + Source 3) / 3 4 = (Source 1 + Source 2 + Source 3 + Source 4) / 4 5 = (Source 1 + Source 2 + Source 3 + Source 4 + Source 5) / 5
Pine Script™ indicator
by Cometreon
2
RSI+ by Wilson (alt)Extension of the excellent RSI+ script by Wilsonlibero. I tweaked the parameters to better fit crypto markets, and I added a few more visuals, such as midline, overbought/oversold threshold lines and areas, background coloration depending on RSI trend above or below midline, and a few other tweaks especially colors (fixed the transp parameter deprecation for example). The color theme is by default more optimized for dark mode charts, but all colors can be configured, and all drawings can be enabled/disabled/tweaked in the parameters. I'm just giving back to the community since I could modify this script only because it was open-source. If you like this script, please don't give me any credit, but please show some love to the original author Wilsonlibero:
Pine Script™ indicator
by tartigradia
3
Yasir Hameed Advance RSI IndicatorRELATIVE STRENGTH INDEX ( RSI ) This is a tool that is widely used Especially for Overbought and Oversold systems, but I have made some changes in this indicator, How to use it...! I have set it as the default setting - RSI Length: 7 - Overbought: 70 - Oversold: 30 What is unique about this tool? we can see 3 conditions: 1) RSI Overbought / Oversold with Bullish Engulfing / Bearish Engulfing 2) RSI Overbought / Oversold with Hammer and Shooting Star 3) RSI Overbought / Oversold with 2 Bullish Bars / 2 Bearish Bars 4) RSI Overbought / Oversold with All Patterns at the same time When the RSI reaches its Oversold line, the code will wait for Bullish Engulfing pattren, when oversold and Bullish engulfing matched, This indicator will generate a buy signal when the condition is met, and same as for Bear market, When the RSI reaches its Overbought line, the code will wait for Bearish Engulfing pattren, This indicator will generate a sell/exit signal when the condition is met, 2nd condition is that a Hammer candle will be waited for when RSI touches the Overbought line, for Bullish Move and Shooting Star candle will be waited for when RSI touches the Overbought line, for Bullish Move, for Bearish Move 3rd Condition is also the same as Condition 1 and Condition 2, When the RSI reaches its Oversold line, the code will wait for 2 Bullish Bars, when oversold and 2 Bullish Bars matched then this indicator will generate a buy signal, and same as for Bear market, When the RSI reaches its Overbought line, the code will wait for 2 Bearish Bars, when overbought and 2 Bearish Bars matched then this indicator will generate a Sell signal, 4th Condition is that we can use All Conditions at the same time, - Bullish Engulfing / Bearish Engulfing - Hammer and Shooting Star - 2 Bullish Bars / 2 Bearish Bars
Pine Script™ indicator
by Yasir_Hameed
7
RSI based support resistance levelsThis indicator draws support line and resistance lines in the price chart. How ? For drawing the support/resistance line we need to first determine the demand and supply. We are using too-familiar indicator RSI to determine when the script is oversold and overbought. Now oversold (in RSI) is not a point, it’s a zone. The RSI indicator comes below 30, stays there and goes up above 30. Similarly for overbought. Now if you carefully look at the oversold region – the lowest point of the oversold region is the place where the demand came (for surety) and push the indicator (and price) up. Similarly: the highest point of overbought is the place where (for surety) the supply came and push the indicator (and price) down. So that’ the supply / demand line (for surety). In this indicator, based on the RSI we are just drawing support and resistance lines in the chat. That’s all. What is unique ? Trendline concept is not new. RSI is not new. RSI overbought/oversold is not new. There are indicators exist to draw trendlines. Some of them works beautifully. However, none of these, we are aware of, uses RSI to determine it. And, we believe, the most logical way to determine support/resistance is RSI. Note: We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
Pine Script™ indicator
by pradipandsuvra
5
Revolver Oscillator Strategy 1.2 (RSI+UO+MFI)ROS (Revolver Oscillator Strategy) Version 1.2 Description This script combines three popular oscillators (RSI, Ultimate Oscillator and MFI) to accurately determine the price momentum of an asset. Context - RSI (Relative Strength Index) is a momentum oscillator that measures the speed and change of price movements over a period of time (14). - Ultimate Oscillator uses three different periods (7, 14, and 28) to represent short, medium, and long-term market trends. - Money Flow Index (MFI) is a momentum indicator that measures the flow of money into and out over a period of time. It is related to the Relative Strength Index (RSI) but incorporates volume, whereas the RSI only considers price How does it work? When a RED bar appears, it means that the three oscillators have exceeded the set thresholds, and it is a SELL signal. When a GREEN bar appears, it means that the three oscillators are below the set thresholds, and it is a BUY signal. I recommend leaving the default settings.
Pine Script™ indicator
by clubmezzanotte
3
Multi Type RSI [Misu]█ This Indicator is based on RSI ( Relative Strength Index ) & multiple type of MA (Moving Average) to show different variations of RSI. The relative strength index (RSI) is a momentum indicator used in technical analysis to evaluate overvalued or undervalued conditions in the price of that security. █ Usages: The purpose of this indicator is to obtain the RSI calculated with different MAs modes instead of the classic RMA. The red and green zones indicate the oversold and overbought zones. Buy or sell signals are marked by the green and red circles We have 2 different signal modes : when the different size RSIs cross and when the fast RSI crosses the extreme bands. Alerts are setup. █ Parameters: Lenght RSI: The lenght of the RSI. (14 by default) RSI MA Type: The type of MA with which the rsi will be calculated. ("SMA", "EMA", "SMMA (RMA)", "WMA", "VWMA") Fast Lenght MA: The fast lenght smoothing MA. Slow Lenght MA: The Slow lenght smoothing MA. Lower Band: The lenght of the lower band. (25 by default) Upper Band: The lenght of the upper band. (75 by default) Signal Type: The mode with which buy and sell signals are triggered. ("Cross 2 Mas", "Cross Ma/Bands")
Pine Script™ indicator
by Fontiramisu
3
RSITrendStrategyI don't know if there is any strategy based on RSI cross over. The strategy is designed based on RSI crossover, considering RSI(5) and RSI(11), with RSI(6) to identify highs & lows. I used this strategy to trade in Nifty 50 & Nifty bank indices. Whenever there is long mentioned on chart, I go for buying call option with premium near to 300, and placing stoploss of 50 on candle closing basis, vice versa. Target is open until short is mentioned on the chart. Sometimes, i used standard pivot points as well to mark my targets and also to trail my trades.
Pine Script™ strategy
by email_analysts
BB-RSI-ADX Entry PointsThis is a combination of indicators used to find oversold and overbought entry points for possible reversion. A Green arrow will appear when all condition are met for an ENTER LONG position. A Red arow will appear when all condition are met for an ENTER SHORT position. You can modify all of these condition parameters from the indicator's settings. How does the indicator work The signals are using Bollinger Bands , BB %B , RSI and ADX indicators to try and find points of reversal Enter LONG Conditions Current candle low is below BB lower band. The BB %B is more than 0. RSI > 30 ADX > 25 Enter SHORT Conditions Current candle high is above BB upper band. The BB %B is less than 1. RSI < 70 ADX > 25 Those are the default settings that seem to work for me but you can customize all of these from the indicator settings. I find this strategy to best work on a 3 minute timeframe Note: The bb %B is calculated for stDev - 1. This will help you see a change happening faster.
Pine Script™ indicator
by frixou89
2