Directional Movement Index Histogram & Stochastic RSI
Uses DMI rendered as a histogram & overbought/sold SRSI crossovers to highlight areas of increased likelihood of reversal.
Red dot above histogram - indicates overbought SRSI crossover occurred above the DMI threshold in an upward DMI
Green dot below histogram - indicates oversold SRSI crossover occurred below the DMI threshold in a downward DMI
DMI threshold can be adjusted to eliminate choppy low DMI crossovers (displayed as transparent red zone on the histogram). Set to 0 / -0 to display all SRSI crossovers for that DMI.
SRSI overbought/sold adjustable. Note : it has been offset to align with the histogram (-50 to 50 instead of the standard 0 to 100).
Other settings standard for SRSI etc.
Red dot above histogram - indicates overbought SRSI crossover occurred above the DMI threshold in an upward DMI
Green dot below histogram - indicates oversold SRSI crossover occurred below the DMI threshold in a downward DMI
DMI threshold can be adjusted to eliminate choppy low DMI crossovers (displayed as transparent red zone on the histogram). Set to 0 / -0 to display all SRSI crossovers for that DMI.
SRSI overbought/sold adjustable. Note : it has been offset to align with the histogram (-50 to 50 instead of the standard 0 to 100).
Other settings standard for SRSI etc.