OPEN-SOURCE SCRIPT
Güncellendi

Price x Vol RSI

157
An enhanced RSI indicator that integrates the RSI of volume as a conviction amplifier.

This script modifies the RSI to range from −1 to +1, allowing it to express directional momentum. Volume RSI remains in the range of 0 to +1, serving as a direction-neutral amplifier.

The result is a bi-directional composite RSI that:

>> Emphasizes congruent signals (e.g., strong price direction with strong volume).

>> Minimizes misleading signals from high volume paired with neutral or conflicting price movement.

Ideal for identifying high-conviction breakouts and momentum divergences with volume support.

the plot fill increases in color when the plot approaches zero, then reverses away from zero, and resets on a zero-cross.

check out my other script, the PXVS, which is what this RSI script was based on. it uses similar logic as this script, but with FSTO %K instead of RSI
Sürüm Notları
Updated for comparison with traditional RSI.

check out the FSTO version of this script, the PXVS!
Sürüm Notları
removed EMA plots from previous picture
Sürüm Notları
changed picture to show comparison to traditional RSI

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.