Luxy Sector & Industry RS AnalyzerEver wonder why some stocks soar while others in the same sector barely move? Or why your perfectly timed entry still loses money? Possibly the answer can be found in Relative Strength.
The Luxy Sector & Industry RS Analyzer solves a critical problem that most traders overlook: picking strong stocks in strong sectors AND strong industries . It's not enough for a stock to go up - you want stocks that are crushing their competition at both the sector AND industry level. This indicator does the heavy lifting by automatically comparing your stock against its sector ETF, industry ETF, the broader market, sector leader, and industry leader, giving you a complete multi-level picture of relative performance.
What makes this different?
- Automatic sector AND industry detection - no manual setup required
- Multi-level hierarchy analysis: Market → Sector → Industry → Stock
- Multi-timeframe analysis (1 month to 1 year) in one glance
- Industry ETF mapping (30+ industries covered)
- Clear 0-100 scoring system with letter grades (A+ to F)
- Works on stocks, crypto, forex, and commodities
- Real-time updates with anti-repaint protection
Think of it as your performance dashboard - instantly showing you if you're trading a champion or a laggard at every level of the market hierarchy.
METHODOLOGY & ATTRIBUTION
This indicator is based on classical Relative Strength (RS) analysis principles from technical analysis. RS methodology compares an asset's price performance against a benchmark to identify relative outperformance or underperformance. This concept has been used by professional traders and institutions for decades.
Key Concepts Used:
Relative Strength (RS) - Classical technical analysis concept measuring comparative performance
Multi-Level Hierarchy Analysis - Market → Sector → Industry → Stock comparison
Sector Rotation Analysis - Identifying which sectors are leading or lagging the market
Industry Rotation Analysis - Identifying which industries are leading within their sectors
Multi-period Performance Analysis - Evaluating strength across multiple timeframes
Beta Calculation - Standard statistical measure of volatility relative to a benchmark
DISCLAIMER: This indicator is for educational and informational purposes only. It should not be considered financial advice or a recommendation to buy or sell. Past performance does not guarantee future results. Trading involves risk and may not be suitable for all investors. Always do your own research and consult with a financial advisor before making investment decisions.
with all rows visible - capture when stock has strong RS score (70+) so users can see what a "good" setup looks like]
WHAT THE INDICATOR SHOWS
1. AUTOMATIC ASSET TYPE DETECTION
The indicator automatically identifies what you're analyzing and adjusts accordingly:
Stocks - Compares to sector ETF (XLK, XLF, XLV, etc.) and SPY
Crypto - Compares to Total Crypto Market Cap and Bitcoin
Forex - Compares to relevant currency index (DXY, EXY, etc.)
Commodities - Compares to Gold (GLD) as benchmark
Indices - Compares to broader market indices
How it works: The indicator reads your chart's asset type and ticker, then automatically maps it to the correct sector or benchmark. For stocks, it uses intelligent sector detection (looking at the sector field) to match you with the right sector ETF. For example:
- Technology stocks get compared to XLK (Technology Select Sector SPDR)
- Financial stocks get compared to XLF (Financial Select Sector SPDR)
- Healthcare stocks get compared to XLV (Health Care Select Sector SPDR)
This happens instantly when you add the indicator to any chart - no configuration needed.
2. SECTOR & MARKET BENCHMARKS
What is a Sector ETF?
A sector ETF is an exchange-traded fund that tracks a specific industry group. For example, XLK contains all major technology companies. By comparing your stock to its sector ETF, you can see if your stock is outperforming or underperforming its peers.
The indicator shows three key comparison points:
Stock vs Sector (Benchmark)
This tells you how your stock performs compared to companies in the same industry. Positive numbers mean your stock is beating the sector average. Negative numbers mean it's lagging behind.
Stock vs Market (SPY)
This shows performance against the broader S&P 500 index. This is important because even if a stock beats its sector, the entire sector might be weak. You want stocks that beat both their sector AND the market.
Sector vs Market
This reveals "sector rotation" - whether money is flowing into or out of this sector. When this number is positive, the whole sector is hot and leading the market. This is powerful because strong sectors tend to lift all boats, making it easier to find winners.
3. MULTI-PERIOD PERFORMANCE ANALYSIS
The indicator calculates performance across four timeframes simultaneously:
1 Month (1M) - Recent short-term momentum
3 Months (3M) - Medium-term trend strength
6 Months (6M) - Longer-term positioning
1 Year (1Y) - Full-cycle performance view
Why multiple periods matter:
A stock might look great over 1 month but terrible over 6 months - that's a red flag. The best stocks show consistent strength across all timeframes . When you see positive RS (Relative Strength) values across all four periods, you've found a stock with sustained outperformance.
Each row in the table shows:
- Raw performance percentage for that period
- RS value (the difference compared to benchmark)
- Color coding: Green for positive, red for negative, white for neutral
4. SECTOR LEADER COMPARISON
The indicator automatically identifies and compares your stock to the sector leader - the dominant stock in that industry.
Sector leaders by industry:
Technology: Apple (AAPL)
Healthcare: UnitedHealth (UNH)
Financial: JPMorgan Chase (JPM)
Energy: ExxonMobil (XOM)
Consumer Discretionary: Amazon (AMZN)
Consumer Staples: Walmart (WMT)
And more...
Why this matters:
Comparing to the leader shows you if you're trading a champion or a follower. If your stock consistently beats the sector leader, you've found something special. If it's lagging the leader, you might want to trade the leader instead.
Optional Custom Leader:
You can override the automatic leader and compare to any stock you choose. This is useful if you want to benchmark against a specific competitor or reference stock.
NEW! INDUSTRY ANALYSIS (STOCKS ONLY)
The indicator now provides multi-level analysis by automatically detecting and comparing your stock to its specific industry , not just the broad sector.
Why Industry matters:
Technology sector (XLK) contains many different industries: Software, Semiconductors, Hardware, etc. A software stock might beat the broad tech sector but lag behind other software companies. Industry analysis provides this granular view.
Industry ETF Mapping (30+ industries):
Software/Applications: IGV (iShares Software ETF)
Semiconductors: SMH (VanEck Semiconductor ETF)
Biotech: IBB (iShares Biotechnology ETF)
Pharmaceuticals: XPH (SPDR Pharmaceuticals ETF)
Banks: KBE (SPDR S&P Bank ETF)
Regional Banks: KRE (SPDR Regional Banking ETF)
Oil & Gas Exploration: XOP (SPDR Oil & Gas Exploration ETF)
Homebuilders: XHB (SPDR Homebuilders ETF)
Retail: XRT (SPDR S&P Retail ETF)
Aerospace & Defense: ITA (iShares U.S. Aerospace & Defense ETF)
And many more...
Industry Leader Mapping:
The indicator also identifies the leader within each industry:
Software: Microsoft (MSFT)
Semiconductors: NVIDIA (NVDA)
Biotech: Amgen (AMGN)
Pharmaceuticals: Eli Lilly (LLY)
Banks: JPMorgan (JPM)
Oil Exploration: ConocoPhillips (COP)
And more...
New Table Rows for Stocks:
Industry ETF Performance - How the specific industry performed (green background)
Industry Leader Performance - How the top stock in the industry performed
vs Industry RS - Your stock's outperformance vs its industry ETF
Industry vs Sector RS - Is this industry hot or cold within its sector?
vs Industry Leader RS - Your stock's performance vs the industry's best
Why this is powerful:
A stock that beats both its sector AND its industry is showing strength at every level. This indicates true relative strength, not just riding sector-wide momentum.
Optional Custom Industry:
You can override automatic detection for both Industry ETF and Industry Leader in settings.
5. RS SCORE & GRADING SYSTEM (0-100)
The heart of the indicator is the RS Score - a weighted calculation that distills all the performance data into one clear number from 0 to 100.
How the score is calculated:
FOR STOCKS (with Industry data):
The indicator splits the weight between Sector (60%) and Industry (40%):
SECTOR RS (60% of total weight):
1 Month RS: 24% weight (40% × 0.6)
3 Month RS: 18% weight (30% × 0.6)
6 Month RS: 12% weight (20% × 0.6)
1 Year RS: 6% weight (10% × 0.6)
INDUSTRY RS (40% of total weight):
1 Month RS: 16% weight (40% × 0.4)
3 Month RS: 12% weight (30% × 0.4)
6 Month RS: 8% weight (20% × 0.4)
1 Year RS: 4% weight (10% × 0.4)
FOR OTHER ASSETS (Crypto, Forex, Commodities):
Uses full 100% weight on benchmark:
1 Month RS: 40% weight
3 Month RS: 30% weight
6 Month RS: 20% weight
1 Year RS: 10% weight
It starts at 50 (neutral) and adds or subtracts points based on your asset's relative strength in each period.
Bonus points:
+5 points if the sector is outperforming the market (sector rotation is bullish)
+5 points if the industry is outperforming its sector (hot industry) - STOCKS ONLY
+5 points if RS momentum is improving (getting stronger over time)
-5 points if RS momentum is declining (getting weaker)
The final score is capped between 0-100.
Letter Grade System:
90-100: A+ - Elite performer, crushing the sector
85-89: A - Excellent, strong outperformer
80-84: A- - Very good, above average
75-79: B+ - Good, solid performer
70-74: B - Above average, decent strength
65-69: B- - Slightly above average
60-64: C+ - Average, neutral strength
55-59: C - Below average
50-54: C- - Weak, slight underperformance
45-49: D+ - Concerning weakness
40-44: D - Poor, significant underperformance
0-39: F - Failing, avoid this stock
What scores mean for trading:
- RS Score above 70: Strong stocks worth considering for long positions
- RS Score 50-70: Average stocks, better opportunities elsewhere
- RS Score below 50: Weak stocks, avoid or consider for shorts
6. CONSISTENCY SCORE
This metric shows what percentage of time periods show positive RS .
For STOCKS (with Industry data):
Counts both Sector RS periods AND Industry RS periods (up to 8 total periods):
- If a stock beats both sector and industry in all 4 periods each: Consistency = 100% (8/8)
- If it beats in 6 out of 8 total periods: Consistency = 75%
- If it beats in 4 out of 8 total periods: Consistency = 50%
For OTHER ASSETS:
Counts benchmark periods only (4 total):
- If it beats benchmark in all 4 periods (1M, 3M, 6M, 1Y): Consistency = 100%
- If it beats in 3 out of 4 periods: Consistency = 75%
- If it beats in 2 out of 4 periods: Consistency = 50%
Why consistency matters:
A high RS Score with low consistency might indicate a recent spike that could fade. The best stocks show both high RS Score AND high consistency - they're strong now AND have been strong historically at both the sector AND industry level.
Look for stocks with:
Consistency above 75%: Very reliable strength across all levels
Consistency 50-75%: Decent but check other metrics
Consistency below 50%: Weak or erratic, proceed with caution
7. BETA CALCULATION (Volatility Measure)
Beta measures how much more volatile your stock is compared to its sector.
Beta > 1.2 : High volatility - stock moves more aggressively than sector (marked as "High")
Beta 0.8-1.2 : Normal volatility - moves roughly in line with sector
Beta < 0.8 : Low volatility - stock is more stable than sector (marked as "Low")
Formula used:
Beta = Correlation(Stock, Sector) × (Standard Deviation of Stock / Standard Deviation of Sector)
This uses a 20-period calculation for reliability.
How to use Beta:
- High Beta stocks offer bigger gains but also bigger risks - good for aggressive traders
- Low Beta stocks are more defensive - good for conservative positions
- Match Beta to your risk tolerance and strategy
8. DAYS ABOVE/BELOW SECTOR
This tracks consecutive periods (bars) where your stock outperforms or underperforms its sector.
Days Above Sector:
Counts how many bars in a row your stock has beaten the sector.
10+ days: Strong sustained strength (shown in bright green)
5-9 days: Building momentum (shown in yellow)
1-4 days: Early strength (shown in white)
0 days: Not currently outperforming
Days Below Sector:
Counts how many bars in a row your stock has lagged the sector.
10+ days: Sustained weakness (shown in bright red)
5-9 days: Losing momentum (shown in orange)
1-4 days: Minor weakness (shown in white)
0 days: Not underperforming (this is good!)
Why this matters:
Long streaks show trend persistence. A stock with 15+ days above sector is riding strong momentum. A stock with 15+ days below sector is in a sustained downtrend relative to peers.
9. PRICE VS 52-WEEK HIGH
Shows where current price sits relative to its 52-week high (or equivalent for your timeframe).
95%+ (green) : Stock is near all-time highs - strong positioning
80-94% (yellow) : Stock is in a pullback but still relatively strong
Below 80% : Stock has pulled back significantly from highs
Why this matters:
The strongest stocks stay near their highs. When you see a stock with high RS Score AND price near 52W high, you've found a stock with institutional support and strong buying pressure.
10. RELATIVE VOLUME
Compares current volume to the 20-period average volume.
1.5x+ (green) : High volume - significant interest and participation
Around 1.0x : Average volume - normal trading activity
Below 1.0x : Low volume - less interest or inactive period
Why volume matters:
High relative volume confirms price moves. When a stock makes a strong move on 2x or 3x normal volume, it's more likely to sustain. Low volume moves are often just noise.
11. AVERAGE RS STRENGTH
This calculates the average absolute value of all RS readings across the four timeframes.
It shows the magnitude of divergence from the sector, regardless of direction. A high number means the stock moves very differently from its sector (could be much stronger or much weaker). A low number means it tracks closely with the sector.
High Average RS: Stock has strong character, moves independently
Low Average RS: Stock follows sector closely, lacks individual strength
12. SECTOR ROTATION SIGNAL
This indicator automatically detects when a sector is experiencing bullish rotation - meaning money is flowing into the sector and it's outperforming the broader market.
Condition for bullish rotation:
Sector must be beating SPY (market) in both 1-month AND 3-month periods.
Why this matters:
Stocks in hot sectors tend to perform better because they have tailwinds from sector-wide buying. When sector rotation is bullish and your stock has a high RS Score, you've found an ideal setup.
The indicator adds +5 bonus points to the RS Score when sector rotation is bullish.
13. MOMENTUM DETECTION
The indicator compares 1-month RS to 3-month RS to detect if momentum is improving or declining.
RS Momentum Improving: 1M RS is better than 3M RS - stock is getting stronger (adds +5 to score)
RS Momentum Declining: 1M RS is worse than 3M RS - stock is getting weaker (subtracts -5 from score)
Why momentum matters:
You want to catch stocks as momentum is building, not after it's already peaked. Improving momentum suggests the strength is accelerating, not fading.
14. OVERALL ASSESSMENT & RECOMMENDATION
The indicator provides two quick summary rows:
Overall Rating:
Based on grade and RS Score, you get an instant quality rating:
Strong Leader (A/A+) - Top tier stock, crushing it
Above Average (A-/B+) - Solid performer, better than most
Average (B/B-) - Middle of the pack
Below Average (C/C+) - Struggling, watch carefully
Underperformer (D/F) - Weak stock, underperforming badly
Trading Signal:
Combines multiple factors to give setup quality:
STRONG BUY SETUP - RS Score 70+, Consistency 75+, AND sector rotation bullish. This is the perfect storm - strong stock, consistent strength, hot sector.
BULLISH - RS Score 60+, Consistency 50+. Good quality stock worth considering.
NEUTRAL - RS Score 50+. Okay but not exciting, better opportunities exist.
WEAK - RS Score 40-49. Below average, risky.
AVOID - RS Score below 40. Stay away, too weak.
IMPORTANT: These are educational signals only, not financial advice. Always do your own analysis and risk management.
KEY FEATURES
1. AUTOMATIC EVERYTHING
- Auto-detects asset type (stock, crypto, forex, commodity, index)
- Auto-maps stocks to correct sector ETF (11 sectors covered)
- Auto-maps stocks to correct industry ETF (30+ industries covered)
- Auto-identifies sector leader AND industry leader
- Auto-selects appropriate market benchmark
- Zero configuration required - just add to chart
2. MULTI-ASSET SUPPORT
Works on all asset classes:
US Stocks - Compares to sector ETFs (XLK, XLF, XLV, etc.)
Crypto - Compares to Total Crypto Market Cap
Forex - Compares to currency indices (DXY, EXY, etc.)
Commodities - Compares to Gold (GLD)
Indices - Compares to broader market benchmarks
3. FLEXIBLE DISPLAY
9 table positions (top/middle/bottom, left/center/right)
4 size options (tiny, small, normal, large)
Show/hide table completely
Real-time indicator toggle
4. TIMEFRAME FLEXIBILITY
Choose your analysis timeframe:
Chart Timeframe (default) - Uses whatever timeframe your chart is on
Fixed: 1 Hour, 4 Hours, Daily, Weekly - Forces calculations to specific timeframe
This means you can be on a 5-minute chart but analyze RS on Daily timeframe if you prefer.
5. RS SCORE FILTERING
Set a minimum RS Score threshold to only see strong stocks:
Set to 0 - Shows all stocks
Set to 70 - Only displays stocks with RS Score 70+ (strong stocks only)
Warning message displays if stock doesn't meet threshold
Perfect for screening - quickly scan multiple charts and the indicator only shows tables for stocks that pass your quality filter.
6. CUSTOM LEADER COMPARISON
Override automatic leader detection:
Compare to any ticker you choose
Benchmark against specific competitors
Use your own reference stocks
7. COMPREHENSIVE TOOLTIPS
Every input parameter and every table row has detailed tooltips explaining:
What the metric measures
How to interpret the values
What thresholds indicate strength/weakness
Why it matters for trading
Hover over any element to learn - it's like having a trading coach built in.
8. SMART ALERTS
Built-in alert system for key events:
Divergence Alerts:
Get notified when your stock diverges significantly from its sector.
Bullish Divergence: Stock beating sector by threshold percentage
Bearish Divergence: Stock losing to sector by threshold percentage
Set your threshold (default 5%) - this determines how big a divergence triggers the alert.
RS Score Alerts:
Get notified when RS Score crosses your threshold:
Crossed Above: RS Score went from below to above your threshold (bullish)
Crossed Below: RS Score dropped from above to below threshold (bearish)
Set your threshold (default 70) to focus on strong stocks.
Sector Rotation Alert:
Fires when sector shows bullish rotation (outperforming market).
HOW TO USE THE INDICATOR
FOR SWING TRADERS:
1. Add indicator to your watchlist stocks
2. Look for RS Score 70+ with Consistency 75%+
3. Check if sector rotation is bullish (bonus!)
4. Verify price is near 52W high (95%+)
5. Wait for entry setup on your chart
6. Use stop loss below key support
Example Setup:
Stock shows:
- RS Score: 82 (Grade: A-)
- Consistency: 100% (strong across all periods)
- Sector Rotation: Bullish
- Price vs 52W High: 96%
- Days Above Sector: 12 days
- Relative Volume: 1.8x
This is a textbook strong stock in a hot sector near highs - ideal for swing long.
FOR POSITION TRADERS:
1. Focus on 6-month and 1-year RS values
2. Look for sustained outperformance (Consistency 75%+)
3. Prefer lower Beta stocks (less volatility)
4. Check Days Above Sector for trend persistence
5. Monitor RS Score monthly, exit if drops below 60
FOR ACTIVE TRADERS:
1. Use on intraday timeframes (1H or 4H)
2. Set RS Score filter to 60+ for quick screening
3. Enable Divergence Alerts
4. Watch for momentum improving signal
5. Higher Beta stocks offer more movement
FOR SHORT SELLERS:
1. Look for RS Score below 40 (Grade: D or F)
2. Check for declining momentum
3. Verify Days Below Sector is increasing (10+)
4. Sector rotation should be bearish
5. Price should be well off 52W high
WHAT MAKES A PERFECT SETUP:
The holy grail combination:
RS Score: 75+ (A- or better)
Consistency: 80%+ (strong across time - beats sector AND industry)
Sector Rotation: Bullish (hot sector)
Industry vs Sector: Positive (hot industry within sector)
Days Above Sector: 10+ (sustained strength)
Momentum: Improving (getting stronger)
Price vs 52W High: 90%+ (near highs)
Relative Volume: 1.5x+ (volume confirmation)
When you find this combination, you've located a stock with every advantage in its favor - strong at the stock level, industry level, AND sector level. That's multi-level confirmation of relative strength.
IMPORTANT NOTES
Data Reliability:
All calculations use lookahead=off for anti-repaint protection
Historical values will never change
Real-time indicator toggle only affects the visual clock icon, not data reliability
All security requests are properly configured to prevent future data leakage
Sector Mapping Notes:
Sector detection uses TradingView's sector field
Some stocks may not have sector data - indicator will adapt
Sector ETFs used: XLK, XLF, XLV, XLE, XLY, XLP, XLI, XLB, XLRE, XLU, XLC
Major market ETFs (SPY, QQQ, DIA) are treated as market benchmarks, not stocks
Multi-Asset Notes:
Crypto compares to CRYPTOCAP:TOTAL (total crypto market cap)
Forex compares to relevant currency index based on base currency
Commodities compare to Gold (GLD) as primary commodity benchmark
Custom leaders can be set for any asset type
FREQUENTLY ASKED QUESTIONS
Q: What does RS Score of 75 actually mean?
A: It means your stock is strongly outperforming its sector across multiple timeframes. The score is weighted toward recent performance (1-month gets 40% weight), so 75 indicates sustained relative strength with emphasis on current momentum.
Q: My stock has high RS Score but is going down. Why?
A: RS Score measures relative performance (vs sector/market), not absolute price direction. A stock can fall 5% while its sector falls 10% - that's still positive relative strength. In bear markets or sector corrections, high RS stocks often fall less than peers.
Q: Should I only trade stocks with RS Score above 70?
A: For long positions, yes - focus on 70+ scores. These stocks have proven they can beat their sector. However, for pairs trading or relative value plays, you might also short stocks with scores below 40 while longing stocks above 70.
Q: What if my stock doesn't have a sector?
A: The indicator handles this gracefully. If no sector is detected, it will compare directly to the market (SPY for stocks). Some rows may show N/A, but the indicator will still provide useful market-relative data.
Q: Why does the sector sometimes show N/A?
A: This happens when: 1) Your asset has no sector classification, 2) The stock IS the sector ETF itself, 3) You're analyzing a non-stock asset (crypto, forex, commodity). The indicator adapts by focusing on market-relative metrics instead.
Q: Can I use this on cryptocurrencies?
A: Yes! The indicator automatically detects crypto and compares to the Total Crypto Market Cap (CRYPTOCAP:TOTAL). You can also set a custom leader like Bitcoin (BTCUSD) to compare against the dominant crypto.
Q: What's the difference between RS Score and Consistency?
A: RS Score is the weighted average of how much you're beating the sector (magnitude). Consistency is what percentage of time periods show outperformance (reliability). You want both high - that means strong AND consistent.
Q: Do the alerts repaint?
A: No. All alerts fire only on bar close (barstate.isconfirmed) and use properly configured data with lookahead=off. Once an alert fires, it's final and won't change.
Q: What timeframe should I use?
A: For swing trading: Daily or Weekly. For day trading: 1H or 4H. For position trading: Weekly. Use "Chart Timeframe" mode and switch your chart timeframe to change the analysis period easily.
Q: Why is Days Above Sector showing 0?
A: This means your stock is not currently outperforming its sector. If Days Below Sector is also 0, it means the RS is exactly neutral (very rare). Check the actual RS values to see current standing.
Q: Can I compare to a different market benchmark than SPY?
A: Currently the indicator uses SPY (S&P 500) as the default US stock market benchmark. For crypto it uses CRYPTOCAP:TOTAL, for forex it uses currency indices, etc. The benchmark auto-adjusts based on asset type.
Q: What's a good Beta value?
A: It depends on your strategy. Aggressive traders prefer Beta above 1.2 (more volatility = bigger moves). Conservative traders prefer Beta 0.8-1.0 (more stable). Beta is neutral - it's about matching your risk tolerance.
Q: How often does the table update?
A: With Real-time Indicator enabled: Every tick (constant updates). With it disabled: Only on bar close. Either way, the underlying data is identical and non-repainting - the toggle only affects update frequency and the clock icon display.
Q: My stock is showing "AVOID" but it's up 50% this year. Is the indicator wrong?
A: Not necessarily. The indicator measures RELATIVE performance. If your stock is up 50% but the sector is up 100%, your stock is actually underperforming by 50%. The indicator helps you identify when you should switch to stronger stocks in the same sector.
Q: What does "Strong Buy Setup" really mean?
A: It means three things aligned: 1) RS Score above 70 (strong stock), 2) Consistency above 75% (reliable strength), 3) Sector rotation is bullish (hot sector). This combination historically correlates with stocks that continue outperforming. However, this is NOT financial advice - always do your own analysis.
Q: Can I use this for options trading?
A: Yes! High RS Score stocks make good candidates for call options (bullish bets) while low RS Score stocks may work for puts (bearish bets). Higher Beta stocks will have more volatile options (higher premiums but more movement).
Q: Why is my crypto showing N/A for sector?
A: Cryptocurrencies don't have "sectors" like stocks do. Instead, the indicator compares crypto to the total crypto market cap. This is normal and expected behavior.
Q: What happens if I'm analyzing an ETF?
A: If you're analyzing a sector ETF (like XLK), it will compare to SPY (market). If you're analyzing SPY itself, some comparisons won't be available (can't compare SPY to itself). The indicator intelligently adapts to avoid circular comparisons.
Q: What if my stock doesn't have industry data?
A: Not all stocks are mapped to specific industries (only 30+ major industries are covered). If no industry is detected, the indicator will still work using only sector analysis. The RS Score calculation will use 100% sector weight instead of the 60%/40% split.
Q: Why does Industry vs Sector matter?
A: Industry vs Sector shows if your specific industry is hot or cold within its broader sector. For example, Semiconductors (SMH) might be outperforming Technology sector (XLK) even though both are up. This helps you find not just strong sectors, but the strongest industries within those sectors.
Q: Can I disable Industry analysis?
A: Yes! In the "Industry Analysis" settings group, you can toggle off "Show Industry Analysis in Table" to hide all industry rows. However, even when hidden, industry data still contributes to the RS Score calculation for stocks.
Q: Why is my Consistency Score lower for stocks than other assets?
A: For stocks with industry data, Consistency counts 8 periods (4 Sector + 4 Industry periods) instead of just 4. This means the bar is higher - your stock needs to beat both sector AND industry consistently. A stock that beats sector in all 4 periods but lags industry in 2 periods will show 75% consistency (6/8), not 100%.
BEST PRACTICES
Use as a screening tool - Set RS Score filter to 70+ and quickly scan your watchlist. Only strong stocks will show the table.
Combine with technical analysis - RS Score tells you WHAT to trade, your chart tells you WHEN to enter.
Check multiple timeframes - Switch between Daily and Weekly to see if strength holds across different time horizons.
Monitor sector rotation - When sector goes from bearish to bullish rotation, it's often a great time to enter stocks in that sector.
Watch Industry vs Sector - Stocks in hot industries within hot sectors have double tailwinds. Prioritize Industry vs Sector positive values.
Pay attention to consistency - High RS Score with low consistency might be a spike that fades. Look for 70%+ consistency across BOTH sector and industry.
Use the leader comparison - If your stock consistently beats both sector leader AND industry leader, you may have found the next champion.
Watch days above/below sector - Long streaks (15+ days) indicate strong trends. Look for these in conjunction with high RS Score.
Set alerts on key stocks - Enable RS Score alerts at 70 threshold to get notified when watchlist stocks become strong.
Consider Beta for position sizing - Size smaller positions in high Beta stocks, larger in low Beta stocks for balanced risk.
Exit when RS Score drops - If a stock's RS Score falls below 60, consider reducing or exiting - the strength may be fading.
Leverage industry-level insight - If Industry ETF is weak but stock is strong, that's standout strength. If Industry is hot but stock is lagging, consider switching to the industry leader instead.
SETTINGS EXPLAINED
Display Settings:
Show Performance Table - Master on/off switch for the table
Table Position - 9 positions available (corners, edges, center)
Table Size - 4 sizes (tiny, small, normal, large) for different screen sizes
Timeframe Settings:
Chart Timeframe (recommended) - Dynamic, uses whatever chart TF you're on
Fixed Timeframes - Locks analysis to 1H, 4H, Daily, or Weekly regardless of chart
Filtering Settings:
Minimum RS Score - Set threshold (0-100) for displaying table
Show Warning - When enabled, displays message if stock doesn't meet filter
Alert Settings:
Divergence Alerts - Enable alerts when stock diverges from sector
Threshold (%) - How big a divergence triggers alert (default 5%)
RS Score Alerts - Enable alerts when RS Score crosses threshold
Threshold - What RS Score level triggers alert (default 70)
Sector Analysis Settings:
Use Custom Sector ETF - Override automatic sector ETF detection
Sector ETF Symbol - Enter any sector ETF to compare against
Use Custom Sector Leader - Override automatic sector leader detection
Sector Leader Symbol - Enter any ticker as sector leader
Industry Analysis Settings:
Use Custom Industry ETF - Override automatic industry ETF detection
Industry ETF Symbol - Enter specific industry ETF (e.g., IGV, SMH)
Use Custom Industry Leader - Override automatic industry leader detection
Industry Leader Symbol - Enter specific industry leader
Show Industry Analysis - Toggle all industry rows on/off
Display Settings:
Show Real-time Indicator - Toggle clock icon in header (doesn't affect data)
WHAT THIS INDICATOR DOESN'T DO
To set proper expectations:
Does NOT provide entry/exit signals - this is a strength analyzer, not a trading system
Does NOT predict future price movement - shows current and historical relative strength
Does NOT guarantee profits - strong RS stocks can still decline
Does NOT replace your own analysis - use as one tool among many
Does NOT work on stocks with no sector data - will adapt but some rows show N/A
This indicator is a decision support tool . It helps you identify which stocks are showing relative strength so you can make more informed trading decisions. You still need your own entry strategy, risk management, and position sizing rules.
SUPPORT & CONTACT
Questions or feedback? Use the comments section below or send me a message.
If you find this indicator useful, please give it a boost and share with other traders who might benefit from relative strength analysis.
FINAL REMINDER
This indicator is a tool for analyzing relative strength - it shows you which stocks are outperforming their sector and market. It does NOT provide financial advice or trade signals. Always conduct your own research, manage your risk appropriately, and consult with a financial advisor before making investment decisions.
Past performance of relative strength does not guarantee future results. Strong stocks can become weak, and sectors rotate in and out of favor. Use this indicator as part of a comprehensive trading strategy, not as a standalone decision-making system.
Trade smart, manage risk, and may your RS Scores stay high!
If you got till here and you like my work a BOOST and a COMMENT would make me happy
Relative
Market Extreme Zones IndexThe Market Extreme Zones Index is a new mean reversion (valuation) tool focused on catching long term oversold/overbought zones. Combining an enhanced RSI with a smoothed Z-score this indicator allows traders to find oppurtunities during highly oversold/overbought zones.
I will separate the explanation into the following parts:
1. How does it work?
2. Methodologies & Concepts
3. Use cases
How does it work?
The indicator attempts to catch highly unprobable events in either direction to capture reversal points over the long term. This is done by calculating the Z-Score of an enhanced RSI.
First we need to calculate the Enhanced RSI:
For this we need to calculate 2 additional lengths:
Length1 = user defined length
Length2 = Length1/2
Length3 = √Length
Now we need to calculate 3 different RSIs:
1st RSI => uses classic user defined source and classic user defined length.
2nd RSI => uses classic user defined source and Length 2.
3rd RSI => uses RSI 2 as source and Length 2
Now calculate the divergence:
RSI_base => 2nd RSI * 3 - 1st RSI - 3rd RSI
After this we need to calculate the median of the RSI_base over √Length and make a divergence of these 2:
RSI => RSI_base*2 - median
All that remains now is the Z-score calculations:
We need:
Average RSI value
Standard Deviation = a measure of how dispersed or spread out a set of data values are from their average
Z-score = (Current Value - Average Value) / Standard Deviation
After this we just smooth the Z-score with a Weighted Moving average with √Length
Methodology & Concepts
Mean Reversion Methodology:
The methodology behind mean reversion is the theory that asset prices will eventually return to their long-term average after deviating significantly, driven by the belief that extreme moves are temporary.
Z-Score Methodology:
A Z-score, or standard score, is a statistical measure that indicates how many standard deviations a data point is from the mean of a dataset. A positive z-score means the value is above the mean, a negative score means it's below, and a score of zero means the value is equal to the mean.
You might already be able to see where I am going with this:
Z-Score could be used for the extreme moves to capture reversal points.
By applying it to the RSI rather than the Price, we get a more accurate measurement that allow us to get a banger indicator.
Use Cases
Capturing reversal points
Trend Direction
- while the main use it for mean reversion, the values can indicate whether we are in an uptrend or a downtrend.
Advantages:
Visualization:
The indicator has many plots to ensure users can easily see what the indicator signals, such as highlighting extreme conditions with background colors.
Versatility:
This indicator works across multiple assets, including the S&P500 and more, so it is not only for crypto.
Final note:
No indicator alone is perfect.
Backtests are not indicative of future performance.
Hope you enjoy Gs!
Good luck!
Mean Reversion Trading V1Overview
This is a simple mean reversion strategy that combines RSI, Keltner Channels, and MACD Histograms to predict reversals. Current parameters were optimized for NASDAQ 15M and performance varies depending on asset. The strategy can be optimized for specific asset and timeframe.
How it works
Long Entry (All must be true):
1. RSI < Lower Threshold
2. Close < Lower KC Band
3. MACD Histogram > 0 and rising
4. No open trades
Short Entry (All must be true):
1. RSI > Upper Threshold
2. Close > Upper KC Band
3. MACD Histogram < 0 and falling
4. No open trades
Long Exit:
1. Stop Loss: Average position size x ( 1 - SL percent)
2. Take Profit: Average position size x ( 1 + TP percent)
3. MACD Histogram crosses below zero
Short Exit:
1. Stop Loss: Average position size x ( 1 + SL percent)
2. Take Profit: Average position size x ( 1 - TP percent)
3. MACD Histogram crosses above zero
Settings and parameters are explained in the tooltips.
Important
Initial capital is set as 100,000 by default and 100 percent equity is used for trades
MACD cu RSI 7 Fibonacci color levelsMACD with RSI info
The RSI is display as value with changing color as Fibonacci levels.
MACD with RSI color 7 Fibonacci levelsMACD that contain RSI info
The color of RSI is change accordingly with Fibonacci levels, from red till green
RSI Momentum ScalperOverview
The "RSI Momentum Scalper" is a Pine Script v5 strategy crafted for trading highly volatile markets, with a special focus on newly listed cryptocurrencies. This strategy harnesses the Relative Strength Index (RSI) alongside volume analysis and momentum thresholds to pinpoint short-term trading opportunities. It supports both long and short trades, managed with customizable take profit, stop loss, and trailing stop levels, which are visually plotted on the chart for easy tracking.
Why I Created This Strategy
I developed the "RSI Momentum Scalper" because I was seeking a reliable trading strategy tailored to newly listed, highly volatile cryptocurrencies. These assets often experience rapid price fluctuations, rendering traditional strategies less effective. I aimed to create a tool that could exploit momentum and volume spikes while managing risk through adaptable exit parameters. This strategy is designed to address that need, offering a flexible approach for traders in dynamic crypto markets.
How It Works
The strategy utilizes RSI to identify momentum shifts, combined with volume confirmation, to trigger long or short entries. Trades are controlled with take profit, stop loss, and trailing stop levels, which adjust dynamically as the price moves in your favor. The trailing stop helps lock in profits, while the plotted exit levels provide clear visual cues for trade management.
Customizable Settings
The script is highly customizable, allowing you to adjust it to various market conditions and trading styles. Here’s a brief overview of the key settings:
Trade Mode: Select "Both," "Long Only," or "Short Only" to determine the trade direction.
(Default: Both)
RSI Length: Sets the lookback period for the RSI calculation (2 to 30).
(Default: 8)
A shorter length increases RSI sensitivity, suitable for volatile assets.
RSI Overbought: Defines the upper RSI threshold (60 to 99) for short entries.
(Default: 90)
Higher values signal stronger overbought conditions.
RSI Oversold: Defines the lower RSI threshold (1 to 40) for long entries.
(Default: 10)
Lower values indicate stronger oversold conditions.
RSI Momentum Threshold: Sets the minimum RSI momentum change (1 to 15) to trigger entries.
(Default: 14)
Adjusts the sensitivity to price momentum.
Volume Multiplier: Multiplies the volume moving average to filter high-volume bars (1.0 to 3.0).
(Default: 1)
Higher values require stronger volume confirmation.
Volume MA Length: Sets the lookback period for the volume moving average (5 to 50).
(Default: 13)
Influences the volume trend sensitivity.
Take Profit %: Sets the profit target as a percentage of the entry price (0.1 to 10.0).
(Default: 4.15)
Determines when to close a winning trade.
Stop Loss %: Sets the loss limit as a percentage of the entry price (0.1 to 6.0).
(Default: 1.85)
Protects against significant losses.
Trailing Stop %: Sets the trailing stop distance as a percentage (0.1 to 4.0).
(Default: 2.55)
Locks in profits as the price moves favorably.
Visual Features
Exit Levels: Take profit (green), fixed stop loss (red), and trailing stop (orange) levels are plotted when in a position.
Performance Table: Displays win rate, total trades, and net profit in the top-right corner.
How to Use
Add the strategy to your chart in TradingView.
Adjust the input settings based on the cryptocurrency and timeframe you’re trading.
Monitor the plotted exit levels for trade management.
Use the performance table to assess the strategy’s performance over time.
Notes
Test the strategy on a demo account or with historical data before live trading.
The strategy is optimized for short-term scalping; adjust settings for longer timeframes if needed.
Algorithmic Value Oscillator [CRYPTIK1]Algorithmic Value Oscillator
Introduction: What is the AVO? Welcome to the Algorithmic Value Oscillator (AVO), a powerful, modern momentum indicator that reframes the classic "overbought" and "oversold" concept. Instead of relying on a fixed lookback period like a standard RSI, the AVO measures the current price relative to a significant, higher-timeframe Value Zone .
This gives you a more contextual and structural understanding of price. The core question it answers is not just "Is the price moving up or down quickly?" but rather, " Where is the current price in relation to its recently established area of value? "
This allows traders to identify true "premium" (overbought) and "discount" (oversold) levels with greater accuracy, all presented with a clean, futuristic aesthetic designed for the modern trader.
The Core Concept: Price vs. Value The market is constantly trying to find equilibrium. The AVO is built on the principle that the high and low of a significant prior period (like the previous day or week) create a powerful area of perceived value.
The Value Zone: The range between the high and low of the selected higher timeframe.
Premium Territory (Distribution Zone): When the oscillator moves into the glowing pink/purple zone above +100, it is trading at a premium.
Discount Territory (Accumulation Zone): When the oscillator moves into the glowing teal/blue zone below -100, it is trading at a discount.
Key Features
1. Glowing Gradient Oscillator: The main oscillator line is a dynamic visual guide to momentum.
The line changes color smoothly from light blue to neon teal as bullish momentum increases.
It shifts from hot pink to bright purple as bearish momentum increases.
Multiple transparent layers create a professional "glow" effect, making the trend easy to see at a glance.
2. Dynamic Volatility Histogram: This histogram at the bottom of the indicator is a custom volatility meter. It has been engineered to be adaptive, ensuring that the visual differences between high and low volatility are always clear and dramatic, no matter your zoom level. It uses a multi-color gradient to visualize the intensity of market volatility.
3. Volatility Regime Dashboard: This simple on-screen table analyzes the histogram and provides a clear, one-word summary of the current market state: Compressing, Stable, or Expanding.
How to Use the AVO: Trading Strategies
1. Reversion Trading This is the most direct way to use the indicator.
Look for Buys: When the AVO line drops into the teal "Accumulation Zone" (below -100), the price is trading at a discount. Watch for the oscillator to form a bottom and start turning up as a signal that buying pressure is returning.
Look for Sells: When the AVO line moves into the pink "Distribution Zone" (above +100), the price is trading at a premium. Watch for the oscillator to form a peak and start turning down as a signal that selling pressure is increasing.
2. Best Practices & Settings
Timeframe Synergy: The AVO is most effective when your chart timeframe is lower than your selected "Value Zone Source." For example, if you trade on the 1-hour chart, set your Value Zone to "Previous Day."
Confirmation is Key: This indicator provides powerful context, but it should not be used in isolation. Always combine its readings with your primary analysis, such as market structure and support/resistance levels.
Benchmark Relative Performance BRPBenchmark Relative Performance (BRP) is a comprehensive technical analysis tool that compares any stock's performance against a chosen benchmark (QQQ, SPY, IWM, etc.) to identify outperformance and underperformance patterns.
Key Features:
Dual-line visualization: Shows both ticker and relative strength performance
Dynamic color coding: 5-level color system indicating performance strength
Customizable benchmark: Choose from any ticker via TradingView's symbol picker
Volume weighting: Optional volume analysis for stronger signal confirmation
Performance zones: Visual thresholds for strong/moderate performance levels
Compact info table: Real-time performance status and values
What It Shows:
Benchmark Performance Line (Blue): Shows your chosen benchmark's percentage performance
Relative Strength Line (Color-coded): Shows how much the ticker outperforms/underperforms
Fill Area: Visual gap between ticker and benchmark performance
Performance Zones: Dotted lines marking significant performance thresholds
Color System:
Green: Strong outperformance (above custom threshold)
Lime: Standard outperformance
Yellow: Neutral/Equal performance
Orange: Standard underperformance
Red: Strong underperformance (below custom threshold)
Best Used For:
Stock selection and rotation strategies
Sector/ETF relative strength analysis
Identifying momentum shifts vs benchmarks
Portfolio performance evaluation
Market timing based on relative performance
Settings:
Customizable lookback period (default: 20)
Adjustable strong performance threshold (default: 5%)
Optional volume weighting factor
Full table customization (position, colors, fonts)
Performance display (percentage or decimal)
Perfect for traders and investors who want to identify stocks showing relative strength or weakness compared to major market benchmarks.
Apex Edge - RSI Trend LinesThe Apex Edge - RSI Trend Lines indicator is a precision tool that automatically draws real-time trendlines on the RSI oscillator using confirmed pivot highs and lows. These dynamic trendlines track RSI structure in motion, helping you anticipate breakout zones, reversals, and hidden divergences.
Every time a new pivot forms, the indicator automatically re-draws the RSI trendline between the two most recent pivots — giving you an always-current view of momentum structure. You’ll instantly see when RSI begins compressing or expanding, long before price reacts.
Key Features: • Dynamic RSI trendlines drawn from the last 2 pivots
• Auto re-draws in real-time as new pivots form
• Optional "Full Extend" or "Pivot Only" modes
• Slope color-coded: green = support, red = resistance
• Built-in dotted RSI levels (30/70 default)
• Alert conditions for RSI trendline breakout signals
• Ideal for spotting divergence, compression, and early SMC confluence
This is not your average RSI — it’s a fully reactive momentum edge overlay designed to give you clarity, structure, and timing from within the oscillator itself. Perfect for traders using Smart Money Concepts, divergence setups, or algorithmic trend tracking.
⚔️ Built for precision. Built for edge. Built for Apex.
Fibo Normalized RSI & RSI RibbonPlots both standard and Z-score normalized RSI ribbons using Fibonacci-based periods. Supports adjustable normalization, optional 0–100 scaling, and multi-line visualizations for momentum and deviation analysis.
This tool is designed for traders who want to go beyond standard RSI by adding:
Statistical normalization (Z-score)
Multi-period analysis (Fibonacci structure)
Advanced divergence and exhaustion detection
It gives you both classical momentum context and mathematically rigorous deviation insight, making it ideal for:
Swing traders
Quant-inclined discretionary traders
Multi-timeframe analysts
Trend Confirmation
When both RSI and normalized RSI across short and long periods are stacked in the same direction (e.g., above 50 or with high Z-scores), the trend is likely strong.
Disagreement between the two ribbons (e.g., RSI high but normalized RSI flat) may indicate late-stage trend or false strength.
Mean Reversion Trades
Look for normalized RSI values > +2 or < -2 (i.e., ~2 standard deviations).
Cross-check with standard RSI to see if the move aligns with a traditional overbought/oversold level.
Great for fade/reversal setups when Z-score RSI is extreme but classic RSI is just beginning to turn.
Divergence Detection
Compare the slope of RSI vs. normalized RSI over same period:
If RSI is rising but normalized RSI is falling → momentum is fading despite apparent strength.
Excellent for early warnings before reversals.
Multi-Timeframe Confluence
Use short-period ribbons (e.g., 3–13) for tactical entries/exits.
Use long-period ribbons (e.g., 55–233) for macro trend bias.
Alignment across both = high-confidence zone.
RSI Full Forecast [Titans_Invest]RSI Full Forecast
Get ready to experience the ultimate evolution of RSI-based indicators – the RSI Full Forecast, a boosted and even smarter version of the already powerful: RSI Forecast
Now featuring over 40 additional entry conditions (forecasts), this indicator redefines the way you view the market.
AI-Powered RSI Forecasting:
Using advanced linear regression with the least squares method – a solid foundation for machine learning - the RSI Full Forecast enables you to predict future RSI behavior with impressive accuracy.
But that’s not all: this new version also lets you monitor future crossovers between the RSI and the MA RSI, delivering early and strategic signals that go far beyond traditional analysis.
You’ll be able to monitor future crossovers up to 20 bars ahead, giving you an even broader and more precise view of market movements.
See the Future, Now:
• Track upcoming RSI & RSI MA crossovers in advance.
• Identify potential reversal zones before price reacts.
• Uncover statistical behavior patterns that would normally go unnoticed.
40+ Intelligent Conditions:
The new layer of conditions is designed to detect multiple high-probability scenarios based on historical patterns and predictive modeling. Each additional forecast is a window into the price's future, powered by robust mathematics and advanced algorithmic logic.
Full Customization:
All parameters can be tailored to fit your strategy – from smoothing periods to prediction sensitivity. You have complete control to turn raw data into smart decisions.
Innovative, Accurate, Unique:
This isn’t just an upgrade. It’s a quantum leap in technical analysis.
RSI Full Forecast is the first of its kind: an indicator that blends statistical analysis, machine learning, and visual design to create a true real-time predictive system.
⯁ SCIENTIFIC BASIS LINEAR REGRESSION
Linear Regression is a fundamental method of statistics and machine learning, used to model the relationship between a dependent variable y and one or more independent variables 𝑥.
The general formula for a simple linear regression is given by:
y = β₀ + β₁x + ε
β₁ = Σ((xᵢ - x̄)(yᵢ - ȳ)) / Σ((xᵢ - x̄)²)
β₀ = ȳ - β₁x̄
Where:
y = is the predicted variable (e.g. future value of RSI)
x = is the explanatory variable (e.g. time or bar index)
β0 = is the intercept (value of 𝑦 when 𝑥 = 0)
𝛽1 = is the slope of the line (rate of change)
ε = is the random error term
The goal is to estimate the coefficients 𝛽0 and 𝛽1 so as to minimize the sum of the squared errors — the so-called Random Error Method Least Squares.
⯁ LEAST SQUARES ESTIMATION
To minimize the error between predicted and observed values, we use the following formulas:
β₁ = /
β₀ = ȳ - β₁x̄
Where:
∑ = sum
x̄ = mean of x
ȳ = mean of y
x_i, y_i = individual values of the variables.
Where:
x_i and y_i are the means of the independent and dependent variables, respectively.
i ranges from 1 to n, the number of observations.
These equations guarantee the best linear unbiased estimator, according to the Gauss-Markov theorem, assuming homoscedasticity and linearity.
⯁ LINEAR REGRESSION IN MACHINE LEARNING
Linear regression is one of the cornerstones of supervised learning. Its simplicity and ability to generate accurate quantitative predictions make it essential in AI systems, predictive algorithms, time series analysis, and automated trading strategies.
By applying this model to the RSI, you are literally putting artificial intelligence at the heart of a classic indicator, bringing a new dimension to technical analysis.
⯁ VISUAL INTERPRETATION
Imagine an RSI time series like this:
Time →
RSI →
The regression line will smooth these values and extend them n periods into the future, creating a predicted trajectory based on the historical moment. This line becomes the predicted RSI, which can be crossed with the actual RSI to generate more intelligent signals.
⯁ SUMMARY OF SCIENTIFIC CONCEPTS USED
Linear Regression Models the relationship between variables using a straight line.
Least Squares Minimizes the sum of squared errors between prediction and reality.
Time Series Forecasting Estimates future values based on historical data.
Supervised Learning Trains models to predict outputs from known inputs.
Statistical Smoothing Reduces noise and reveals underlying trends.
⯁ WHY THIS INDICATOR IS REVOLUTIONARY
Scientifically-based: Based on statistical theory and mathematical inference.
Unprecedented: First public RSI with least squares predictive modeling.
Intelligent: Built with machine learning logic.
Practical: Generates forward-thinking signals.
Customizable: Flexible for any trading strategy.
⯁ CONCLUSION
By combining RSI with linear regression, this indicator allows a trader to predict market momentum, not just follow it.
RSI Full Forecast is not just an indicator — it is a scientific breakthrough in technical analysis technology.
⯁ Example of simple linear regression, which has one independent variable:
⯁ In linear regression, observations ( red ) are considered to be the result of random deviations ( green ) from an underlying relationship ( blue ) between a dependent variable ( y ) and an independent variable ( x ).
⯁ Visualizing heteroscedasticity in a scatterplot against 100 random fitted values using Matlab:
⯁ The data sets in the Anscombe's quartet are designed to have approximately the same linear regression line (as well as nearly identical means, standard deviations, and correlations) but are graphically very different. This illustrates the pitfalls of relying solely on a fitted model to understand the relationship between variables.
⯁ The result of fitting a set of data points with a quadratic function:
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🔮 Linear Regression: PineScript Technical Parameters 🔮
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Forecast Types:
• Flat: Assumes prices will remain the same.
• Linreg: Makes a 'Linear Regression' forecast for n periods.
Technical Information:
ta.linreg (built-in function)
Linear regression curve. A line that best fits the specified prices over a user-defined time period. It is calculated using the least squares method. The result of this function is calculated using the formula: linreg = intercept + slope * (length - 1 - offset), where intercept and slope are the values calculated using the least squares method on the source series.
Syntax:
• Function: ta.linreg()
Parameters:
• source: Source price series.
• length: Number of bars (period).
• offset: Offset.
• return: Linear regression curve.
This function has been cleverly applied to the RSI, making it capable of projecting future values based on past statistical trends.
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⯁ WHAT IS THE RSI❓
The Relative Strength Index (RSI) is a technical analysis indicator developed by J. Welles Wilder. It measures the magnitude of recent price movements to evaluate overbought or oversold conditions in a market. The RSI is an oscillator that ranges from 0 to 100 and is commonly used to identify potential reversal points, as well as the strength of a trend.
⯁ HOW TO USE THE RSI❓
The RSI is calculated based on average gains and losses over a specified period (usually 14 periods). It is plotted on a scale from 0 to 100 and includes three main zones:
• Overbought: When the RSI is above 70, indicating that the asset may be overbought.
• Oversold: When the RSI is below 30, indicating that the asset may be oversold.
• Neutral Zone: Between 30 and 70, where there is no clear signal of overbought or oversold conditions.
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⯁ ENTRY CONDITIONS
The conditions below are fully flexible and allow for complete customization of the signal.
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🔹 CONDITIONS TO BUY 📈
______________________________________________________
• Signal Validity: The signal will remain valid for X bars .
• Signal Sequence: Configurable as AND or OR .
📈 RSI Conditions:
🔹 RSI > Upper
🔹 RSI < Upper
🔹 RSI > Lower
🔹 RSI < Lower
🔹 RSI > Middle
🔹 RSI < Middle
🔹 RSI > MA
🔹 RSI < MA
📈 MA Conditions:
🔹 MA > Upper
🔹 MA < Upper
🔹 MA > Lower
🔹 MA < Lower
📈 Crossovers:
🔹 RSI (Crossover) Upper
🔹 RSI (Crossunder) Upper
🔹 RSI (Crossover) Lower
🔹 RSI (Crossunder) Lower
🔹 RSI (Crossover) Middle
🔹 RSI (Crossunder) Middle
🔹 RSI (Crossover) MA
🔹 RSI (Crossunder) MA
🔹 MA (Crossover) Upper
🔹 MA (Crossunder) Upper
🔹 MA (Crossover) Lower
🔹 MA (Crossunder) Lower
📈 RSI Divergences:
🔹 RSI Divergence Bull
🔹 RSI Divergence Bear
📈 RSI Forecast:
🔹 RSI (Crossover) MA Forecast
🔹 RSI (Crossunder) MA Forecast
🔹 RSI Forecast 1 > MA Forecast 1
🔹 RSI Forecast 1 < MA Forecast 1
🔹 RSI Forecast 2 > MA Forecast 2
🔹 RSI Forecast 2 < MA Forecast 2
🔹 RSI Forecast 3 > MA Forecast 3
🔹 RSI Forecast 3 < MA Forecast 3
🔹 RSI Forecast 4 > MA Forecast 4
🔹 RSI Forecast 4 < MA Forecast 4
🔹 RSI Forecast 5 > MA Forecast 5
🔹 RSI Forecast 5 < MA Forecast 5
🔹 RSI Forecast 6 > MA Forecast 6
🔹 RSI Forecast 6 < MA Forecast 6
🔹 RSI Forecast 7 > MA Forecast 7
🔹 RSI Forecast 7 < MA Forecast 7
🔹 RSI Forecast 8 > MA Forecast 8
🔹 RSI Forecast 8 < MA Forecast 8
🔹 RSI Forecast 9 > MA Forecast 9
🔹 RSI Forecast 9 < MA Forecast 9
🔹 RSI Forecast 10 > MA Forecast 10
🔹 RSI Forecast 10 < MA Forecast 10
🔹 RSI Forecast 11 > MA Forecast 11
🔹 RSI Forecast 11 < MA Forecast 11
🔹 RSI Forecast 12 > MA Forecast 12
🔹 RSI Forecast 12 < MA Forecast 12
🔹 RSI Forecast 13 > MA Forecast 13
🔹 RSI Forecast 13 < MA Forecast 13
🔹 RSI Forecast 14 > MA Forecast 14
🔹 RSI Forecast 14 < MA Forecast 14
🔹 RSI Forecast 15 > MA Forecast 15
🔹 RSI Forecast 15 < MA Forecast 15
🔹 RSI Forecast 16 > MA Forecast 16
🔹 RSI Forecast 16 < MA Forecast 16
🔹 RSI Forecast 17 > MA Forecast 17
🔹 RSI Forecast 17 < MA Forecast 17
🔹 RSI Forecast 18 > MA Forecast 18
🔹 RSI Forecast 18 < MA Forecast 18
🔹 RSI Forecast 19 > MA Forecast 19
🔹 RSI Forecast 19 < MA Forecast 19
🔹 RSI Forecast 20 > MA Forecast 20
🔹 RSI Forecast 20 < MA Forecast 20
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🔸 CONDITIONS TO SELL 📉
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• Signal Validity: The signal will remain valid for X bars .
• Signal Sequence: Configurable as AND or OR .
📉 RSI Conditions:
🔸 RSI > Upper
🔸 RSI < Upper
🔸 RSI > Lower
🔸 RSI < Lower
🔸 RSI > Middle
🔸 RSI < Middle
🔸 RSI > MA
🔸 RSI < MA
📉 MA Conditions:
🔸 MA > Upper
🔸 MA < Upper
🔸 MA > Lower
🔸 MA < Lower
📉 Crossovers:
🔸 RSI (Crossover) Upper
🔸 RSI (Crossunder) Upper
🔸 RSI (Crossover) Lower
🔸 RSI (Crossunder) Lower
🔸 RSI (Crossover) Middle
🔸 RSI (Crossunder) Middle
🔸 RSI (Crossover) MA
🔸 RSI (Crossunder) MA
🔸 MA (Crossover) Upper
🔸 MA (Crossunder) Upper
🔸 MA (Crossover) Lower
🔸 MA (Crossunder) Lower
📉 RSI Divergences:
🔸 RSI Divergence Bull
🔸 RSI Divergence Bear
📉 RSI Forecast:
🔸 RSI (Crossover) MA Forecast
🔸 RSI (Crossunder) MA Forecast
🔸 RSI Forecast 1 > MA Forecast 1
🔸 RSI Forecast 1 < MA Forecast 1
🔸 RSI Forecast 2 > MA Forecast 2
🔸 RSI Forecast 2 < MA Forecast 2
🔸 RSI Forecast 3 > MA Forecast 3
🔸 RSI Forecast 3 < MA Forecast 3
🔸 RSI Forecast 4 > MA Forecast 4
🔸 RSI Forecast 4 < MA Forecast 4
🔸 RSI Forecast 5 > MA Forecast 5
🔸 RSI Forecast 5 < MA Forecast 5
🔸 RSI Forecast 6 > MA Forecast 6
🔸 RSI Forecast 6 < MA Forecast 6
🔸 RSI Forecast 7 > MA Forecast 7
🔸 RSI Forecast 7 < MA Forecast 7
🔸 RSI Forecast 8 > MA Forecast 8
🔸 RSI Forecast 8 < MA Forecast 8
🔸 RSI Forecast 9 > MA Forecast 9
🔸 RSI Forecast 9 < MA Forecast 9
🔸 RSI Forecast 10 > MA Forecast 10
🔸 RSI Forecast 10 < MA Forecast 10
🔸 RSI Forecast 11 > MA Forecast 11
🔸 RSI Forecast 11 < MA Forecast 11
🔸 RSI Forecast 12 > MA Forecast 12
🔸 RSI Forecast 12 < MA Forecast 12
🔸 RSI Forecast 13 > MA Forecast 13
🔸 RSI Forecast 13 < MA Forecast 13
🔸 RSI Forecast 14 > MA Forecast 14
🔸 RSI Forecast 14 < MA Forecast 14
🔸 RSI Forecast 15 > MA Forecast 15
🔸 RSI Forecast 15 < MA Forecast 15
🔸 RSI Forecast 16 > MA Forecast 16
🔸 RSI Forecast 16 < MA Forecast 16
🔸 RSI Forecast 17 > MA Forecast 17
🔸 RSI Forecast 17 < MA Forecast 17
🔸 RSI Forecast 18 > MA Forecast 18
🔸 RSI Forecast 18 < MA Forecast 18
🔸 RSI Forecast 19 > MA Forecast 19
🔸 RSI Forecast 19 < MA Forecast 19
🔸 RSI Forecast 20 > MA Forecast 20
🔸 RSI Forecast 20 < MA Forecast 20
______________________________________________________
______________________________________________________
🤖 AUTOMATION 🤖
• You can automate the BUY and SELL signals of this indicator.
______________________________________________________
______________________________________________________
⯁ UNIQUE FEATURES
______________________________________________________
Linear Regression: (Forecast)
Signal Validity: The signal will remain valid for X bars
Signal Sequence: Configurable as AND/OR
Condition Table: BUY/SELL
Condition Labels: BUY/SELL
Plot Labels in the Graph Above: BUY/SELL
Automate and Monitor Signals/Alerts: BUY/SELL
Linear Regression (Forecast)
Signal Validity: The signal will remain valid for X bars
Signal Sequence: Configurable as AND/OR
Condition Table: BUY/SELL
Condition Labels: BUY/SELL
Plot Labels in the Graph Above: BUY/SELL
Automate and Monitor Signals/Alerts: BUY/SELL
______________________________________________________
📜 SCRIPT : RSI Full Forecast
🎴 Art by : @Titans_Invest & @DiFlip
👨💻 Dev by : @Titans_Invest & @DiFlip
🎑 Titans Invest — The Wizards Without Gloves 🧤
✨ Enjoy!
______________________________________________________
o Mission 🗺
• Inspire Traders to manifest Magic in the Market.
o Vision 𐓏
• To elevate collective Energy 𐓷𐓏
Kalman Filtered RSI | [DeV]The Kalman Filtered RSI indicator is an advanced tool designed for traders who want precise, noise-free market insights. By enhancing the classic Relative Strength Index (RSI) with a Kalman filter, this indicator delivers a smoother, more reliable view of market momentum, helping you identify trends, reversals, and overbought/oversold conditions with greater accuracy. It’s an ideal choice for traders seeking clear signals amidst market volatility, giving you a competitive edge across any trading environment.
The RSI measures momentum by analyzing price movements over a set period, typically 14 bars. It calculates the average of price gains on up days and the average of price losses on down days, then compares these to produce a value between 0 and 100. An RSI above 70 often indicates an overbought market that may reverse downward, while below 30 suggests an oversold market that could reverse upward. RSI is great for spotting momentum shifts, potential reversals, and trend strength, but it can be noisy in choppy markets, leading to misleading signals.
That's where the Kalman filter comes in; it enhances the RSI by applying a sophisticated smoothing process that predicts the RSI’s next value based on its historical trend, then updates this prediction with the actual RSI reading. It operates in two phases: prediction and correction. In the prediction phase, it uses the previous filtered RSI and adds uncertainty from process noise (Q), which is derived from the historical variance of RSI changes, reflecting how much the RSI might unexpectedly shift. In the correction phase, it calculates a Kalman gain based on the ratio of prediction uncertainty to measurement noise (R), which is determined from the variance between raw RSI and a smoothed version, indicating the raw data’s noisiness. This gain weights how much the filter trusts the new RSI versus the prediction, blending them to produce a smoothed RSI that reduces noise while staying responsive to real trends, outperforming simpler methods like moving averages that often lag or oversmooth.
With the Kalman Filtered RSI, you get a refined view of momentum, making it easier to spot trends and reversals with clarity. This indicator’s ability to dynamically adapt to market changes delivers timely, reliable signals, making it a powerful addition to your trading strategy for any market or timeframe.
RSI Full [Titans_Invest]RSI Full
One of the most complete RSI indicators on the market.
While maintaining the classic RSI foundation, our indicator integrates multiple entry conditions to generate more accurate buy and sell signals.
All conditions are fully configurable, allowing complete customization to fit your trading strategy.
⯁ WHAT IS THE RSI❓
The Relative Strength Index (RSI) is a technical analysis indicator developed by J. Welles Wilder. It measures the magnitude of recent price movements to evaluate overbought or oversold conditions in a market. The RSI is an oscillator that ranges from 0 to 100 and is commonly used to identify potential reversal points, as well as the strength of a trend.
⯁ HOW TO USE THE RSI❓
The RSI is calculated based on average gains and losses over a specified period (usually 14 periods). It is plotted on a scale from 0 to 100 and includes three main zones:
Overbought: When the RSI is above 70, indicating that the asset may be overbought.
Oversold: When the RSI is below 30, indicating that the asset may be oversold.
Neutral Zone: Between 30 and 70, where there is no clear signal of overbought or oversold conditions.
⯁ ENTRY CONDITIONS
The conditions below are fully flexible and allow for complete customization of the signal.
______________________________________________________
🔹 CONDITIONS TO BUY 📈
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• Signal Validity: The signal will remain valid for X bars .
• Signal Sequence: Configurable as AND/OR .
📈 RSI Conditions:
🔹 RSI > Upper
🔹 RSI < Upper
🔹 RSI > Lower
🔹 RSI < Lower
🔹 RSI > Middle
🔹 RSI < Middle
🔹 RSI > MA
🔹 RSI < MA
📈 MA Conditions:
🔹 MA > Upper
🔹 MA < Upper
🔹 MA > Lower
🔹 MA < Lower
📈 Crossovers:
🔹 RSI (Crossover) Upper
🔹 RSI (Crossunder) Upper
🔹 RSI (Crossover) Lower
🔹 RSI (Crossunder) Lower
🔹 RSI (Crossover) Middle
🔹 RSI (Crossunder) Middle
🔹 RSI (Crossover) MA
🔹 RSI (Crossunder) MA
🔹 MA (Crossover) Upper
🔹 MA (Crossunder) Upper
🔹 MA (Crossover) Lower
🔹 MA (Crossunder) Lower
📈 RSI Divergences:
🔹 RSI Divergence Bull
🔹 RSI Divergence Bear
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______________________________________________________
🔸 CONDITIONS TO SELL 📉
______________________________________________________
• Signal Validity: The signal will remain valid for X bars .
• Signal Sequence: Configurable as AND/OR .
📉 RSI Conditions:
🔸 RSI > Upper
🔸 RSI < Upper
🔸 RSI > Lower
🔸 RSI < Lower
🔸 RSI > Middle
🔸 RSI < Middle
🔸 RSI > MA
🔸 RSI < MA
📉 MA Conditions:
🔸 MA > Upper
🔸 MA < Upper
🔸 MA > Lower
🔸 MA < Lower
📉 Crossovers:
🔸 RSI (Crossover) Upper
🔸 RSI (Crossunder) Upper
🔸 RSI (Crossover) Lower
🔸 RSI (Crossunder) Lower
🔸 RSI (Crossover) Middle
🔸 RSI (Crossunder) Middle
🔸 RSI (Crossover) MA
🔸 RSI (Crossunder) MA
🔸 MA (Crossover) Upper
🔸 MA (Crossunder) Upper
🔸 MA (Crossover) Lower
🔸 MA (Crossunder) Lower
📉 RSI Divergences:
🔸 RSI Divergence Bull
🔸 RSI Divergence Bear
______________________________________________________
______________________________________________________
🤖 AUTOMATION 🤖
• You can automate the BUY and SELL signals of this indicator.
______________________________________________________
______________________________________________________
⯁ UNIQUE FEATURES
______________________________________________________
Signal Validity: The signal will remain valid for X bars
Signal Sequence: Configurable as AND/OR
Condition Table: BUY/SELL
Condition Labels: BUY/SELL
Plot Labels in the Graph Above: BUY/SELL
Automate and Monitor Signals/Alerts: BUY/SELL
Signal Validity: The signal will remain valid for X bars
Signal Sequence: Configurable as AND/OR
Condition Table: BUY/SELL
Condition Labels: BUY/SELL
Plot Labels in the Graph Above: BUY/SELL
Automate and Monitor Signals/Alerts: BUY/SELL
______________________________________________________
📜 SCRIPT : RSI Full
🎴 Art by : @Titans_Invest & @DiFlip
👨💻 Dev by : @Titans_Invest & @DiFlip
🎑 Titans Invest — The Wizards Without Gloves 🧤
✨ Enjoy the Spell!
______________________________________________________
o Mission 🗺
• Inspire Traders to manifest Magic in the Market.
o Vision 𐓏
• To elevate collective Energy 𐓷𐓏
Adaptable Relative Momentum Index [ParadoxAlgo]The Adaptable Relative Momentum Index (RMI) by ParadoxAlgo is an advanced momentum-based indicator that builds upon the well-known RSI (Relative Strength Index) concept by introducing a customizable momentum length. This indicator measures price momentum over a specified number of periods and applies a Rolling Moving Average (RMA) to both the positive and negative price changes. The result is a versatile tool that can help traders gauge the strength of a trend, pinpoint overbought/oversold levels, and potentially identify breakout opportunities.
⸻
Smart Configuration Feature
What sets this version of the RMI apart is ParadoxAlgo’s exclusive “Smart Configuration” functionality. Instead of manually adjusting parameters, traders can simply select their Asset Class (e.g., Stocks, Forex, Futures/Indices, Crypto, Commodities) and Trading Style (e.g., Scalping, Day Trading, Swing Trading, Short-Term Investing, Long-Term Investing). Based on these selections, the indicator automatically optimizes its core parameters:
• Length – The period over which the price changes are smoothed.
• Momentum Length – The number of bars used to calculate the price change.
By automating this process, users save time on tedious trial-and-error adjustments, ensuring that the RMI’s settings are tailored to the characteristics of specific markets and personal trading horizons.
⸻
Key Features & Benefits
1. Momentum-Based Insights
• Uses RMA to smooth price movements, helping identify shifts in market momentum more clearly than a basic RSI.
• Enhanced adaptability for a wide range of asset classes and time horizons.
2. Simple Yet Powerful Configuration
• Smart Configuration automatically sets optimal parameter values for each combination of asset class and trading style.
• Eliminates guesswork and manual recalibration when switching between markets or timeframes.
3. Overbought & Oversold Visualization
• Integrated highlight zones mark potential overbought and oversold extremes (default at 80 and 20).
• Optional breakout highlighting draws attention to times when the indicator crosses these key thresholds, helping spot possible entry or exit signals.
4. Intuitive Design & Ease of Use
• Clean plotting and color-coded signal lines make it easy to interpret bullish or bearish shifts in momentum.
• Straightforward dropdown menus keep the interface user-friendly, even for novice traders.
⸻
Practical Applications
• Early Trend Detection: Spot emerging trends when the RMI transitions from oversold to higher levels or vice versa.
• Breakout Confirmation: Confirm potential breakout trades by tracking overbought/oversold breakouts alongside other technical signals.
• Support/Resistance Confluence: Combine RMI signals with horizontal support/resistance levels to reinforce trade decisions.
• Trade Timing: Quickly gauge when momentum could be shifting, helping you time entries and exits more effectively.
⸻
Disclaimer
As with any technical indicator, the Adaptable Relative Momentum Index should be used as part of a broader trading strategy that includes risk management, fundamental analysis, and other forms of technical confirmation. Past performance does not guarantee future results.
⸻
Enjoy using the Adaptable RMI and experience a more streamlined, flexible approach to momentum analysis. Feel free to explore different asset classes and trading styles to discover which configurations resonate best with your unique trading preferences.
RSI Signal Pro[UgurTash]Introducing RSI Signal Pro for TradingView
RSI Signal Pro is a refined version of the standard Relative Strength Index (RSI) , designed to improve signal accuracy by generating alerts in real-time instead of waiting for multiple candle confirmations. This enhancement allows traders to react faster to market movements while maintaining the familiar RSI structure.
What Makes RSI Signal Pro Unique?
✅ Real-Time RSI Signals: Unlike the traditional RSI, which waits for candle confirmations, this version provides immediate buy and sell signals upon key level crossovers.
✅ Dual Trading Modes: Choose between Simple Mode (standard RSI crossovers) and Advanced Mode (momentum-adjusted signals with price validation).
✅ Customizable RSI-Based Moving Average (MA): Optionally apply SMA, EMA, WMA, or VWMA to smooth RSI fluctuations and identify longer-term trends.
✅ Adaptive Signal Filtering: The Advanced Mode reduces false signals by filtering RSI movements with a momentum threshold and historical RSI validation.
✅ User-Friendly Interface: Simple ON/OFF toggles allow easy customization of the indicator's behavior.
How This Indicator Works
🔹 Simple Mode: Identical to traditional RSI, triggering signals when RSI crosses 30 (bullish) or 70 (bearish).
🔹 Advanced Mode: Uses historical RSI pivots, momentum verification, and price confirmation to refine signal accuracy—ideal for traders looking for more precise entries.
🔹 RSI-Based MA: Optionally overlay moving averages onto the RSI, providing additional trend confirmation.
How to Use RSI Signal Pro
1️⃣ Select a mode: Use Simple Mode for frequent alerts or Advanced Mode for refined signals.
2️⃣ Enable RSI-Based MA: Apply SMA, EMA, WMA, or VWMA to smooth RSI fluctuations.
3️⃣ Set alerts: TradingView notifications allow you to react to real-time RSI movements instantly.
4️⃣ Apply to multiple markets: Effective for crypto, forex, stocks, and commodities.
Why Use RSI Signal Pro Instead of Standard RSI?
While RSI Signal Pro maintains the core functionality of the standard RSI, its real-time signal generation allows traders to make faster decisions without the typical delay caused by waiting for candle confirmations. Additionally, the optional momentum filtering and moving average smoothing ensure fewer false signals and better trade accuracy.
Waldo Cloud Bollinger Bands
Waldo Cloud Bollinger Bands Indicator Description for TradingView
Title: Waldo Cloud Bollinger Bands
Short Title: Waldo Cloud BB
Overview:
The Waldo Cloud Bollinger Bands indicator is a sophisticated tool designed for traders looking to combine the volatility analysis of Bollinger Bands with the momentum insights of the Relative Strength Index (RSI) and moving average crossovers. This indicator overlays on your chart, providing a visual representation that helps in identifying potential trading opportunities based on price action, momentum, and trend direction.
Concept:
This indicator merges three key technical analysis concepts:
Bollinger Bands: These are used to measure market volatility. The bands consist of a central moving average (basis) with an upper and lower band that are standard deviations away from this average. In this indicator, you can customize the type of moving average used for the basis (SMA, EMA, SMMA, WMA, VWMA), the length of the period, the source price, and the standard deviation multiplier, offering flexibility to adapt to different market conditions.
Relative Strength Index (RSI): The RSI is incorporated to provide insight into the momentum of price movements. Users can adjust the RSI length and overbought/oversold levels and even choose the price source for RSI calculation, allowing for tailored momentum analysis. The RSI values influence the cloud color between the Bollinger Bands, signaling market conditions.
Moving Average Crossovers: Two moving averages with customizable lengths and types are used to identify trend direction through crossovers. A fast MA (default 20 periods) and a slow MA (default 50 periods) are plotted when enabled, helping to signal potential bullish or bearish market conditions when they cross over each other.
Functionality:
Bollinger Bands Calculation: The basis of the Bollinger Bands is calculated using a user-defined moving average type, with a customizable length, source, and standard deviation multiplier. The upper and lower bands are then plotted around this basis.
RSI Calculation: The RSI is computed using a user-specified source, length, and overbought/oversold levels. This RSI value is used to determine the color of the cloud between the Bollinger Bands, which visually represents market sentiment:
Purple when RSI is overbought.
Blue when RSI is oversold.
Green for bullish conditions (when the fast MA crosses above the slow MA, RSI is bullish, and the price is above the slow MA).
Red for bearish conditions (when the fast MA crosses below the slow MA, RSI is bearish, and the price is below the slow MA).
Gray for neutral conditions.
Trend Analysis: The indicator uses two moving averages to help determine the trend direction.
When the fast MA crosses over the slow MA, it suggests a potential change in trend direction, which, combined with RSI conditions, provides a more comprehensive trading signal.
Customization:
Users can select the type of moving average for all calculations through the "Global MA Type" setting, ensuring consistency in how trends and volatility are interpreted.
The Bollinger Bands settings allow for adjustments in length, source, standard deviation, and offset, giving traders control over how volatility is measured.
RSI settings include the ability to change the RSI source, length, and overbought/oversold thresholds, which can be fine-tuned to match trading strategies.
The option to show or hide moving averages provides clarity on the chart, focusing on either the Bollinger Bands or including the MA crossovers for trend analysis.
Usage:
This indicator is ideal for traders who incorporate both volatility and momentum in their trading decisions.
By observing the color changes in the cloud, along with the position of the price relative to the moving averages, traders can gauge potential entry and exit points.
For instance, a green cloud with a price above the slow MA might suggest a strong buying opportunity, while a red cloud with a price below might indicate selling pressure.
Conclusion:
The Waldo Cloud Bollinger Bands indicator offers a unique blend of volatility, momentum, and trend analysis, providing traders with a multi-faceted view of market conditions. Its customization options make it adaptable to various trading styles and market environments, making it a valuable addition to any trader's toolkit on Trading View.
Zanger Volume Ratio (ZVR)Zanger Volume Ratio (ZVR)
Credits:
Most of the underlying code and logic in this script have been adapted from the work originally published by The_Peaceful_Lizard
Overview
The Zanger Volume Ratio (ZVR) is a powerful indicator designed to reveal market dynamics by comparing current cumulative volume to an average determined over a historical look-back period. It uses the concept of relative volume to not only highlight unusual volume spikes, but also uses color to illustrate how today's trading compares to typical levels. This unique method of volume analysis was popularized by Dan Zanger - a trader known for turning $10,775 into $18,000,000 in less than two years - by identifying key shifts in market interest and volume behavior.
Key Features
Volume Pacing Analysis:
The script calculates a volume delta by comparing the cumulative volume at any given moment to an average derived over a user-defined lookback period (Default 20-day). The resulting percentage difference offers a clear visualization and insight into unusual volume activity.
Dynamic Visual Representation:
Choose between either “Columns” or “Area” plot styles to display the percent difference. Additionally, you have the option to switch between a standard plot or a background color display, with customizable transparency, ensuring the indicator fits seamlessly with your chart’s aesthetics.
Dashboard Integration:
A simple dashboard table is displayed on the chart, showcasing the current ZVR value in real-time. With user-configurable position, text size, alignment, and color options, this feature ensures that the key metric is always visible and easy to interpret.
Why Use the Zanger Volume Ratio?
The ZVR is more than just a volume indicator. It acts as a window into market sentiment by highlighting days when trading interest intensifies. Many traders believe that an unusually high volume ratio may confirm trend strength or signal a reversal, making the indicator a valuable tool when used in conjunction with other technical analysis methods.
Whether you’re monitoring stocks, commodities, or forex markets, the Zanger Volume Ratio offers an accessible yet sophisticated method to decode volume dynamics. Its practical design and real-time visual feedback provide traders of all experience levels with critical data to spot high-potential setups.
Chart Description
First Pane: normal Volume Indicator on the foreground, ZVR as Background colors
Second Pane: ZVR Indicator with Column Style (default)
First panel: normal volume indicator in foreground, ZVR as background colors
Second panel: ZVR indicator with column style (default)
Note: This indicator is intended for use on intraday charts only!
Waldo RSI :oWaldo RSI :o Indicator Guide
The Waldo RSI :o indicator is designed to complement the "Waldo RSI Overlay :o" by providing an RSI-based analysis on TradingView, focusing on macro shifts in market trends. Here's a comprehensive guide on how to use this indicator:
Key Features:
RSI Settings:
RSI Source: Choose from ON RSI, ON HIGH, ON LOW, ON CLOSE, or ON OPEN to determine how RSI calculates pivots.
RSI Settings:
Source: Default is (H+L)/2, but you can select any price for RSI calculation.
Length: Default RSI length is 7, which can be adjusted for sensitivity.
Trend Lines:
Show Trend Lines: Option to display trend lines based on RSI pivot points.
Zigzag Length: Determines pivot point sensitivity.
Confirm Length: Validates pivot points (default is 3).
Colors: Customize colors for Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL) on the RSI.
Label Size and Line Width: Adjust the appearance of labels and lines.
Divergences:
Classic Divergences:
Show Classic Div: Toggle to reveal divergences where RSI and price move in opposite directions.
Colors: Set different colors for bullish and bearish divergence indicators.
Transparency and Line Width: Control the visual impact of divergence signals.
Hidden Divergences:
Similar settings for identifying hidden divergences, suggest trend continuation.
Breakout/Breakdown:
Show Breakout/Breakdown: Generates signals for RSI breakouts or breakdowns, used by "Waldo RSI Overlay :o" for visual chart signals.
Overbought/Oversold Zones:
Show Overbought and OverSold Zones: Highlights when RSI goes above 70 (overbought) or below 30 (oversold).
Moving Averages on RSI:
The default Moving Average (MA) settings are tailored to capture macro shifts in market trends:
Show Moving Averages: Option to overlay two MAs on the RSI for trend confirmation:
Fast RSI MA:
RSI Period: 50 (this is the period over which the RSI is calculated).
MA Length: 50 (the number of periods used for the moving average of the RSI).
Slow RSI MA:
RSI Period: 50 (same as fast for consistency in RSI calculation).
MA Length: 200 (longer term for capturing broader trends).
Crossover Signals: The RSI changes color from red to green based on these moving average crossovers:
When the Fast MA (50 period) crosses above the Slow MA (200 period), the RSI turns green, indicating potential bullish conditions or momentum shift.
Conversely, when the Fast MA crosses below the Slow MA, the RSI turns red, suggesting bearish conditions or a shift back towards a downtrend.
This 50-period RSI crossover setting is used to identify overall macro shifts in the market, providing a clear visual cue for traders looking at longer-term trends.
Ghost Lines (Optional):
Ghost Lines: Option to limit how far RSI trend lines extend, helping to keep the chart less cluttered.
How to Use the Indicator:
Setup:
Configure RSI by choosing the source and setting the length to match your trading style.
Set the zigzag and confirm lengths for appropriate pivot detection.
Trend Analysis:
Monitor the RSI for trend changes using the colored trend lines and labels.
Divergence Detection:
Look for RSI and price divergences to anticipate potential reversals or continuations.
Breakout/Breakdown:
Use these signals in conjunction with "Waldo RSI Overlay :o" for price action confirmation.
Overbought/Oversold:
Identify when the market might be due for a correction or continued momentum.
Moving Averages:
Focus on the color changes in RSI to understand macro trend shifts with the default 50/200 period setup.
Ghost Lines:
Enable for a cleaner chart if you don't need trend lines extending indefinitely.
Usage Tips:
Combine with other indicators for confirmation, as no single tool is foolproof.
Adjust settings to suit different market conditions or trading timeframes.
Use in tandem with "Waldo RSI Overlay :o" for a full trading signal system.
Remember, trading involves significant risk, and historical data does not guarantee future performance. Use this indicator as part of a broader trading strategy.
Waldo RSI Overlay :oWaldo RSI Overlay :o Indicator Guide
Welcome to the guide for the Waldo RSI Overlay :o indicator on TradingView. This tool enhances your trading analysis through RSI-based overlays for trend analysis, divergence detection, and breakout/breakdown signals when used with its companion indicator, Waldo RSI :o.
Key Features:
RSI Overlay:
• RSI Source: Choose from:
o ON RSI: Uses the RSI values directly to detect pivots, focusing on RSI highs and lows for trend analysis.
o ON HIGH, ON CLOSE, ON LOW, ON OPEN:
These options base pivot detection on price action at those specific points, offering an alternative market structure view.
• RSI Settings:
o Source: Default is (H+L)/2, but you can select any price for RSI calculation.
o Length: Default RSI length is 7, which you can adjust for sensitivity.
Trend Lines:
• Show Trend Lines: Toggle to display trend lines based on pivot points.
• Zigzag Length: Sets the sensitivity of pivot point detection.
• Confirm Length: Ensures the validity of pivot points (default is 3).
• Colors: Customize colors for Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL).
• Transparency and Line Width: Control how trend lines and fills appear.
• Label Size: Adjust the size of labels identifying pivot points.
Divergences:
• Classic Divergences:
o Show Classic Div: Enable to highlight regular divergences where price and RSI move in opposite directions.
o Colors: Define colors for bullish and bearish divergence lines and labels.
o Transparency and Line Width: Adjust the visual impact of divergence signals.
• Hidden Divergences:
o Similar settings as classic, but these highlight divergences indicating trend continuation.
Breakout/Breakdown:
• Show Breakout/Breakdown: When activated, this feature signals when the price breaks through previous highs or lows. To activate these breakouts, you need the companion indicator Waldo RSI :o, select the SRC in the External section, and select the crossovers for each one.
This combination provides RSI confirmation for breakout/breakdown events.
Overbought/Oversold Zones:
• Show Overbought and Oversold Zones: Bars are colored when RSI exceeds 70 (purple) or falls below 30 (blue), indicating potential market extremes.
Moving Averages (Optional):
• Show Moving Averages: Option to overlay two moving averages for trend confirmation.
• Source, Type, Length: Customize each MA's configuration.
Ghost Lines (Optional):
• Ghost Lines: When enabled, trend lines extend for only a specified period (Ghost Length) instead of indefinitely.
How to Use the Indicator:
1. Setup:
o Configure RSI settings by choosing the RSI Source and adjusting the RSI Length to suit your trading style.
o Set the Zigzag Length and Confirm Length for trend line sensitivity based on market volatility.
2. Trend Analysis:
o Look at the colored horizontal lines and fills for HH, LH, HL, LL to discern market structure and potential reversal points.
3. Divergence Detection:
o Identify divergences where price and RSI diverge. Regular divergences might signal trend exhaustion, while hidden ones could indicate trend persistence.
4. Breakout/Breakdown Signals:
o Ensure you have both the Waldo RSI Overlay :o and Waldo RSI :o indicators applied. Green triangles below bars signal breakouts; red ones above indicate breakdowns, based on price movement with RSI confirmation from the companion indicator.
5. Overbought/Oversold:
o Use these colored zones to spot potential momentum shifts or reversal areas.
6. Moving Averages on RSI:
o If used, these can help confirm trends or identify crossover signals for additional trade confirmation.
7. Ghost Lines:
o For a less cluttered chart, enable this to limit how far trend lines extend.
Tips for Usage:
• Always combine this indicator with other analytical tools for better confirmation. No single indicator should guide all decisions.
• Adjust settings according to the asset's behavior and your trading timeframe.
• Regularly review your settings as market dynamics change.
Remember, trading involves risk, and past performance doesn't predict future outcomes. Use this indicator within a comprehensive trading strategy.
Relative Performance Indicator by ComLucro - 2025_V01The "Relative Performance Indicator by ComLucro - 2025_V01" is a powerful tool designed to analyze an asset's performance relative to a benchmark index over multiple timeframes. This indicator provides traders with a clear view of how their chosen asset compares to a market index in short, medium, and long-term periods.
Key Features:
Customizable Lookback Periods: Analyze performance across three adjustable periods (default: 20, 50, and 200 bars).
Relative Performance Analysis: Calculate and visualize the difference in percentage performance between the asset and the benchmark index.
Dynamic Summary Label: Displays a detailed breakdown of the asset's and index's performance for the latest bar.
User-Friendly Interface: Includes customizable colors and display options for clear visualization.
How It Works:
The script fetches closing prices of both the asset and a benchmark index.
It calculates percentage changes over the selected lookback periods.
The indicator then computes the relative performance difference between the asset and the index, plotting it on the chart for easy trend analysis.
Who Is This For?:
Traders and investors who want to compare an asset’s performance against a benchmark index.
Those looking to identify trends and deviations between an asset and the broader market.
Disclaimer:
This tool is for educational purposes only and does not constitute financial or trading advice. Always use it alongside proper risk management strategies and backtest thoroughly before applying it to live trading.
Chart Recommendation:
Use this script on clean charts for better clarity. Combine it with other technical indicators like moving averages or trendlines to enhance your analysis. Ensure you adjust the lookback periods to match your trading style and the timeframe of your analysis.
Additional Notes:
For optimal performance, ensure the benchmark index's data is available on your TradingView subscription. The script uses fallback mechanisms to avoid interruptions when index data is unavailable. Always validate the settings and test them to suit your trading strategy.
RSI+EMA+MZONES with DivergencesFeatures:
1. RSI Calculation:
Uses user-defined periods to calculate the RSI and visualize momentum shifts.
Plots key RSI zones, including upper (overbought), lower (oversold), and middle levels.
2. EMA of RSI:
Includes an Exponential Moving Average (EMA) of the RSI for trend smoothing and confirmation.
3. Bullish and Bearish Divergences:
Detects Regular divergences (labeled as “Bull” and “Bear”) for classic signals.
Identifies Hidden divergences (labeled as “H Bull” and “H Bear”) for potential trend continuation opportunities.
4. Customizable Labels:
Displays divergence labels directly on the chart.
Labels can be toggled on or off for better chart visibility.
5. Alerts:
Predefined alerts for both regular and hidden divergences to notify users in real time.
6. Fully Customizable:
Adjust RSI period, lookback settings, divergence ranges, and visibility preferences.
Colors and styles are easily configurable to match your trading style.
How to Use:
RSI Zones: Use RSI and its zones to identify overbought/oversold conditions.
EMA: Look for crossovers or confluence with divergences for confirmation.
Divergences: Monitor for “Bull,” “Bear,” “H Bull,” or “H Bear” labels to spot key reversal or continuation signals.
Alerts: Set alerts to be notified of divergence opportunities without constant chart monitoring.
Relative Strength vs SPX
This indicator calculates the ratio of the current chart's price to the S&P 500 Index (SPX), providing a measure of the stock's relative strength compared to the broader market.
Key Features:
Dynamic High/Low Detection: Highlights periods when the ratio makes a new high (green) or a new low (red) based on a user-defined lookback period.
Customizable Lookback: The lookback period for detecting highs and lows can be adjusted in the settings for tailored analysis.
Visual Overlay: The ratio is plotted in a separate pane, allowing easy comparison of relative strength trends.
This tool is useful for identifying stocks outperforming or underperforming the S&P 500 over specific timeframes.
Intramarket Difference Index StrategyHi Traders !!
The IDI Strategy:
In layman’s terms this strategy compares two indicators across markets and exploits their differences.
note: it is best the two markets are correlated as then we know we are trading a short to long term deviation from both markets' general trend with the assumption both markets will trend again sometime in the future thereby exhausting our trading opportunity.
📍 Import Notes:
This Strategy calculates trade position size independently (i.e. risk per trade is controlled in the user inputs tab), this means that the ‘Order size’ input in the ‘Properties’ tab will have no effect on the strategy. Why ? because this allows us to define custom position size algorithms which we can use to improve our risk management and equity growth over time. Here we have the option to have fixed quantity or fixed percentage of equity ATR (Average True Range) based stops in addition to the turtle trading position size algorithm.
‘Pyramiding’ does not work for this strategy’, similar to the order size input togeling this input will have no effect on the strategy as the strategy explicitly defines the maximum order size to be 1.
This strategy is not perfect, and as of writing of this post I have not traded this algo.
Always take your time to backtests and debug the strategy.
🔷 The IDI Strategy:
By default this strategy pulls data from your current TV chart and then compares it to the base market, be default BINANCE:BTCUSD . The strategy pulls SMA and RSI data from either market (we call this the difference data), standardizes the data (solving the different unit problem across markets) such that it is comparable and then differentiates the data, calling the result of this transformation and difference the Intramarket Difference (ID). The formula for the the ID is
ID = market1_diff_data - market2_diff_data (1)
Where
market(i)_diff_data = diff_data / ATR(j)_market(i)^0.5,
where i = {1, 2} and j = the natural numbers excluding 0
Formula (1) interpretation is the following
When ID > 0: this means the current market outperforms the base market
When ID = 0: Markets are at long run equilibrium
When ID < 0: this means the current market underperforms the base market
To form the strategy we define one of two strategy type’s which are Trend and Mean Revesion respectively.
🔸 Trend Case:
Given the ‘‘Strategy Type’’ is equal to TREND we define a threshold for which if the ID crosses over we go long and if the ID crosses under the negative of the threshold we go short.
The motivating idea is that the ID is an indicator of the two symbols being out of sync, and given we know volatility clustering, momentum and mean reversion of anomalies to be a stylised fact of financial data we can construct a trading premise. Let's first talk more about this premise.
For some markets (cryptocurrency markets - synthetic symbols in TV) the stylised fact of momentum is true, this means that higher momentum is followed by higher momentum, and given we know momentum to be a vector quantity (with magnitude and direction) this momentum can be both positive and negative i.e. when the ID crosses above some threshold we make an assumption it will continue in that direction for some time before executing back to its long run equilibrium of 0 which is a reasonable assumption to make if the market are correlated. For example for the BTCUSD - ETHUSD pair, if the ID > +threshold (inputs for MA and RSI based ID thresholds are found under the ‘‘INTRAMARKET DIFFERENCE INDEX’’ group’), ETHUSD outperforms BTCUSD, we assume the momentum to continue so we go long ETHUSD.
In the standard case we would exit the market when the IDI returns to its long run equilibrium of 0 (for the positive case the ID may return to 0 because ETH’s difference data may have decreased or BTC’s difference data may have increased). However in this strategy we will not define this as our exit condition, why ?
This is because we want to ‘‘let our winners run’’, to achieve this we define a trailing Donchian Channel stop loss (along with a fixed ATR based stop as our volatility proxy). If we were too use the 0 exit the strategy may print a buy signal (ID > +threshold in the simple case, market regimes may be used), return to 0 and then print another buy signal, and this process can loop may times, this high trade frequency means we fail capture the entire market move lowering our profit, furthermore on lower time frames this high trade frequencies mean we pay more transaction costs (due to price slippage, commission and big-ask spread) which means less profit.
By capturing the sum of many momentum moves we are essentially following the trend hence the trend following strategy type.
Here we also print the IDI (with default strategy settings with the MA difference type), we can see that by letting our winners run we may catch many valid momentum moves, that results in a larger final pnl that if we would otherwise exit based on the equilibrium condition(Valid trades are denoted by solid green and red arrows respectively and all other valid trades which occur within the original signal are light green and red small arrows).
another example...
Note: if you would like to plot the IDI separately copy and paste the following code in a new Pine Script indicator template.
indicator("IDI")
// INTRAMARKET INDEX
var string g_idi = "intramarket diffirence index"
ui_index_1 = input.symbol("BINANCE:BTCUSD", title = "Base market", group = g_idi)
// ui_index_2 = input.symbol("BINANCE:ETHUSD", title = "Quote Market", group = g_idi)
type = input.string("MA", title = "Differrencing Series", options = , group = g_idi)
ui_ma_lkb = input.int(24, title = "lookback of ma and volatility scaling constant", group = g_idi)
ui_rsi_lkb = input.int(14, title = "Lookback of RSI", group = g_idi)
ui_atr_lkb = input.int(300, title = "ATR lookback - Normalising value", group = g_idi)
ui_ma_threshold = input.float(5, title = "Threshold of Upward/Downward Trend (MA)", group = g_idi)
ui_rsi_threshold = input.float(20, title = "Threshold of Upward/Downward Trend (RSI)", group = g_idi)
//>>+----------------------------------------------------------------+}
// CUSTOM FUNCTIONS |
//<<+----------------------------------------------------------------+{
// construct UDT (User defined type) containing the IDI (Intramarket Difference Index) source values
// UDT will hold many variables / functions grouped under the UDT
type functions
float Close // close price
float ma // ma of symbol
float rsi // rsi of the asset
float atr // atr of the asset
// the security data
getUDTdata(symbol, malookback, rsilookback, atrlookback) =>
indexHighTF = barstate.isrealtime ? 1 : 0
= request.security(symbol, timeframe = timeframe.period,
expression = [close , // Instentiate UDT variables
ta.sma(close, malookback) ,
ta.rsi(close, rsilookback) ,
ta.atr(atrlookback) ])
data = functions.new(close_, ma_, rsi_, atr_)
data
// Intramerket Difference Index
idi(type, symbol1, malookback, rsilookback, atrlookback, mathreshold, rsithreshold) =>
threshold = float(na)
index1 = getUDTdata(symbol1, malookback, rsilookback, atrlookback)
index2 = getUDTdata(syminfo.tickerid, malookback, rsilookback, atrlookback)
// declare difference variables for both base and quote symbols, conditional on which difference type is selected
var diffindex1 = 0.0, var diffindex2 = 0.0,
// declare Intramarket Difference Index based on series type, note
// if > 0, index 2 outpreforms index 1, buy index 2 (momentum based) until equalibrium
// if < 0, index 2 underpreforms index 1, sell index 1 (momentum based) until equalibrium
// for idi to be valid both series must be stationary and normalised so both series hae he same scale
intramarket_difference = 0.0
if type == "MA"
threshold := mathreshold
diffindex1 := (index1.Close - index1.ma) / math.pow(index1.atr*malookback, 0.5)
diffindex2 := (index2.Close - index2.ma) / math.pow(index2.atr*malookback, 0.5)
intramarket_difference := diffindex2 - diffindex1
else if type == "RSI"
threshold := rsilookback
diffindex1 := index1.rsi
diffindex2 := index2.rsi
intramarket_difference := diffindex2 - diffindex1
//>>+----------------------------------------------------------------+}
// STRATEGY FUNCTIONS CALLS |
//<<+----------------------------------------------------------------+{
// plot the intramarket difference
= idi(type,
ui_index_1,
ui_ma_lkb,
ui_rsi_lkb,
ui_atr_lkb,
ui_ma_threshold,
ui_rsi_threshold)
//>>+----------------------------------------------------------------+}
plot(intramarket_difference, color = color.orange)
hline(type == "MA" ? ui_ma_threshold : ui_rsi_threshold, color = color.green)
hline(type == "MA" ? -ui_ma_threshold : -ui_rsi_threshold, color = color.red)
hline(0)
Note it is possible that after printing a buy the strategy then prints many sell signals before returning to a buy, which again has the same implication (less profit. Potentially because we exit early only for price to continue upwards hence missing the larger "trend"). The image below showcases this cenario and again, by allowing our winner to run we may capture more profit (theoretically).
This should be clear...
🔸 Mean Reversion Case:
We stated prior that mean reversion of anomalies is an standerdies fact of financial data, how can we exploit this ?
We exploit this by normalizing the ID by applying the Ehlers fisher transformation. The transformed data is then assumed to be approximately normally distributed. To form the strategy we employ the same logic as for the z score, if the FT normalized ID > 2.5 (< -2.5) we buy (short). Our exit conditions remain unchanged (fixed ATR stop and trailing Donchian Trailing stop)
🔷 Position Sizing:
If ‘‘Fixed Risk From Initial Balance’’ is toggled true this means we risk a fixed percentage of our initial balance, if false we risk a fixed percentage of our equity (current balance).
Note we also employ a volatility adjusted position sizing formula, the turtle training method which is defined as follows.
Turtle position size = (1/ r * ATR * DV) * C
Where,
r = risk factor coefficient (default is 20)
ATR(j) = risk proxy, over j times steps
DV = Dollar Volatility, where DV = (1/Asset Price) * Capital at Risk
🔷 Risk Management:
Correct money management means we can limit risk and increase reward (theoretically). Here we employ
Max loss and gain per day
Max loss per trade
Max number of consecutive losing trades until trade skip
To read more see the tooltips (info circle).
🔷 Take Profit:
By defualt the script uses a Donchain Channel as a trailing stop and take profit, In addition to this the script defines a fixed ATR stop losses (by defualt, this covers cases where the DC range may be to wide making a fixed ATR stop usefull), ATR take profits however are defined but optional.
ATR SL and TP defined for all trades
🔷 Hurst Regime (Regime Filter):
The Hurst Exponent (H) aims to segment the market into three different states, Trending (H > 0.5), Random Geometric Brownian Motion (H = 0.5) and Mean Reverting / Contrarian (H < 0.5). In my interpretation this can be used as a trend filter that eliminates market noise.
We utilize the trending and mean reverting based states, as extra conditions required for valid trades for both strategy types respectively, in the process increasing our trade entry quality.
🔷 Example model Architecture:
Here is an example of one configuration of this strategy, combining all aspects discussed in this post.
Future Updates
- Automation integration (next update)
