This indicator shows a histogram of the RSI in relation to an ema of the RSI.
The histogram is then smoothed to give early reversal/entry signals.
The actual RSI line with oversold/overbought indication can be displayed or omitted, as preferred.
In addiction to the RSI line or as an alternative to it, the background colour can be set to change folowing the RSI...
Rsi strategy is compiled from Ema 22 and Rsi 66 periods.
When the green line crosses red down, it is considered a sell signal.
When the green line crosses the red up, it is considered a buy signal.
You can interpret according to the Vertical gridlines sampled in the chart.
Hope you had a great Thanksgiving
Now it's my turn to give and all I ask in return is you to be thankful (did I get the "Thanksgiving" thing right?)
The Currency Strength Indicator plots an average of the selected FX pairs in the indicator.
Someone asked me if I could develop an alternative of that script adding a divergence component....
TMsignal - RSI Divergence V1.0: It automatically shows RSI Divergence, being much useful for detecting future changes in the tendency of the current stock, and weakness in the actual tendency.
Different timeframes can be set up to meet your needs.
We hope you like it! Contact us any question or improvement suggestions.
This is a custom indicator of mine that uses the volume weighted average price instead of the close price as the source for calculations of the relative strength index. Buy when the indicator line is green and sell when it is red.
This was a custom request so let me know if there are any other scripts you would like to see me do or if you want something custom done!
It isn't easy to determine if the price of a stock is about to break out. Here’s one way you can determine the relative strength of a breakout, enabling you to act early and realize higher profits.
This indicator was originally developed by Howard Wang Stocks & Commodities V. 33:09 (60–62)
IMPORTANT!!! MAKE SURE "RECALCULATE AFTER ORDER FILLED" IS CHECKED. I will have it on by default in the future.
This is a continuation of my previous scripts of two MACD indicators with a Stochastic RSI indicator.
- Alternate MACD time interval
You can now set the time interval for the second MACD indicator to a different resolution...
This is variation of RSI Divergence strategy.
I have added a filter (long term RSI) to the Rules. strategy BUYs when RSI 50 period is above 50 line and there is divergence on the short term RSI
short term RSI period 5
long term RSI period 50
stopLoss is 8% --- if setting is enabled
RSI 50 is above 50 line
Contains RSI; EMA of RSI; EMA of EMA of RSI; Stochastic Oscillator; 2 Inverse Fisher Transforms on RSI - IFRSI89 and IFRSI233 XOVER on higher timeframes from oversold/overbought is useful signal; RSI Trend/Divergence Candles with color variation based on multiple RSI length detection of trend decay; Chart candle overlay coloring based on RSI, eRSI, and eeRSI EMA55...