Relative Strength Index w/ 3 Levels & 0 Line Colour (by WJ)NOTE:
// RSI CODE TAKEN FROM DEFAULT INDICATOR
// I HAVE ONLY MADE SOME ADJUSTMENTS FOR VISUAL AID
// I MADE THIS FOR MY OWN USE BUT HAVE DECIDED TO PUBLISH AND SHARE IN CASE ANYBODY WANTS TO USE IT
This is the normal default built-in RSI indicator which I have added some stuff for visual aid:
Added middle line (50)
RSI turns green when crossed above 50
RSI turns red when crossed below 50
RSI background turns green and red on crossover candle based on whether RSI just crossed over or below 50 respectively
Alert notification on the crossover candle
50line
Retracement Levels 1.1This indicator automatically draws the 50% retracement of large moves on a chart. The default setting is 200 bars.
Out of all the Fibonacci levels the simplest and the one I find most profitable is the 50% level. Very often price will respect this level and when combined with key Support/Resistance levels, other indicators, and/or price action study it can be a powerful tool for high probability trades.
The default blue dots follow price with a rolling median based on the major high and major low of the bar setting. The multiplier extends this evaluation even higher with grey and red levels that form on much higher timeframe 50% levels.
Look back on a chart to see how often price respects this key level! You'll never trade without knowledge of it once you've seen it!
