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Relative Strength Index (RSI)

Christmas RSI with Jingle Bell [TrendX_]Jingle Bell 🔔, Jingle Bell 🔔, Jingle all the chart 📈 Merry Christmas Tradingview Community !!! Introducing the Jingle Bell Indicator, a festive Pine Script creation designed to spread joy and luck to your trading endeavors. The Bow will change colors based on the reaction of RSI with the 50 level. Add a Jingle Bell drawing to your charts and celebrate the most wonderful time of the year. Turn on alert for today to get my Merry Christmas wish. This indicator is my gift to the Tradingview community, designed to bring a touch of luck to your trades. Hope this Jingle Bell will bring some joy and festive vibes to your trading experience.
Pine Script™ indicator
by TrendX_
Multi-Feature IndicatorThe Multi-Feature Indicator combines three popular technical analysis tools — RSI, Moving Averages (MA), and MACD — into a single indicator to provide unified buy and sell signals. This script is designed for traders who want to filter out noise and focus on signals confirmed by multiple criteria. Features: RSI (Relative Strength Index): Measures momentum and identifies overbought (70) and oversold (30) conditions. A signal is triggered when RSI crosses these thresholds. Moving Averages (MA): Uses a short-term moving average (default: 9 periods) and a long-term moving average (default: 21 periods). Buy signals occur when the short-term MA crosses above the long-term MA, indicating an uptrend. Sell signals occur when the short-term MA crosses below the long-term MA, indicating a downtrend. MACD (Moving Average Convergence Divergence): A trend-following momentum indicator that shows the relationship between two moving averages of an asset's price. Signals are based on the crossover of the MACD line and its signal line. Unified Buy and Sell Signals: Buy Signal: Triggered when: RSI crosses above 30 (leaving oversold territory). Short-term MA crosses above the long-term MA. MACD line crosses above the signal line. Sell Signal: Triggered when: RSI crosses below 70 (leaving overbought territory). Short-term MA crosses below the long-term MA. MACD line crosses below the signal line. Visualization: The indicator plots the short-term and long-term moving averages on the price chart. Green "BUY" labels appear below price bars when all buy conditions are met. Red "SELL" labels appear above price bars when all sell conditions are met. Parameters: RSI Length: Default is 14. This controls the sensitivity of the RSI. Short MA Length: Default is 9. This determines the short-term trend. Long MA Length: Default is 21. This determines the long-term trend. Use Case: The Multi-Feature Indicator is ideal for traders seeking higher confirmation before entering or exiting trades. By combining momentum (RSI), trend (MA), and momentum shifts (MACD), it reduces false signals and enhances decision-making. How to Use: Apply the indicator to your chart in TradingView. Look for "BUY" or "SELL" signals, which appear when all conditions align. Use this tool in conjunction with other analysis techniques for best results. Note: The default settings are suitable for many assets, but you may need to adjust them for different timeframes or market conditions. This indicator is meant to assist in trading decisions and should not be used as the sole basis for trading.
Pine Script™ indicator
by filbek
Smart Trend, Crypto - WORK IN PROGRESSDescription of the Script This Pine Script is a trend-following trading indicator designed to help traders identify buy and sell opportunities while managing risk through take-profit (TP) and stop-loss (SL) levels. Here’s what the script does in detail: Core Features: 1. Trend Detection Using EMA Crossover: • Fast EMA and Slow EMA are calculated using adjustable lengths. • A Buy Signal is triggered when the Fast EMA crosses above the Slow EMA (bullish trend). • A Sell Signal is triggered when the Fast EMA crosses below the Slow EMA (bearish trend). 2. Support for Multi-Condition Signals: • The script combines EMA crossovers, RSI levels, and ADX strength to determine signals: • Relative Strength Index (RSI): Detects overbought or oversold conditions. • Average Directional Index (ADX): Ensures trends have sufficient strength. • Signals only trigger if all selected conditions are met. Risk Management Features: 3. Stop-Loss Levels: • Stop-loss levels are calculated based on a percentage distance from the last Buy or Sell Signal. • For a Buy Signal, the stop-loss is set below the buy price. • For a Sell Signal, the stop-loss is set above the sell price. • These levels are plotted as horizontal lines on the chart. 4. Take-Profit Levels: • Take-profit levels are calculated as a percentage distance from the last Buy or Sell Signal: • For a Buy Signal, the TP level is above the buy price. • For a Sell Signal, the TP level is below the sell price. • Take-Profit Bubbles: • Small bubbles appear on the chart at TP levels only for the current Buy or Sell Signal. • This helps focus on the latest trade without cluttering the chart. Visual Aids: 5. Background Highlighting for Trend Identification: • The chart background changes color to reflect the detected trend: • Green for a bullish trend (Buy Signal). • Red for a bearish trend (Sell Signal). 6. Clear Signal Markers: • Buy Signal: A green triangle below the price bar. • Sell Signal: A red triangle above the price bar. • These markers help visually identify signal points on the chart. Customizability: • Adjustable Parameters: The script allows the user to customize: • EMA lengths, ADX threshold, RSI levels, TP percentage, and SL percentage. • Preset Configurations: Quick settings for popular assets like BTC, ETH, and others. Usage: 1. Buy and Sell Signals: • Use the signals to enter long (Buy) or short (Sell) trades. 2. Risk Management: • Follow the Stop Loss and Take Profit levels to manage risk and lock in profits. 3. Trend Confirmation: • Observe background colors and EMA lines to confirm trend direction. This script provides a comprehensive tool for identifying trades, managing risk, and visually simplifying trend-following strategies. Let me know if you need further clarifications!
Pine Script™ indicator
by Tripsl2023
Custom RSI- Ashish SinghThe RSI Buy Above 60 and Sell Below 40 strategy is a trading approach based on the Custom RSI Indicator, which focuses on momentum shifts in the 40-60 range. Here's how it operates: Buy Above 60: Condition: When the RSI crosses above 60, it signals increasing bullish momentum. Interpretation: The market is transitioning into a strong upward trend, suggesting a potential buying opportunity. Execution: Enter a buy position when the RSI value exceeds 60. Confirm the signal using other technical tools (e.g., volume analysis, support/resistance levels). Consider setting a stop-loss below a recent support level or below the 40 RSI level as a safeguard. Sell Below 40: Condition: When the RSI drops below 40, it indicates growing bearish momentum. Interpretation: The market is entering a downtrend, making it an opportune moment to sell or short. Execution: Enter a sell position (or close long positions) when the RSI value falls below 40. Confirm the signal with complementary analysis (e.g., trendlines, bearish candlestick patterns). Place a stop-loss above a recent resistance level or above the 60 RSI level for risk management. Key Considerations: Avoiding Whipsaws: In sideways or low-volatility markets, this strategy may generate false signals. Use additional filters like moving averages or Bollinger Bands to confirm trends. Exit Strategies: Consider exiting positions when the RSI reverts to the opposite threshold (e.g., sell when RSI drops below 60 after a buy, or buy back when RSI climbs above 40 after a sell). Use trailing stops to lock in profits during strong trends. Combining with Other Tools: Pair the RSI signals with broader trend indicators like the MACD or Moving Averages to avoid acting on weak trends. Risk Management: Always define risk limits and position sizes to protect capital, particularly in volatile markets. Example: Buy Scenario: If the RSI rises from 58 to 62, confirming bullish momentum, initiate a long position. Exit the trade if the RSI falls back below 60 or based on a pre-defined profit target. Sell Scenario: If the RSI drops from 42 to 38, signaling bearish momentum, initiate a short position. Exit the trade if the RSI climbs back above 40 or hits a stop-loss. This simple yet effective strategy can provide clear entry and exit points when applied with discipline and supported by other market analysis tools.
Pine Script™ indicator
by AshishSingh
Simple Technical DashboardSimple Technical Dashboard is a comprehensive Pine Script indicator designed for rapid market analysis on TradingView charts. It presents a color-coded table in the top-right corner of the chart, enabling traders to instantly assess market conditions through multiple technical indicators. The dashboard operates as a chart overlay, providing real-time status updates for the selected trading symbol without interfering with the main price action display. Key features include - dynamic monitoring of three exponential moving averages (20, 50, and 200-period EMA) - RSI with a 14-period setting - MACD using standard parameters (12, 26, 9) - Stochastic oscillator with 3-period smoothing. Each indicator's status is displayed through an intuitive color scheme where - green represents bullish conditions - red indicates bearish signals. The dashboard simplifies complex technical analysis by converting multiple indicators into clear visual signals, making it particularly valuable for quick market assessment and trade decision validation.
Pine Script™ indicator
by bitzuist
Uptrick: Smart BoundariesThis script is designed to help traders identify potential turning points in the market by combining RSI (Relative Strength Index) signals and Bollinger Bands. It also includes a built-in mechanism to manage the number of consecutive buy and sell entries, often referred to as pyramiding. Below you will find a detailed explanation of how the script works, how it was designed, and some suggestions on using it effectively in your trading workflow. Overview The script calculates RSI using a user-defined length and identifies when the RSI is in overbought or oversold territory based on user-selected threshold levels (default values for RSI overbought and oversold are 70 and 30, respectively). Additionally, it plots Bollinger Bands, which can provide context on potential price volatility. A Bollinger Band uses a moving average of the closing price plus and minus a configurable multiplier of the standard deviation. When price closes below the lower band, it may suggest a temporary oversold condition. Conversely, when price closes above the upper band, it may suggest an overbought condition. Combining RSI and Bollinger Bands The buy condition is triggered when the RSI is below the defined oversold level and the closing price is below the lower Bollinger Band. The idea behind this is that both momentum (as indicated by RSI) and volatility (as indicated by Bollinger Bands) are pointing to a potential undervaluation of price. The sell condition is the mirror image of that logic: it is triggered when the RSI is above the defined overbought level and the closing price is above the upper Bollinger Band. These signals aim to highlight points in the market where there could be a momentum shift or a mean reversion. Pyramiding Logic A unique aspect of this script is how it manages pyramiding, which is the practice of taking multiple entries in the same direction. For example, if you already have a buy entry and the conditions remain bullish, you might want to add an additional position. However, controlling how often you add those positions can be crucial in risk management. The script includes a variable that counts the number of buys and sells currently triggered. Once the maximum allowed number of entries per side (defined as maxPyramiding) is reached, no more entries of that type are plotted. There is an optional feature (enablePyramiding) that allows you to reduce pyramiding by disabling it if you prefer to take only one entry per signal. When disabled, the script will not allow additional positions in the same direction until a reset occurs, which happens when the condition for that side is not met. Labels and Visuals Every time a buy or sell condition is triggered, the script plots a small label on the chart at the bar index. A buy label appears underneath the price to visually mark the entry, while a sell label appears above the price. These labels make it easy to see on the chart exactly when both conditions coincide (RSI condition and Bollinger Band condition). This visual reference helps traders quickly spot patterns and potential entry or exit points. Alongside these signals, you can also see the Bollinger Bands plotted in real time. The upper band is shown in red, and the lower band is shown in green. Having these bands on the chart allows you to see when price is trading near the extremes of its recent average range. Alerts Alerts can be set to notify you when a buy or sell condition appears. This means that even if you are not actively watching the chart, you can receive a notification (through TradingView's alert system) whenever RSI crosses into oversold or overbought territory in conjunction with price closing outside the Bollinger Bands. Potential Uses Traders might use this tool for a range of styles, from scalping to swing trading. Since the signals are based on RSI and Bollinger Bands, it can help highlight points of possible mean reversion, but it does not guarantee future performance. It may be beneficial to combine it with other forms of technical analysis, such as volume studies or support/resistance levels, to help filter out weaker signals. Customization One of the main strengths of this script is its flexibility. All key parameters can be tuned to fit your personal trading style and risk tolerance. You can adjust: • The RSI length and threshold levels for overbought/oversold. • Bollinger Band length and multiplier to catch wider or narrower volatility bands. • The maximum allowed pyramiding entries per side. • Whether to enable or disable pyramiding logic altogether. Uniqueness of This Script A distinctive aspect of this script is its combination of a classic momentum indicator (RSI) with Bollinger Bands, plus an intelligent pyramiding component. While many indicators simply plot RSI or Bollinger Bands, this script synchronizes the two to highlight oversold and overbought conditions more precisely. At the same time, the built-in pyramiding counter allows you to manage how many times you enter on the same signal direction, giving you a dynamic scaling feature not commonly seen in standalone RSI or Bollinger Band scripts. This approach helps traders maintain consistent risk management by preventing excessive stacking of positions when signals continue to appear, which can be beneficial for those who like to scale into trades gradually. All these factors contribute to the script's uniqueness and potential usefulness for a wide range of trading styles, from cautious single-entry traders to those who prefer incremental position building. Conclusion This script is a helpful tool for traders interested in combining momentum and volatility indicators. By integrating RSI signals with Bollinger Band breakouts, it tries to uncover moments when price might be at an extreme. It further offers pyramiding control, which can be appealing to traders who like to scale into positions. As with any technical indicator or script, it is important to do additional research and not rely solely on these signals. Always consider using proper risk management, and keep in mind that no tool can accurately predict future prices every time. BACKTESTED RESULTS The script has proven to be the most profitable on the 3 mins timeframe with these settings: RSI Length: 17 Overbought Level: 70 Oversold Level: 33 Bollinger Bands Length: 19 Bollinger Bands Multiplier: 2 As of 22nd December 2024 Pyramiding was set to 10 Not financial advice TOTAL WINNING RATE: 75.04%
Pine Script™ indicator
by Uptrick
Cevval's Future Long Short Percentage PredictionThis script is designed to calculate and display the dynamic win rates of long and short trades based on historical price data and various indicators. It calculates the long and short signals using price change, volume, and the Relative Strength Index (RSI). The script uses a simple moving average (SMA) to smooth out price changes and volume over a given period (14 bars in this case). Long Signal is triggered when the price change is positive, RSI is above 50, and the volume exceeds the average volume. Short Signal is triggered when the price change is negative, RSI is below 50, and the volume exceeds the average volume. The script then counts the occurrences of long and short signals over the last 14 bars and calculates the win rate for both long and short trades. These win rates are plotted on the chart as percentage values, with the long win rate shown in green and the short win rate in red. Additionally, dynamic labels are created next to the most recent bar, displaying the long and short win rates. These labels adjust their position according to the price of the most recent bar, ensuring they stay positioned correctly even when the chart is scrolled or zoomed. In essence, the script offers a dynamic, real-time representation of the potential success rates of long and short trades based on price and volume data, allowing traders to make more informed decisions.
Pine Script™ indicator
by BoraErbasoglu
RSI with Reverse RSIThe RSI with Reverse RSI indicator is a powerful tool designed for traders who want an enhanced view of market momentum using two complementary RSI calculations: 1. Standard RSI: The classic Relative Strength Index (RSI) to measure overbought and oversold conditions. 2. Reverse RSI: A flipped version of RSI, offering an inverted perspective to provide additional context for decision-making. Features: • Dynamic Colors: • Green indicates the RSI is above the upper threshold. • Red indicates the RSI is below the lower threshold. • Customizable Levels: Set your preferred overbought/oversold levels for both RSI calculations. • Alerts: Optional real-time alerts notify you when the RSI crosses the 50-level midpoint. • Visual Simplicity: Both RSIs are plotted as lines with changing colors, making it easier to interpret. Use Cases: • Spot potential reversals with overbought/oversold levels. • Monitor momentum shifts when crossing the 50-level midpoint. • Combine insights from standard and reversed RSIs for better entry/exit strategies. Customization Options: • Periods for both RSIs. • Levels for determining overbought/oversold conditions. • Enable/disable alerts for RSI midpoint crossings. Whether you’re a beginner or an experienced trader, this indicator simplifies the RSI analysis by combining the standard and flipped RSI in one chart.
Pine Script™ indicator
by amirnajafi66
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.
Pine Script™ indicator
by lordoflolz
RSI Divergence + Sweep + Signal + Alerts Toolkit [TrendX_]The RSI Toolkit is a powerful set of tools designed to enhance the functionality of the traditional Relative Strength Index (RSI) indicator. By integrating advanced features such as Moving Averages, Divergences, and Sweeps, it helps traders identify key market dynamics, potential reversals, and newly-approach trading stragies. The toolkit expands on standard RSI usage by incorporating features from smart money concepts (Just try to be creative 🤣 Hope you like it), providing a deeper understanding of momentum, liquidity sweeps, and trend reversals. It is suitable for RSI traders who want to make more informed and effective trading decisions. 💎 FEATURES RSI Moving Average The RSI Moving Average (RSI MA) is the moving average of the RSI itself. It can be customized to use various types of moving averages, including Simple Moving Average (SMA), Exponential Moving Average (EMA), Relative Moving Average (RMA), and Volume-Weighted Moving Average (VWMA). The RSI MA smooths out the RSI fluctuations, making it easier to identify trends and crossovers. It helps traders spot momentum shifts and potential entry/exit points by observing when the RSI crosses above or below its moving average. RSI Divergence RSI Divergence identifies discrepancies between price action and RSI momentum. There are two types of divergences: Regular Divergence - Indicates a potential trend reversal; Hidden Divergence - Suggests the continuation of the current trend. Divergence is a critical signal for spotting weakness or strength in a trend. Regular divergence highlights potential trend reversals, while hidden divergence confirms trend continuation, offering traders valuable insights into market momentum and possible trade setups. RSI Sweep RSI Sweep detects moments when the RSI removes liquidity from a trend structure by sweeping above or below the price at key momentum level crossing. These sweeps are overlaid on the RSI chart for easier visualized. RSI Sweeps are significant because they indicate potential turning points in the market. When RSI sweeps occur: In an uptrend - they suggest buyers' momentum has peaked, possibly leading to a reversal; In a downtrend - they indicate sellers’ momentum has peaked, also hinting at a reversal. (Note: This feature incorporates Liquidity Sweep concepts from Smart Money Concepts into RSI analysis, helping RSI traders identify areas where liquidity has been removed, which often precedes a trend reversal) 🔎 BREAKDOWN RSI Moving Average How MA created: The RSI value is calculated first using the standard RSI formula. The MA is then applied to the RSI values using the trader’s chosen type of MA (SMA, EMA, RMA, or VWMA). The flexibility to choose the type of MA allows traders to adjust the smoothing effect based on their trading style. Why use MA: RSI by itself can be noisy and difficult to interpret in volatile markets. Applying moving average would provide a smoother, more reliable view of RSI trends. RSI Divergence How Regular Divergence created: Regular Divergence is detected when price forms HIGHER highs while RSI forms LOWER highs (bearish divergence) or when price forms LOWER lows while RSI forms HIGHER lows (bullish divergence). How Hidden Divergence created: Hidden Divergence is identified when price forms HIGHER lows while RSI forms LOWER lows (bullish hidden divergence) or when price forms LOWER highs while RSI forms HIGHER highs (bearish hidden divergence). Why use Divergence: Divergences provide early warning signals of a potential trend change. Regular divergence helps traders anticipate reversals, while hidden divergence supports trend continuation, enabling traders to align their trades with market momentum. RSI Sweep How Sweep created: Trend Structure Shift are identified based on the RSI crossing key momentum level of 50. To track these sweeps, the indicator pinpoints moments when liquidity is removed from the Trend Structure Shift. This is a direct application of Liquidity Sweep concepts used in Smart Money theories, adapted to RSI. Why use Sweep: RSI Sweeps are created to help traders detect potential trend reversals. By identifying areas where momentum has exhausted during a certain trend direction, the indicator highlights opportunities for traders to enter trades early in a reversal or continuation phase. ⚙️ USAGES Divergence + Sweep This is an example of combining Devergence & Sweep in BTCUSDT (1 hour) Wait for a divergence (regular or hidden) to form on the RSI. After the divergence is complete, look for a sweep to occur. A potential entry might be formed at the end of the sweep. Divergences indicate a potential trend change, but confirmation is required to ensure the setup is valid. The RSI Sweep provides that confirmation by signaling a liquidity event, increasing the likelihood of a successful trade. Sweep + MA Cross This is an example of combining Devergence & Sweep in BTCUSDT (1 hour) Wait for an RSI Sweep to form then a potential entry might be formed when the RSI crosses its MA. The RSI Sweep highlights a potential turning point in the market. The MA cross serves as additional confirmation that momentum has shifted, providing a more reliable and more potential entry signal for trend continuations. DISCLAIMER This indicator is not financial advice, it can only help traders make better decisions. There are many factors and uncertainties that can affect the outcome of any endeavor, and no one can guarantee or predict with certainty what will occur. Therefore, one should always exercise caution and judgment when making decisions based on past performance.
Pine Script™ indicator
by TrendX_
1
RSI BB StdDev SignalOverview The RSI BB StdDev Signal Indicator is a powerful tool designed to enhance your trading strategy by combining the Relative Strength Index (RSI) with Bollinger Bands (BB). This unique combination allows traders to identify potential buy and sell signals more accurately by leveraging the strengths of both indicators. The RSI helps in identifying overbought and oversold conditions, while the Bollinger Bands provide a dynamic range to assess volatility and potential price reversals. Key Features — RSI Calculation: The indicator calculates the RSI based on user-defined parameters, allowing for customization to fit different trading styles. — Bollinger Bands Integration: The RSI values are smoothed using a moving average, and Bollinger Bands are applied to this smoothed RSI to generate buy and sell signals. — Divergence Detection: The indicator includes an optional feature to detect and alert on bullish and bearish divergences between the RSI and price action. — Customizable Alerts: Users can set up alerts for buy and sell signals, as well as for divergences, ensuring they never miss a trading opportunity. — Visual Aids: The indicator plots the RSI, Bollinger Bands, and signals on the chart, making it easy to visualize and interpret the data. How It Works 1. RSI Calculation: — The RSI is calculated using the change in the source input (default is close price) over a specified period. — The RSI values are then plotted on the chart with customizable overbought and oversold levels. 2. Smoothing and Bollinger Bands: — The RSI values are smoothed using a moving average (SMA, EMA, SMMA, WMA, VWMA) selected by the user. — Bollinger Bands are applied to the smoothed RSI to create dynamic upper and lower bands. 3. Signal Generation: —Buy signals are generated when the RSI crosses above the lower Bollinger Band. —Sell signals are generated when the RSI crosses below the upper Bollinger Band. —These signals are plotted on both the RSI pane and the main price chart for easy reference. 4. Divergence Detection: — The indicator can detect and alert on regular bullish and bearish divergences between the RSI and price action. — Bullish divergences occur when the price makes a lower low, but the RSI makes a higher low. — Bearish divergences occur when the price makes a higher high, but the RSI makes a lower high. Usage 1. Setting Up: — Add the indicator to your TradingView chart. — Customize the RSI length, source, and other parameters in the settings panel. — Enable or disable the divergence detection based on your trading strategy. 2. Interpreting Signals: — Use the buy and sell signals generated by the RSI crossing the Bollinger Bands as potential entry and exit points. — Pay attention to divergences for additional confirmation of trend reversals. 3. Alerts: — Set up alerts for buy and sell signals to receive notifications in real-time. — Enable divergence alerts to be notified of potential trend reversals. Conclusion The RSI BB StdDev Signal Indicator is a comprehensive tool that combines the strengths of the RSI and Bollinger Bands to provide traders with more accurate and reliable signals. Whether you are a beginner or an experienced trader, this indicator can enhance your trading strategy by offering clear visual cues and customizable alerts. Note This indicator is provided with open-source code, allowing users to understand its logic and customize it further if needed. The detailed description and customizable settings ensure that traders of all levels can benefit from its unique features.
Pine Script™ indicator
by trade_lexx
Momentum Matrix (BTC-COIN)The Momentum Matrix (BTC-COIN) indicator analyzes the momentum relationship between Coinbase stock ( NASDAQ:COIN ) and Bitcoin ( CRYPTOCAP:BTC ). By combining RSI, correlation, and dominance metrics, it identifies bullish and bearish macro trends to align trades with market momentum. How It Works Price Inputs: Pulls weekly price data for CRYPTOCAP:BTC and NASDAQ:COIN for macro analysis. Metrics Calculated: • RSI Divergence: Measures momentum differences between CRYPTOCAP:BTC and $COIN. • Price Ratio: Tracks the $COIN/ CRYPTOCAP:BTC relationship relative to its long-term average (SMA). • Correlation: Analyzes price co-movement between CRYPTOCAP:BTC and $COIN. • Dominance Impact: Incorporates CRYPTOCAP:BTC dominance for broader crypto trends. Composite Momentum Score: Combines these metrics into a smoothed macro momentum value. Thresholds for Trend Detection: Upper and lower thresholds dynamically adapt to market conditions. Signals and Visualization: • Buy Signal: Momentum exceeds the upper threshold, indicating bullish trends. • Sell Signal: Momentum falls below the lower threshold, indicating bearish trends. • Background Colors: Green (bullish), Red (bearish). Strengths Integrates multiple metrics for robust macro analysis. Dynamic thresholds adapt to market conditions. Effective for identifying macro momentum shifts. Limitations Lag in high volatility due to smoothing. Less effective in choppy, sideways markets. Assumes CRYPTOCAP:BTC dominance drives NASDAQ:COIN momentum, which may not always hold true. Improvements Multi-Timeframe Analysis: Add daily or monthly data for precision. Volume Filters: Include volume thresholds for signal validation. Additional Metrics: Consider MACD or Stochastics for further confirmation. Complementary Tools Volume Indicators: OBV or cumulative delta for confirmation. Trend-Following Systems: Pair with moving averages for timing. Market Breadth Metrics: Combine with CRYPTOCAP:BTC dominance trends for context.
Pine Script™ indicator
by SHA256orBUST
DAILY Supertrend + EMA Crossover with RSI FilterThis strategy is a technical trading approach that combines multiple indicators—Supertrend, Exponential Moving Averages (EMAs), and the Relative Strength Index (RSI)—to identify and manage trades. Core Components: 1. Exponential Moving Averages (EMAs): Two EMAs, one with a shorter period (fast) and one with a longer period (slow), are calculated. The idea is to spot when the faster EMA crosses above or below the slower EMA. A fast EMA crossing above the slow EMA often suggests upward momentum, while crossing below suggests downward momentum. 2. Supertrend Indicator: The Supertrend uses Average True Range (ATR) to establish dynamic support and resistance lines. These lines shift above or below price depending on the prevailing trend. When price is above the Supertrend line, the trend is considered bullish; when below, it’s considered bearish. This helps ensure that the strategy trades only in the direction of the overall trend rather than against it. 3. RSI Filter: The RSI measures momentum. It helps avoid buying into markets that are already overbought or selling into markets that are oversold. For example, when going long (buying), the strategy only proceeds if the RSI is not too high, and when going short (selling), it only proceeds if the RSI is not too low. This filter is meant to improve the quality of the trades by reducing the chance of entering right before a reversal. 4. Time Filters: The strategy only triggers entries during user-specified date and time ranges. This is useful if one wants to limit trading activity to certain trading sessions or periods with higher market liquidity. 5. Risk Management via ATR-based Stops and Targets: Both stop loss and take profit levels are set as multiples of the ATR. ATR measures volatility, so when volatility is higher, both stops and profit targets adjust to give the trade more breathing room. Conversely, when volatility is low, stops and targets tighten. This dynamic approach helps maintain consistent risk management regardless of market conditions. Overall Logic Flow: - First, the market conditions are analyzed through EMAs, Supertrend, and RSI. - When a buy (long) condition is met—meaning the fast EMA crosses above the slow EMA, the trend is bullish according to Supertrend, and RSI is below the specified “overbought” threshold—the strategy initiates or adds to a long position. - Similarly, when a sell (short) condition is met—meaning the fast EMA crosses below the slow EMA, the trend is bearish, and RSI is above the specified “oversold” threshold—it initiates or adds to a short position. - Each position is protected by an automatically calculated stop loss and a take profit level based on ATR multiples. Intended Result: By blending trend detection, momentum filtering, and volatility-adjusted risk management, the strategy aims to capture moves in the primary trend direction while avoiding entries at excessively stretched prices. Allowing multiple entries can potentially amplify gains in strong trends but also increases exposure, which traders should consider in their risk management approach. In essence, this strategy tries to ride established trends as indicated by the Supertrend and EMAs, filter out poor-quality entries using RSI, and dynamically manage trade risk through ATR-based stops and targets.
Pine Script™ strategy
by Mohamed_Abbas
Double RSIDouble RSI (DRSI) Indicator The Double RSI (DRSI) is a technical analysis tool designed to provide traders with enhanced buy and sell signals by identifying uptrend and downtrend thresholds. It refines traditional RSI-based signals by applying a "double calculation" to the Relative Strength Index (RSI), improving precision in detecting trend changes. Key Concepts Behind the Indicator 1. Double RSI Calculation The DRSI indicator takes the standard RSI (calculated using the closing price over a specified length) and applies a second RSI calculation to it. This creates a smoother, more refined RSI value, making it more effective at highlighting the general trend of the market. RSI: Measures the strength of recent price movements, ranging from 0 to 100. Double RSI (DRSI): Applies the RSI formula to the RSI values themselves, smoothing out fluctuations and generating clearer signals. How Does the Indicator Work? The DRSI identifies uptrends and downtrends using two user-defined thresholds: Uptrend Threshold (Default = 59): A value above this threshold signals a potential shift into an uptrend. Downtrend Threshold (Default = 52): A value below this threshold signals a potential shift into a downtrend. Signal Generation Buy Signal: A crossover occurs when the DRSI value crosses above the Downtrend Threshold, signaling the beginning of an upward movement. Sell Signal: A crossunder occurs when the DRSI value crosses below the Uptrend Threshold, signaling the beginning of a downward movement. Customizable Inputs The indicator offers customizable settings for increased flexibility: DRSI Length (Default = 13): Determines the lookback period for RSI calculations. A shorter length increases sensitivity, while a longer length smooths the signals. Uptrend Threshold (Default = 59): Sets the level above which an uptrend is confirmed. Downtrend Threshold (Default = 52): Sets the level below which a downtrend is confirmed. Bar Color and Glow Effects: Traders can enable colored candles or glowing DRSI lines for better visual representation. Why is This Indicator Useful for Traders? 1. Noise Reduction By applying a second RSI calculation, the DRSI smooths out minor fluctuations and highlights the overall trend. 2. Clear Uptrend and Downtrend Signals The indicator provides intuitive buy (green arrow) and sell (red arrow) markers, simplifying decision-making. 3. Customizable Thresholds Traders can adjust the thresholds and length to better suit specific trading strategies or market conditions. 4. Bar Coloring Bars are color-coded to indicate the trend: Green (Above Uptrend Threshold): Indicates an uptrend. Red (Below Downtrend Threshold): Indicates a downtrend. How the Indicator Appears on the Chart DRSI Line: A smooth line derived from the double RSI calculation. Threshold Lines: Two horizontal lines (green for the Uptrend Threshold, red for the Downtrend Threshold) to visualize trend changes. Colored Candles: Candlesticks dynamically change color based on the trend direction (green for uptrends, red for downtrends). Buy/Sell Markers: Buy Signal: A green upward triangle below the bar, marking the start of an uptrend. Sell Signal: A red downward triangle above the bar, marking the start of a downtrend. In Summary The Double RSI (DRSI) indicator is a powerful tool for identifying uptrends and downtrends with: Smoothed trend detection using double-calculated RSI values. Clear, actionable buy and sell signals. Customizable settings to match different trading styles. By focusing on trend thresholds rather than overbought or oversold levels, the DRSI provides traders with precise, noise-free signals to optimize their trading decisions.
Pine Script™ indicator
by Clokivez
3
RSI Divergence - Left Candles Onlyrsi The **RSI Divergence** indicator in this script is designed to highlight **divergence** between the **Relative Strength Index (RSI)** and **price action** on a chart. Divergence can be a key signal for potential trend reversals or continuation in technical analysis. ### **Key Components of the Indicator:** 1. **RSI Calculation:** - The **Relative Strength Index (RSI)** is calculated using a typical 14-period length, but the user can customize this input. - RSI is a momentum oscillator that measures the speed and change of price movements, oscillating between 0 and 100. Values above 70 indicate overbought conditions, and values below 30 indicate oversold conditions. 2. **Divergence Logic:** - **Bullish Divergence:** Occurs when the price forms a **lower low**, but the RSI forms a **higher low**. This suggests that despite price continuing to drop, momentum (RSI) is strengthening, which may indicate a potential price reversal to the upside. - **Bearish Divergence:** Occurs when the price forms a **higher high**, but the RSI forms a **lower high**. This indicates that even though price is rising, the momentum (RSI) is weakening, which could signal a price reversal to the downside. 3. **Pivot Identification:** - The script identifies **pivot points** (local highs and lows) on both price and RSI. - **Bullish Divergence:** A lower price low with a higher RSI low. - **Bearish Divergence:** A higher price high with a lower RSI high. 4. **Lookback Periods:** - **Lookback Left (lookbackLeft):** Defines the number of bars to look back for pivot confirmation. This allows for adjusting the sensitivity of the divergence. - The **divergence range** is constrained by two parameters: - **Minimum range (rangeLower):** The minimum number of bars for divergence to be considered. - **Maximum range (rangeUpper):** The maximum number of bars for divergence to be considered. 5. **Signal Generation and Plotting:** - When a **bullish divergence** is detected, a **green label** is plotted below the bar where the divergence occurs. - When a **bearish divergence** is detected, a **red label** is plotted above the bar. - The script uses **`plotshape()`** to plot these labels on the chart. 6. **Alerts:** - Alerts are configured for both **bullish** and **bearish divergences** so that you can be notified when a divergence signal occurs. --- ### **How the Indicator Works:** - The RSI and price action are compared using **pivots**: The script checks whether the price and RSI are forming new highs or lows within the specified **lookback period**. - If the conditions for divergence (higher/lower RSI pivot vs price pivot) are met, a signal is plotted on the chart. - The script helps to visually identify potential reversal points and allows users to set alerts for these divergence signals. --- ### **Use Case:** - This script is useful for traders looking to trade potential trend reversals based on **divergence** between price and RSI. - **Bullish divergence** can indicate a **buy** opportunity, while **bearish divergence** can suggest a **sell** opportunity. - The indicator works best in **volatile markets** and when combined with other technical analysis tools for confirmatio
Pine Script™ indicator
by sarveshmandlik7
RSI and Bollinger Bands Screener [deepakks444]Indicator Overview The indicator is designed to help traders identify potential long signals by combining the Relative Strength Index (RSI) and Bollinger Bands across multiple timeframes. This combination allows traders to leverage the strengths of both indicators to make more informed trading decisions. Understanding RSI What is RSI? The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Developed by J. Welles Wilder Jr. for stocks and forex trading, the RSI is primarily used to identify overbought or oversold conditions in an asset. How RSI Works: Calculation: The RSI is calculated using the average gains and losses over a specified period, typically 14 periods. Range: The RSI oscillates between 0 and 100. Interpretation: Key Features of RSI: Momentum Indicator: RSI helps identify the momentum of price movements. Divergences: RSI can show divergences, where the price makes a higher high, but the RSI makes a lower high, indicating potential reversals. Trend Identification: RSI can also help identify trends. In an uptrend, the RSI tends to stay above 50, and in a downtrend, it tends to stay below 50. Understanding Bollinger Bands What is Bollinger Bands? Bollinger Bands are a type of trading band or envelope plotted two standard deviations (positively and negatively) away from a simple moving average (SMA) of a price. Developed by financial analyst John Bollinger, Bollinger Bands consist of three lines: Upper Band: SMA + (Standard Deviation × Multiplier) Middle Band (Basis): SMA Lower Band: SMA - (Standard Deviation × Multiplier) How Bollinger Bands Work: Volatility Measure: Bollinger Bands measure the volatility of the market. When the bands are wide, it indicates high volatility, and when the bands are narrow, it indicates low volatility. Price Movement: The price tends to revert to the mean (middle band) after touching the upper or lower bands. Support and Resistance: The upper and lower bands can act as dynamic support and resistance levels. Key Features of Bollinger Bands: Volatility Indicator: Bollinger Bands help traders understand the volatility of the market. Mean Reversion: Prices tend to revert to the mean (middle band) after touching the bands. Squeeze: A Bollinger Band Squeeze occurs when the bands narrow significantly, indicating low volatility and a potential breakout. Combining RSI and Bollinger Bands Strategy Overview: The strategy aims to identify potential long signals by combining RSI and Bollinger Bands across multiple timeframes. The key conditions are: RSI Crossing Above 60: The RSI should cross above 60 on the 15-minute timeframe. RSI Above 60 on Higher Timeframes: The RSI should already be above 60 on the hourly and daily timeframes. Price Above 20MA or Walking on Upper Bollinger Band: The price should be above the 20-period moving average of the Bollinger Bands or walking on the upper Bollinger Band. Strategy Details: RSI Calculation: Calculate the RSI for the 15-minute, 1-hour, and 1-day timeframes. Check if the RSI crosses above 60 on the 15-minute timeframe. Ensure the RSI is above 60 on the 1-hour and 1-day timeframes. Bollinger Bands Calculation: Calculate the Bollinger Bands using a 20-period moving average and 2 standard deviations. Check if the price is above the 20-period moving average or walking on the upper Bollinger Band. Entry and Exit Signals: Long Signal: When all the above conditions are met, consider a long entry. Exit: Exit the trade when the price crosses below the 20-period moving average or the stop-loss is hit. Example Usage Setup: Add the indicator to your TradingView chart. Configure the inputs as per your requirements. Monitoring: Look for the long signal on the chart. Ensure that the RSI is above 60 on the 15-minute, 1-hour, and 1-day timeframes. Check that the price is above the 20-period moving average or walking on the upper Bollinger Band. Trading: Enter a long position when the criteria are met. Set a stop-loss below the low of the recent 15-minute candle or based on your risk management rules. Monitor the trade and exit when the RSI returns below 60 on any of the timeframes or when the price crosses below the 20-period moving average. House Rules Compliance No Financial Advice: This strategy is for educational purposes only and should not be construed as financial advice. Risk Management: Always use proper risk management techniques, including stop-loss orders and position sizing. Past Performance: Past performance is not indicative of future results. Always conduct your own research and analysis. TradingView Guidelines: Ensure that any shared scripts or strategies comply with TradingView's terms of service and community guidelines. Conclusion This strategy combines RSI and Bollinger Bands across multiple timeframes to identify potential long signals. By ensuring that the RSI is above 60 on higher timeframes and that the price is above the 20-period moving average or walking on the upper Bollinger Band, traders can make more informed decisions. Always remember to conduct thorough research and use proper risk management techniques.
Pine Script™ indicator
by deepakks444
3
3 EMA + RSI with Trail Stop [Free990] (LOW TF)This trading strategy combines three Exponential Moving Averages (EMAs) to identify trend direction, uses RSI to signal exit conditions, and applies both a fixed percentage stop-loss and a trailing stop for risk management. It aims to capture momentum when the faster EMAs cross the slower EMA, then uses RSI thresholds, time-based exits, and stops to close trades. Short Explanation of the Logic Trend Detection: When the 10 EMA crosses above the 20 EMA and both are above the 100 EMA (and the current price bar closes higher), it triggers a long entry signal. The reverse happens for a short (the 10 EMA crosses below the 20 EMA and both are below the 100 EMA). RSI Exit: RSI crossing above a set threshold closes long trades; crossing below another threshold closes short trades. Time-Based Exit: If a trade is in profit after a set number of bars, the strategy closes it. Stop-Loss & Trailing Stop: A fixed stop-loss based on a percentage from the entry price guards against large drawdowns. A trailing stop dynamically tightens as the trade moves in favor, locking in potential gains. Detailed Explanation of the Strategy Logic Exponential Moving Average (EMA) Setup Short EMA (out_a, length=10) Medium EMA (out_b, length=20) Long EMA (out_c, length=100) The code calculates three separate EMAs to gauge short-term, medium-term, and longer-term trend behavior. By comparing their relative positions, the strategy infers whether the market is bullish (EMAs stacked positively) or bearish (EMAs stacked negatively). Entry Conditions Long Entry (entryLong): Occurs when: The short EMA (10) crosses above the medium EMA (20). Both EMAs (short and medium) are above the long EMA (100). The current bar closes higher than it opened (close > open). This suggests that momentum is shifting to the upside (short-term EMAs crossing up and price action turning bullish). If there’s an existing short position, it’s closed first before opening a new long. Short Entry (entryShort): Occurs when: The short EMA (10) crosses below the medium EMA (20). Both EMAs (short and medium) are below the long EMA (100). The current bar closes lower than it opened (close < open). This indicates a potential shift to the downside. If there’s an existing long position, that gets closed first before opening a new short. Exit Signals RSI-Based Exits: For long trades: When RSI exceeds a specified threshold (e.g., 70 by default), it triggers a long exit. RSI > short_rsi generally means overbought conditions, so the strategy exits to lock in profits or avoid a pullback. For short trades: When RSI dips below a specified threshold (e.g., 30 by default), it triggers a short exit. RSI < long_rsi indicates oversold conditions, so the strategy closes the short to avoid a bounce. Time-Based Exit: If the trade has been open for xBars bars (configurable, e.g., 24 bars) and the trade is in profit (current price above entry for a long, or current price below entry for a short), the strategy closes the position. This helps lock in gains if the move takes too long or momentum stalls. Stop-Loss Management Fixed Stop-Loss (% Based): Each trade has a fixed stop-loss calculated as a percentage from the average entry price. For long positions, the stop-loss is set below the entry price by a user-defined percentage (fixStopLossPerc). For short positions, the stop-loss is set above the entry price by the same percentage. This mechanism prevents catastrophic losses if the market moves strongly against the position. Trailing Stop: The strategy also sets a trail stop using trail_points (the distance in price points) and trail_offset (how quickly the stop “catches up” to price). As the market moves in favor of the trade, the trailing stop gradually tightens, allowing profits to run while still capping potential drawdowns if the price reverses. Order Execution Flow When the conditions for a new position (long or short) are triggered, the strategy first checks if there’s an opposite position open. If there is, it closes that position before opening the new one (prevents going “both long and short” simultaneously). RSI-based and time-based exits are checked on each bar. If triggered, the position is closed. If the position remains open, the fixed stop-loss and trailing stop remain in effect until the position is exited. Why This Combination Works Multiple EMA Cross: Combining 10, 20, and 100 EMAs balances short-term momentum detection with a longer-term trend filter. This reduces false signals that can occur if you only look at a single crossover without considering the broader trend. RSI Exits: RSI provides a momentum oscillator view—helpful for detecting overbought/oversold conditions, acting as an extra confirmation to exit. Time-Based Exit: Prevents “lingering trades.” If the position is in profit but failing to advance further, it takes profit rather than risking a trend reversal. Fixed & Trailing Stop-Loss: The fixed stop-loss is your safety net to cap worst-case losses. The trailing stop allows the strategy to lock in gains by following the trade as it moves favorably, thus maximizing profit potential while keeping risk in check. Overall, this approach tries to capture momentum from EMA crossovers, protect profits with trailing stops, and limit risk through both a fixed percentage stop-loss and exit signals from RSI/time-based logic.
Pine Script™ strategy
by Free990
12
DemaRSI StrategyThis is a repost to a old script that cant be updated anymore, the request was made on Feb, 27, 2016. Here's a engaging description for the tradingview script: **DemaRSI Strategy: A Proven Trading System** Join thousands of traders who have already experienced the power of this highly effective strategy. The DemaRSI system combines two powerful indicators - DEMA (Double Exponential Moving Average) and RSI (Relative Strength Index) - to generate profitable trades with minimal risk. **Key Features:** * **Trend-Following**: Our algorithm identifies strong trends using a combination of DEMA and RSI, allowing you to ride the waves of market momentum. * **Risk Management**: The system includes built-in stop-loss and take-profit levels, ensuring that your gains are protected and losses are minimized. * **Session-Based Trading**: Trade during specific sessions only (e.g., London or New York) for even more targeted results. * **Customizable Settings**: Adjust the length of moving averages, RSI periods, and other parameters to suit your trading style. **What You'll Get:** * A comprehensive strategy that can be used with any broker or platform * Easy-to-use interface with customizable settings * Real-time performance metrics and backtesting capabilities **Start Trading Like a Pro Today!** This script is designed for intermediate to advanced traders who want to take their trading game to the next level. With its robust risk management features, this strategy can help you achieve consistent profits in various market conditions. **Disclaimer:** This script is not intended as investment advice and should be used at your own discretion. Trading carries inherent risks, and losses are possible. ~Llama3
Pine Script™ strategy
by RicardoSantos
RSI BandsOverview The RSI Bands indicator is a tool designed to calculate and display overbought, oversold, and middle bands based on the Relative Strength Index (RSI). Its primary purpose is to provide traders with a clue on whether to place limit buy or limit sell orders, or to set stop-loss orders effectively. The bands represent the price levels the asset must reach for the RSI to align with specific thresholds: Overbought Band: Displays the upper band representing the price level the asset must reach for the RSI to become overbought. Oversold Band: Displays the lower band representing the price level the asset must reach for the RSI to become oversold. Middle Band: Displays the middle band representing the price level the asset must reach for the RSI to hit the middle level. It uses both traditional RSI calculations and a dynamic period adjustment mechanism for improved adaptability to market conditions. The script also offers smoothing options for the bands. Features Calculates overbought, oversold, and middle bands using RSI values. Dynamically adjusts the RSI period based on pivot points if enabled. Offers smoothing options for the bands: EMA, SMA, or None. Customizable input parameters for flexibility. Inputs Source Value: Selects the data source (e.g., close price) for RSI calculation. Period: Sets the static RSI calculation period. Used if dynamic period is disabled. Use Dynamic Period?: Toggles the use of a dynamic RSI period. Pivot Left/Right Length: Determines the range of bars for pivot detection when using dynamic periods. Dynamic Period Multiplier: Scales the dynamically calculated RSI period. Overbought Level: RSI level that marks the overbought threshold. Oversold Level: RSI level that marks the oversold threshold. Middle Level: RSI level used as a midpoint reference. Smoothing Type: Specifies the smoothing method for the bands (EMA, SMA, or None). Smoothing Length: Length used for the selected smoothing method. Key Calculations RSI Calculation: Computes RSI using gains and losses over the specified period (dynamic or static). Incorporates a custom function for calculating RSI with dynamic periods. Dynamic Period Adjustment: Uses pivot points to determine an adaptive RSI period. Multiplies the base dynamic period by the Dynamic Period Multiplier. Band Calculation: Calculates price changes (deltas) required to achieve the overbought, oversold, and middle RSI levels. The price changes (deltas) are determined using an iterative approximation technique. For each target RSI level (overbought, oversold, or middle), the script estimates the required change in price by adjusting a hypothetical delta value until the calculated RSI aligns with the target RSI. This approximation ensures precise calculation of the price levels necessary for the RSI to reach the specified thresholds. Computes the upper (overbought), lower (oversold), and middle bands by adding these deltas to the source price. Smoothing: Applies the selected smoothing method (EMA or SMA) to the calculated bands. Plots Overbought Band: Displays the upper band representing the price level the asset must reach for the RSI to become overbought. Oversold Band: Displays the lower band representing the price level the asset must reach for the RSI to become oversold. Middle Band: Displays the middle band representing the price level the asset must reach for the RSI to hit the middle level. Usage Choose the source value (e.g., close price). Select whether to use a dynamic RSI period or a static one. Adjust pivot lengths and multipliers for dynamic period calculation as needed. Set the overbought, oversold, and middle RSI levels based on your analysis. Configure smoothing options for the bands. Observe the plotted bands and use them to identify potential overbought and oversold market conditions.
Pine Script™ indicator
by CrimsonVault