RSIH‴ is a Relative Strength Index oscillator that allows you to have a better understanding and interpretation of its behavior once you are able to see it through an histrogram.
As per the standard RSI, RSIH ‴ has extreme zones such as overbought and oversold, but these zones start, respectively, from 20% (similar to 80% on RSI) and from -20% (similar to 20% on RSI), with a mid line at 0% (similar to 50% on RSI).
What is the best is that you can use it with any kind of graphic that it will always considere the real open, close, high and low trading values.
To have access to this indicator, please contact me at: contato @ moneywise . com . br
Believe me, this indicator will make your life much easier!
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under validation
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One simple improvement: - arrow showing the RSI direction - right side bar showing the positive/negative direction for the indicator (line and histogram)
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Just wrote a better indicator description.
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Just minor adjustment to the INPUT panel.
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Just more minor adjustment to the INPUT panel.
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Pair of Histogram Expand/Contract Arrow Sign implemented to the right of the indicator (top and bottom).
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Added Histogram Expantion/Contration Arrow Sign.
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New ability to set the timeframe the indicator will present eventhough in a different timeframe window.
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Some few increments: 1. Code version converted to @5 ; 2. Added a strategic reversal line, which helps antecipate the RSI signal.