A pull-back occurs whenever the price or the value of an indicator breaks a line and comes back to test it before continuing in the prevailing trend.
The RSI has oversold and overbought levels such as 20 and 80 and whenever the market breaks them returns to normality, we can await a pull-back to them before the reversal continues.
This indicator shows the...
One of the ways I go when I develop strategies is by reducing the number of parameters and removing fixed parameters and levels.
In this strategy, I'm trying to create an RSI indicator with a dynamic length.
Length is computed based on the correlation between Price and its momentum.
You can set min and max values for the RSI, and if the correlation is close to 1,...
As always, this is not financial advice and use at your own risk. Trading is risky and can cost you significant sums of money if you are not careful. Make sure you always have a proper entry and exit plan that includes defining your risk before you enter a trade.
This idea recently came out of some discussions I stumbled across in a trading group I am a part of...
The relative strength index is a momentum indicator used in technical analysis. It measures the speed and magnitude of a coin's recent price changes to evaluate overvalued or undervalued conditions in the price of that coin. The RSI is displayed as an oscillator (a line graph essentially) on a scale of zero to 100. When the RSI reaches oversold levels, it can...
This Script is designed to show relative strength or relative weakness. It takes the stock your looking at and compares it to the sector it is in and to SPY. It evaluates strength or weakness on every candle. In this specific script it is only designed for the communications sector(XLC), so all the names I have inputted into the script fall...
As you probably know in TradingView there is a limit of 40 instruments in one custom screener.
I created a script that will allow you to scan more symbols.
The idea of it is pretty simple. You have to add a screener a few times on your screen with a different set of symbols. Then select column width (as % of your chart width) and # of the screener right to left....
What is the "Heiken Ashi Algo Oscillator"
It is an indicator that measures volume and momentum.
It plots and RSI as Heiken Ashi candles.
It includes seven different types of moving averages against the relative strength index.
Each one of these moving averages calculates faster than the previous, starting from the SMA to the LSMA.
It includes a hidden vwap as...
It's a pretty simple example of a nice custom screener you can run for multiple timeframes. This is an RSI screener, but you can easily change the function for your own Indicator.
Last value of the instrument
RSI value for up to 10 instruments / 4 timeframes.
In Parameters you can change:
This script is meant to give you a Relative Strength indication of the stock. The goal is to use a similar calculation as used by IBD.
It calculates the performance of the current stock for the last year (most recent quarter is weighted double) and compares it to the performance of a reference index or ticker (default is "SPY").
IBD would give you a value between...
The RSI is a contrarian indicator bounded between 0 and 100 where values close to the area of 30 represent an oversold condition and values close to the area of 70 represent an overbought condition.
Generally, we use the area of 70/75 and the area of 30/25 as extremes that signal a market reversal or a correction. But what if we calculate a simple way to make...
This implementation of the RS Line mimics how Investor's Business Daily and CANSLIM investors measure growth stock performance versus the S&P 500.
If you are looking at a weekly chart, the RS Line is the performance of the stock over the past week versus the S&P 500 over that same time frame. The same logic applies to the daily and monthly charts,...
This RSI indicator shows a green or red ribbon when the smoothed RSI is bullish or bearish. It also includes a long moving average for overall trend confirmation. Wait until the ribbon holds above or below the long moving average and take positions in that direction.
To get an easier to read RSI indicator, I smoothed the RSI out and paired it next to a short term...
Use this indicator to compare how security is performing in compare with preferred index (SPX by default).
> 0 outperforming
< 0 underperforming
Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes
Apply it to SPX, industry index, sector index or other security in similar sector
Overlay a small plot of a correlated asset of your choosing. Shrink/expand, Set vertical and horizontal position, plot multiple mini-plots via duplicate indicators with varied settings.
Plots the last X bars of any asset; including the live candle currently painting
Useful for low time frame trading when you want to see correlated asset price movement right...
TASC's March 2022 edition of Traders' Tips includes the "Relative Strength Moving Averages - Part 3: The Relative Strength Volatility-Adjusted Exponential Moving Average" article authored by Vitali Apirine. This is the code that implements the "RS VolatAdj EMA" from the article.
In a three-part article series, Vitaly Apirine...
This indicator was originally made to help users following along with one of our strategies that we call The Outback (hence the name).
One of the component indicators of that strategy is an RSI with a Hull Moving Average added on top of the RSI as an additional reference for the momentum of the RSI. Many people either had difficulty setting this up correctly,...
What is "RSI Divergence"?
"RSI Divergence" is a indicator that find RSI divergence automatically.
What it does?
When it finds an RSI divergence, it draws a line on the indicator.
How it does it?
The lines are found using the least squares method. If the signs of the linear regression on the graph and the linear regression plotted on the RSI are different, this...