Relative Strength Index is a common technical analysis tool, it is classified as a momentum oscillator, measuring the velocity and magnitude of directional price movements. it is most typically used on a 14-period timeframe, measured on a scale from 0 to 100, with high and low levels marked at 70 and 30.
after simple improvement and addition of logical judgment, it becomes a passive judge from subjective judgments, avoid the shortcomings of peoples in watching passivation, and the trade can be more consistent.
RSI period 1 - default is 14, same as general RSI.
RSI period 2 - default is 5, due to its own formula, the amplitude of the oscillator will become larger and more agile or fast. When the parameter is small.
exponential moving avg of RSI - using the result of RSI period 1 as the source of Ema's formula, the default length is 14, which can filter the excessive agility of RSI period 2 to reduce noise, and compared to using the baseline as the criterion for long and short judgments, The characteristics of exponential moving avg are more suitable to become flexible filtering standards.
Overbought - default is 70, you can set your overbought level.
Oversold - same as above, the default is 30.
2) Options
Open Candle color(開啟蠟燭線趨勢) - choose whether to start the color of the candle.
Open background color(開啟指標背景色) - the default is false, you can turn on.
ver.2- adjust new style design and create two options. 修改2: 調整新的樣式設計與建立兩個選項。
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ver.3- Create alert condition. maybe I should refer to the Alert Creation Framework, there is also room for improvement. 修改3: 建立快訊選項。我應該參考警報創建框架,還有進步空間。
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Indicator Style - 指標樣式
The design uses casual light color style, light gray between overbought and oversold.
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Market Example - 市場範例
1. Bitcoin/Tether, Binance, 1 day
2. Bitcoin/USD, Coinbase, 4 hour
3. EUR/USD, Forex Market, 4 hour
4. GBP/USD, Forex Market, 30 min
5. TAIEX, Taiwan SE Weighted Index, 1 week
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postscript - 後記感想
The purpose of publishing Chinese Scripts is to make Pine close to more Chinese user. I hope English skills enhancement...staggered writing makes me feel hard. 發布中文腳本的目的,是希望可以讓 Pine 親近更多中文圈的使用者。希望我的英語進步,中英文交錯撰寫有一些困難。
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If you find my works useful, you can give me encouragement. I can buy more books to sophisticated themselves. 如果您發現我的作品有用,可以給我鼓勵。讓我可以買更多書籍來精進自己。