OPEN-SOURCE SCRIPT
RSI Custom Levels
RSI Custom Levels is a "one stop shop" for a complete strategy based on RSI.
AS per principal: RSI oscillates between 0-100 and therefore the indicator is build around various parameters of RSI. It comprises of 4 different levels of RSI and therefore highlights the candles accordingly.
Understanding each LEVEL:
Level 1 (Highlight): Highlights candles that have an RSI value (closing basis) less than Level 1 specified value (default 20)
Level 2 (Highlight): Highlights candles that have an RSI value (closing basis) greater than Level 1 specified value (default 20) and less than Level 2 specified value (default 45)
Level 4 (Highlight): Highlights candles that have an RSI value (closing basis) greater than Level 4 specified value (default 80)
Level 3 (Highlight): Highlights candles that have an RSI value (closing basis) greater than Level 3 specified value (default 55) and less than Level 4 specified value (default 80)
The most efficient way to trade is as follows:
TRENDING SETUPS:
Uptrend Setups: When RSI enters Level 3 with exit at Level 4
Downtrend Setups: When RSI enters Level 2 with exit at Level 1
SIDEWAYS APPLICATION:
When RSI is in between Level 2 and 3 that area has no highlights as the system considers it to be FLAT and non oscillating.
OVERSTRETCHED APPLICATIONS:
Downtrend Reversal: When RSI enters Level 2 from Level 1 that is a sign for a downtrend reversal.
Uptrend Reversal: When RSI enters Level 3 from Level 2 that is a sign for a uptrend reversal.
Moreover the most ideal scenario is to convert the colour of all candles into white (in dark theme) or black(in light theme) for best performance.
AS per principal: RSI oscillates between 0-100 and therefore the indicator is build around various parameters of RSI. It comprises of 4 different levels of RSI and therefore highlights the candles accordingly.
Understanding each LEVEL:
Level 1 (Highlight): Highlights candles that have an RSI value (closing basis) less than Level 1 specified value (default 20)
Level 2 (Highlight): Highlights candles that have an RSI value (closing basis) greater than Level 1 specified value (default 20) and less than Level 2 specified value (default 45)
Level 4 (Highlight): Highlights candles that have an RSI value (closing basis) greater than Level 4 specified value (default 80)
Level 3 (Highlight): Highlights candles that have an RSI value (closing basis) greater than Level 3 specified value (default 55) and less than Level 4 specified value (default 80)
The most efficient way to trade is as follows:
TRENDING SETUPS:
Uptrend Setups: When RSI enters Level 3 with exit at Level 4
Downtrend Setups: When RSI enters Level 2 with exit at Level 1
SIDEWAYS APPLICATION:
When RSI is in between Level 2 and 3 that area has no highlights as the system considers it to be FLAT and non oscillating.
OVERSTRETCHED APPLICATIONS:
Downtrend Reversal: When RSI enters Level 2 from Level 1 that is a sign for a downtrend reversal.
Uptrend Reversal: When RSI enters Level 3 from Level 2 that is a sign for a uptrend reversal.
Moreover the most ideal scenario is to convert the colour of all candles into white (in dark theme) or black(in light theme) for best performance.
开源脚本
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这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。