OPEN-SOURCE SCRIPT
RSI with Market Filter
This is a normal Relative Strength Index with default length set to 14 periods
In addition, SET and MAI market Trend filter:
When SET or MAI is above 10 and 35 EMA - consider as a strong uptrend.
SET or MAI is below EMA 10 but still above EMA 35 - consider as a healthy Uptrend but resting with lower momentum.
SET or MAI is below EMA 10 and 35 - consider as a Downtrend. It is recommended not to trade in this market.
SET or MAI is above EMA 10 but below EMA 35 - consider as a starting point of the uptrend. It is recommended to start looking for a possible trade when the market flip into Uptrend.
In addition, SET and MAI market Trend filter:
When SET or MAI is above 10 and 35 EMA - consider as a strong uptrend.
SET or MAI is below EMA 10 but still above EMA 35 - consider as a healthy Uptrend but resting with lower momentum.
SET or MAI is below EMA 10 and 35 - consider as a Downtrend. It is recommended not to trade in this market.
SET or MAI is above EMA 10 but below EMA 35 - consider as a starting point of the uptrend. It is recommended to start looking for a possible trade when the market flip into Uptrend.
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