strategy of RSI with trendlines and S/R

Before I go through this chart I want to acknowledge the great programmers who spent much of their time and effort to assist many TV users and traders.

Thank you to LunaOwl for the RSI American lines her script made me realize the need to have trendlines , supports, and resistance on RSI charts.
Also, a copy of Lij_MC code from was taken which had been credited to Duyck. Thank you Duyck.
The BB was copied from morpheus747
As I researched different strategies one strategy seemed to assist the trader for entry and exits. It was the combination of Support and resistance on the RSI . In addition, diagonal lines (Recently introduced in pine script V4) assists in the direction and reversals that may occur. What is supplied is only a graphical representation and no trade entry or exit points are selected.

On the chart you can use;
RSI line or bar;
Bollinger High / Low support line;
• Diagonal trend lines . A primary and a secondary group of trendlines ; and
Trendline candle highlighter.

I am hoping people with great skills could assist to develop this to the next level.
I hope this graphical strategy may help until further development. Enjoy.

从收藏脚本中删除 添加到收藏脚本


Man you don’t know what you’ve created! You can make someone seriously rich with this! By first impression i think this is awesome awesome script, would hope to get alerts added soon and also more precision (early trendline plots etc.) thank you for helping out the trading community, you are a hero!
+1 回复
@cxd222, Thanks alot. Really appreciated it.
I checked the best strategies and this came out one of the best, as far as I am concerned :)
I'm hoping someone could assist in the alerts on the trendlines. The rest is easy.
Also, for early trendlines plots, just extend the trendlines out they are pretty close.
Enjoy :)
mrgr888n cxd222
@cxd222, I agree with U that it has some very good features coded in, but how do U entering the trade before trendlines are plotted?
mrgr888n cxd222
@cxd222, especially, I'm very interested in how to predict that moment when rsi candles are breaking trendlines (usually in the end of a trend)
cxd222 mrgr888n
@mrgr888n, just do some basic S/R analysis and you can predict where it can plot a trendline, if not there’s always a chance for 3rd entry upon rejecting or bouncing off the RSI trendline. In regards to breaking you have to watch price action for wicks to see if it’s a fakeout or not, if the candle is bullish or bearish engulfing it’s usually a good sign of a clean break etc.
@cxd222, A little trick. My previous indicator is also an rsi based indicator. If you combine both and some slight modifications you will get interesting entries.
cxd222 aaahopper
@aaahopper, cheers man, which previous indicator are we talking about?
@cxd222, I have just put something up simple but effective with the indicators I had mentioned. Check it out.
It may or might not suit you but I find them helpful in finding the highest and lowest points.
cxd222 aaahopper
@aaahopper, thanks again! Continue the great work, i will be following you closely!
Hey @aaahopper nice work here! I've been trying it manually but would love to automate so I can get alerts instead of checking all the time.

Just an idea... since you have the equation of the trend line (using 2 points), can you use that to calculate the projection/extension to the current bar using y=mx+c (where x is the distance away from the initial point and m = (Ay - By / Ax - Bx))? If it's a positive gradient (m) then check if RSI closes below it then alert a break of that up trend line. If it's a negative gradient (m) then check if RSI closes above it then alert a break of that down trend line.