INVITE-ONLY SCRIPT
Volume Weighted RSI [ChuckBanger]

This is volume weighted RSI (Relative Strength Index). In compressing to regular RSI it look like this: 
The relative strength index detect an overbought/sold market when higher/lower than a certain level, often 80/20. An overbought market is more attractive to sell because prices are no longer attractive to buy, it has reached its value of interest for traders looking to go long, we can then expect the price to correct and start a trend of opposite direction, while an oversold market is more attractive to buy based on the same logic.
The idea of talking about overbought and oversold without taking into account the volume can be a bit strange, since volume is directly related to the market traded, an higher volume can show sign of a more active market, which can describe the terms : overbought/sold a bit better. The money flow index for example, use volume, but it is interesting to provide other alternatives like this indicator.
With OB and OS signals

The relative strength index detect an overbought/sold market when higher/lower than a certain level, often 80/20. An overbought market is more attractive to sell because prices are no longer attractive to buy, it has reached its value of interest for traders looking to go long, we can then expect the price to correct and start a trend of opposite direction, while an oversold market is more attractive to buy based on the same logic.
The idea of talking about overbought and oversold without taking into account the volume can be a bit strange, since volume is directly related to the market traded, an higher volume can show sign of a more active market, which can describe the terms : overbought/sold a bit better. The money flow index for example, use volume, but it is interesting to provide other alternatives like this indicator.
With OB and OS signals
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作者的说明
Tip jar, if you want to support my indicators work
BTC: 3EV8QGKK689kToo1r8pZJXbWDqzyJQtHy6
LTC: LRAikFVtnqY2ScJUR2ETJSG4w9t8LcmSdh
BTC: 3EV8QGKK689kToo1r8pZJXbWDqzyJQtHy6
LTC: LRAikFVtnqY2ScJUR2ETJSG4w9t8LcmSdh
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。
仅限邀请脚本
只有经作者批准的用户才能访问此脚本。您需要申请并获得使用权限。该权限通常在付款后授予。如需了解更多详情,请按照以下作者的说明操作,或直接联系ChuckBanger。
除非您完全信任其作者并了解脚本的工作原理,否則TradingView不建议您付费或使用脚本。您还可以在我们的社区脚本中找到免费的开源替代方案。
作者的说明
Tip jar, if you want to support my indicators work
BTC: 3EV8QGKK689kToo1r8pZJXbWDqzyJQtHy6
LTC: LRAikFVtnqY2ScJUR2ETJSG4w9t8LcmSdh
BTC: 3EV8QGKK689kToo1r8pZJXbWDqzyJQtHy6
LTC: LRAikFVtnqY2ScJUR2ETJSG4w9t8LcmSdh
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。