OPEN-SOURCE SCRIPT
Team Undergrounds Magic RSI Bands
What is this indicator?
This indicator shows RSI but visualize as bands with custom timeframe settings. Normal RSI doesn't really visualse well when the price gets overbought/oversold and generally because of candle closes it can be hard to determine if the price has already touched the prefered RSI level. The custom timeframe allows you to go to shorter or longer timeframes on the chart while maintaining the same timeframe on the RSI indicator.
How does it work?
Add this indicator to the chart, and you'll see 2 bands (green and red). By standard settings, the green band shows when price goes below 30 RSI and the red line when price goes above 70 on the RSI. By standard settings the RSI band is set to 7 hour because this tends to work well with Bitcoin and crypto in general, but the timeframe can be changed in the settings. 12hr, 3hr, 3D, 1W are all good timeframes based off personal preference. The overbought/oversold level and RSI length can also be adjusted.
Indicator is not a financial advice tool, and offcourse, data can always change. Past price does not predict future price by defintion.
This indicator shows RSI but visualize as bands with custom timeframe settings. Normal RSI doesn't really visualse well when the price gets overbought/oversold and generally because of candle closes it can be hard to determine if the price has already touched the prefered RSI level. The custom timeframe allows you to go to shorter or longer timeframes on the chart while maintaining the same timeframe on the RSI indicator.
How does it work?
Add this indicator to the chart, and you'll see 2 bands (green and red). By standard settings, the green band shows when price goes below 30 RSI and the red line when price goes above 70 on the RSI. By standard settings the RSI band is set to 7 hour because this tends to work well with Bitcoin and crypto in general, but the timeframe can be changed in the settings. 12hr, 3hr, 3D, 1W are all good timeframes based off personal preference. The overbought/oversold level and RSI length can also be adjusted.
Indicator is not a financial advice tool, and offcourse, data can always change. Past price does not predict future price by defintion.
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。
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。