OPEN-SOURCE SCRIPT
CHARTIST WAQAR ADVANCE RSI 3 LAYER
This RSI provide support or resistance with buy sell signal :
█ PURPOSE
CHARTIST WAQAR ADVANCE RSI 3 LAYER Strategy Analyzer helps traders :
Identify mean-reversion opportunities through RSI extremes
Backtest entry strategy effectiveness across multiple time horizons
Optimize trade timing through visual historical performance data
Quickly assess strategy robustness with color-coded
█ KEY FEATURES
RSI Calculation
Calculates RSI with customizable period (default 14) and you can use 7 / 14 / 21 / 28 /35 ....
Plots dynamic overbought (80) and oversold (30) levels
Adds background coloring for
Trade Direction :
Users can select a trade bias:
Long: Focuses on oversold reversals (bullish signals)
Short: Focuses on overbought reversals (bearish signals)
█ PURPOSE
CHARTIST WAQAR ADVANCE RSI 3 LAYER Strategy Analyzer helps traders :
Identify mean-reversion opportunities through RSI extremes
Backtest entry strategy effectiveness across multiple time horizons
Optimize trade timing through visual historical performance data
Quickly assess strategy robustness with color-coded
█ KEY FEATURES
RSI Calculation
Calculates RSI with customizable period (default 14) and you can use 7 / 14 / 21 / 28 /35 ....
Plots dynamic overbought (80) and oversold (30) levels
Adds background coloring for
Trade Direction :
Users can select a trade bias:
Long: Focuses on oversold reversals (bullish signals)
Short: Focuses on overbought reversals (bearish signals)
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. You can favorite it to use it on a chart.
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