Relative Strength Index with Range Shift — Indicator by kevindcarr

This RSI implements the additional concept of "Range Shift" to accommodate speculative bias towards a Bullish, Strong Bullish, Bearish, or Strong Bearish outlook.

Select the range bias in the settings and get better color coded feedback from the indicator.

Release Notes:

Updated for pine version 5.

Added option to specify logarithmic or regular, defaults to logarithmic.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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