OPEN-SOURCE SCRIPT
yon Price Above 200 EMA & RSI < 11
The indicator will highlight potential oversold bounce opportunities when price is in an uptrend (above 200 EMA) but temporarily oversold on the RSI-2.
Check on youtube for video that explains the mechanics of Larry Connors' 2-period RSI strategy and how it differs from traditional RSI use, which is essential for applying it to volatile instruments like 0DTE QQQ.
Check on youtube for video that explains the mechanics of Larry Connors' 2-period RSI strategy and how it differs from traditional RSI use, which is essential for applying it to volatile instruments like 0DTE QQQ.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.