fikira

RSI adjusted SuperTrend

This script is a variation on the SuperTrend.
The original function is from Tradingview, the difference is that I added a calculation with RSI

First 50 is subtracted from the RSI.
The absolute value of this number is on its turn divided with 100 or 50 (settings: 'Divide RSI value by')
-> this gives the 'aRSI', which is similar to a percentage

Finally a last calculation is made:
- lower * 'aRSI' is subtracted from the lower band
- upper * 'aRSI' is added to the upper band

If you want to see the Regular ST -> Toggle 'Show Regular ST'

Settings:

- factor (for both SuperTrends)
- ATR length (for SuperTrends)
- RSI length (for 'RSI adjusted SuperTrend')

Cheers!



LuxAlgo Dev: www.luxalgo.com
PineCoder: www.pinecoders.com

- We cannot control our emotions,
but we can control our keyboard -
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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