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Trend Sniper RSI | JeffreyTimmermans
Updated
The Trend Sniper RSI is an advanced tool designed to help investors track momentum trends in the market.
By combining the Relative Strength Index (RSI) with adjustable momentum thresholds, this indicator aids in spotting potential bullish or bearish market signals.
Investors have the flexibility to modify settings such as the RSI period, positive and negative momentum levels, and visual display options, ensuring the tool aligns with their specific strategies.
The indicator works by calculating the RSI and analyzing two distinct momentum conditions: positive and negative.
For the positive condition, it evaluates the current RSI value, the previous RSI reading, and the upward change in the 5-period exponential moving average (EMA) of the closing price.
The negative condition, on the other hand, checks the current RSI value and the downward change in the 5-period EMA.
Once a momentum shift is detected, the Trend Sniper RSI visually marks the signal directly on the chart.
Offering a streamlined approach to identify momentum trends, Trend Sniper RSI empowers investors with actionable insights, helping them make more informed decisions with customizable settings and clear visual signals.
-Jeffrey
By combining the Relative Strength Index (RSI) with adjustable momentum thresholds, this indicator aids in spotting potential bullish or bearish market signals.
Investors have the flexibility to modify settings such as the RSI period, positive and negative momentum levels, and visual display options, ensuring the tool aligns with their specific strategies.
The indicator works by calculating the RSI and analyzing two distinct momentum conditions: positive and negative.
For the positive condition, it evaluates the current RSI value, the previous RSI reading, and the upward change in the 5-period exponential moving average (EMA) of the closing price.
The negative condition, on the other hand, checks the current RSI value and the downward change in the 5-period EMA.
Once a momentum shift is detected, the Trend Sniper RSI visually marks the signal directly on the chart.
Offering a streamlined approach to identify momentum trends, Trend Sniper RSI empowers investors with actionable insights, helping them make more informed decisions with customizable settings and clear visual signals.
-Jeffrey
Release Notes
Small changes in color and signal naming, bullish and bearish.Protected script
This script is published closed-source and you may privately use it freely.
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@JeffreyTimmermans
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