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jans007

Rainbow Ribonacci RSI

jans007 Updated   
Relative Strength Index (RSI)
118
2
relativestrengthindex
Rainbow Ribonacci RSI is a modified version of RSI with Rainbow Ribbon of Fibonacci period and levels:
  • RSI lines modified to consists of several Fibonnaci Period Length of 3, 5, 8, 13;
  • RSI levels modified to contain the Fibonacci Percentage Levels of 78.6%, 61.8%, 50%, 38.2% and 23.6%;
  • Color fills between RSI lines;
  • Color fills between RSI levels.

The choice of colors: red-orange-yellow-green-blue-purple are in the order of rainbow colors.

Rainbow Ribonacci: Rainbow Ribbon with Fibonacci
Release Notes:
added input setting and transparency set
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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