Spyfrat RSI Strategy by senpai

Spyfrat RSI 50 Strategy Pinescript

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.

Want to use this script on a chart?

//Based on Larry Connors RSI-2 Strategy - Lower RSI
strategy(title="Spyfrat RSI Strategy", shorttitle="SpyfratRSI", overlay=false)
src = close, 

//RSI CODE
up = rma(max(change(src), 0), 30)
down = rma(-min(change(src), 0), 30)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))

//Rule for RSI Color
col = rsi > 50?lime: rsi < 60?red : silver

plot(rsi, title="RSI", style=line, linewidth=2,color=col)
//plot(100, title="Upper Line 100",style=line, linewidth=3, color=aqua)
//plot(0, title="Lower Line 0",style=line, linewidth=3, color=aqua)

band1 = plot(70, title="Upper Line 70",style=line, linewidth=1, color=aqua)
band0 = plot(30, title="Lower Line 30",style=line, linewidth=1, color=aqua)
band2 = plot(50, title="Upper Line 50",style=line, linewidth=1, color=green)
fill(band1, band0, color=gray, transp=80)

//plot(long,"long",color=green,linewidth=1)
//plot(short,"short",color=red,linewidth=1)