OPEN-SOURCE SCRIPT
Updated Pierce Strength Index
This is a combination of RSI, Elliot Wave Trend, and SqzMomentum that helps to predict the likelihood of short term buy and sell opportunities and local maxima.
Changing color of the line in addition to when the line exceeds or crosses under the threshold lines can act as potential buy/sell signals.
Changing color of the line in addition to when the line exceeds or crosses under the threshold lines can act as potential buy/sell signals.
Release Notes
Updated normalization factorsOpen-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.