Bogdan Ciocoiu - Coordinator

BogdanCiocoiu Updated   
The Coordinator is an indicator developed on the back of the RSI algorithm, modified substantially to form a cloud. In addition, the Coordinator uses EMA/SMA to compare the location of the RSI cloud with the chosen moving averages (EMA vs SMA).

This indicator is helpful as it confirms when a trader should enter a position or exit based on the proximity of the RSI cloud to the relevant MA.

The Coordinator provides unique benefits, including:
  • It shows the strength of the RSI in the shape of the RSI cloud, using two sets of dimensions (one more long term and one more short-term oriented).
  • It indicates the positioning of the RSI cloud in conjunction with the relevant moving averages to help traders remain in positions for longer.
  • It shows the RSI 14 (useful when spotting divergences aligned with the price action).

The Coordinator uses the following open-source scripts:
Release Notes:
This revision corrects a bug revealed by David, one of our members. The bug was related to the printing of circles/triangles.
Release Notes:
Removed the individual RSI as the interface became too congested.
Release Notes:
The default variables have been changed to support new joiners.
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.


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