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azathatamow

RSI Local Trend

azathatamow Updated   
Relative Strength Index (RSI) Pivot points and levels Pivot Points rsi2
171
5
relativestrengthindex pivotpointsandlevels pivotpoints rsi2
A simple indicator using two RSIs.

Conditions for buy:
RSI(slow) < RSI(fast) and RSI(slow) < long_trigger

Conditions for sell:
RSI(slow) > RSI(fast) and RSI(slow) > short_trigger

It is recommended to use in small timeframes for scalping.

Recommended settings:
slow = 3
fast = 14
long_trigger = 30
short_trigger = 70

In markets where there is very high volatility, it is recommended to change the trigger parameters:
long_trigger = 20
short_trigger = 80
Release Notes:
Added Alerts
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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