OPEN-SOURCE SCRIPT
RSI + Stoch/RSI
This is a combination of 2 of the most used indicators. RSI and stochastic/RSI
Ive coded them both to work together to save space on your chart and work as only ONE indicator.
I specifically only use the D line with my rsi , but you have the option to use the K and D line if you so choose.
RSI is good for momentum
Stochastic is good for short term momentum.
They work very well together and if you are a swing trader or scalper they can help immensely when looking for sniper entry areas after you've done you're initial pattern, level, fibonacci and wave analysis.
I like the way this works and have been using these two indicators for a while so I figured I would share.
Happy new year everyone, God bless!
Ive coded them both to work together to save space on your chart and work as only ONE indicator.
I specifically only use the D line with my rsi , but you have the option to use the K and D line if you so choose.
RSI is good for momentum
Stochastic is good for short term momentum.
They work very well together and if you are a swing trader or scalper they can help immensely when looking for sniper entry areas after you've done you're initial pattern, level, fibonacci and wave analysis.
I like the way this works and have been using these two indicators for a while so I figured I would share.
Happy new year everyone, God bless!
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 publication is governed by House rules. You can favorite it to use it on a chart.
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