PROTECTED SOURCE SCRIPT
XRSI-Momentum Index
The XRSI Momentum Index is an enhanced, presentation‑ready implementation of the classic Relative Strength Index (RSI) for TradingView.
It retains the mathematical simplicity of J. Welles Wilder’s RSI while adding a modern visual layer and alert framework that makes momentum assessment faster and less error‑prone on intraday as well as swing charts.
Interpretation Guide
Momentum confirmation
RSI above the Neutral (50) → bullish bias; below → bearish bias.
Noise filters
When RSI oscillates only between OB Noise & OS Noise, ignore whipsaw and stay flat or trend‑follow with reduced size.
Reversal scout
A full cross into the OB or OS band (beyond the noise area) followed by a cross back into the Noise band signals early exhaustion.
EMA overlay
• RSI > EMA RSI → momentum acceleration.
• RSI < EMA RSI → momentum cooling.
Combine with price structure (higher‑highs / lower‑lows) for divergence detection.
Quick‑Start
Add to Chart
Indicators → Invite‑only scripts → XRSI Momentum Index (or paste the source into Pine editor).
Tune Zones
For volatile pairs (e.g., GBPJPY), widen OB/OS to 80 / 20.
For range‑bound assets (e.g., EURCHF), tighten to 60 / 40.
Set Alerts
Right‑click indicator → Add alert → choose condition (e.g., “Entry Into Oversold Area”) → route to webhook or app.
Optional EMA Strategy
Overlay price 50/200 EMA on chart; trade only when XRSI and price trend agree.
It retains the mathematical simplicity of J. Welles Wilder’s RSI while adding a modern visual layer and alert framework that makes momentum assessment faster and less error‑prone on intraday as well as swing charts.
Interpretation Guide
Momentum confirmation
RSI above the Neutral (50) → bullish bias; below → bearish bias.
Noise filters
When RSI oscillates only between OB Noise & OS Noise, ignore whipsaw and stay flat or trend‑follow with reduced size.
Reversal scout
A full cross into the OB or OS band (beyond the noise area) followed by a cross back into the Noise band signals early exhaustion.
EMA overlay
• RSI > EMA RSI → momentum acceleration.
• RSI < EMA RSI → momentum cooling.
Combine with price structure (higher‑highs / lower‑lows) for divergence detection.
Quick‑Start
Add to Chart
Indicators → Invite‑only scripts → XRSI Momentum Index (or paste the source into Pine editor).
Tune Zones
For volatile pairs (e.g., GBPJPY), widen OB/OS to 80 / 20.
For range‑bound assets (e.g., EURCHF), tighten to 60 / 40.
Set Alerts
Right‑click indicator → Add alert → choose condition (e.g., “Entry Into Oversold Area”) → route to webhook or app.
Optional EMA Strategy
Overlay price 50/200 EMA on chart; trade only when XRSI and price trend agree.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.