Bullyena's RSI BarColor Overlay
This script can identify the price trend by overlaying colors as based on an algorithm using RSI and MA.
Disclaimer: This should be effective on higher timeframes.
This also works best with my RSI + StochRSI indicator.
Red = short zone
Orange = chop zone
Blue = long zone
Strategy:
Blue = you can HODL until the trend changes
Orange = good for scalping ranges
Red = just for shorting and longing would be risky
How to enable indicator with the best settings:
A. If using candlestick chart type, make sure to disable the border color in the chart settings.
B. For optimal usage, use the bar chart type.
Disclaimer: This should be effective on higher timeframes.
This also works best with my RSI + StochRSI indicator.
Red = short zone
Orange = chop zone
Blue = long zone
Strategy:
Blue = you can HODL until the trend changes
Orange = good for scalping ranges
Red = just for shorting and longing would be risky
How to enable indicator with the best settings:
A. If using candlestick chart type, make sure to disable the border color in the chart settings.
B. For optimal usage, use the bar chart type.
Release Notes:
Changelog:
Updated the colors
How to use:
1. Install the indicator by clicking on favorites and adding it on your chart.
2. Go to your chart settings/properties by clicking on the background of your chart. Then make sure to DISABLE 'BORDER' if using candlesticks.
3. There you have it
Updated the colors
How to use:
1. Install the indicator by clicking on favorites and adding it on your chart.
2. Go to your chart settings/properties by clicking on the background of your chart. Then make sure to DISABLE 'BORDER' if using candlesticks.
3. There you have it
Release Notes:
Minor fixes