OPEN-SOURCE SCRIPT
Updated RSI median
A RSI implementation tailored for a specific use case.
Instead of using RSI with oversold and overbought values, I use it as a median value.
If the RSI is above 50, the trend is bullish.
If the RSI is below 50, the trend is bearish.
This indicator is customized to help you easily identify market strength/weakness based on which side of the median value the RSI is.
Instead of using RSI with oversold and overbought values, I use it as a median value.
If the RSI is above 50, the trend is bullish.
If the RSI is below 50, the trend is bearish.
This indicator is customized to help you easily identify market strength/weakness based on which side of the median value the RSI is.
Release Notes
Upgrade to pinescript 5Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.