BalintDavid

RSI Swing Indicator v2

The 2nd version of this indicator came quick :)

As the previous one, it draws swings on the candlesticks , based on price action and RSI .

Also in the labels you can see if the current swing is higher or lower to the previous one.

HH stands for Higher High
LL stands for Lower Low

LH means Lower High
HL means Higher low

THIS IS NOT A STRATEGY, this is for TREND analysis.

Please stop asking if it "redraws", because it doesn't matter.

The labels are not SELL or BUY signals
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Comments

is this accurate indicator ?
+25 Reply
zimson raymundsumampong1989
@raymundsumampong1989, Well if its a higher high or lower low and it labels it correctly then for sure its accurate. However its not a strategy. It wont work as strategy it just looks if one peak is higher than thew other (and some other stuff). Your eyes can do that to for the most part.
Because as soon as its higher than thew other it say HH and if you decide to short it then it can still go way higher and then you are f..ed
+11 Reply
kjzsbtby raymundsumampong1989
@raymundsumampong1989, As Zimson said, is accurate. But is not a trigger indicator, it is just used for analysis. Tho, but I see a Lott of potential if it's attached to a screener, it would be damn good to see on a screener RSI-51 HH or LL. It would make easier the multi-analysis of many trends that one misses just because one became lazy
Reply
can you add alerts? awesome job!
+14 Reply
Please add alert Conditions,Thank You
+7 Reply
ou yep may bad ,in the v1 i lowered the oversold to 25 ...

if the main purpose of this indicator to identify trend, did you thought to implement any strategy into or it should stay as an observation tool ?
+5 Reply
Hello , thank you for sharing it , what is the main difference in the calculation because i put both on chart, for example on 4 HTF, they some time diverge ( sorry for not fluent English)
+5 Reply
BalintDavid justclueless123
@justclueless123, There is no difference in the swing calculation, the V2 now marks market structure with LH HH LL HL
+3 Reply
You say they aren't buy/sell signals but they basically are!
+4 Reply
Thanks.
+2 Reply
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