OPEN-SOURCE SCRIPT
Naked Nation Relative Strength Index
Full Credit to Bare Naked Crypto for years of research and work on key RSI support/rejection levels for most cryptocurrencies.
Key RSI support/rejections points:
< 36 RSI - Oversold areas (green)
46 RSI (blue)
56 RSI (orange)
65 RSI (red)
>65 RSI - Overbought area
Heavily oversold/overbought ranges will be indicated with highlighted areas similar to traditional RSI indicator.
Note: divergences and trends are easy to spot with RSI key area touches.
For more information on NakedRSI, watch How to NakedRSI at youtube.com/watch?v=Bj8tpCSfjdI&t=3s.
_____
RSI is momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially RSI, when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements. ( via Tradingview.com)
Key RSI support/rejections points:
< 36 RSI - Oversold areas (green)
46 RSI (blue)
56 RSI (orange)
65 RSI (red)
>65 RSI - Overbought area
Heavily oversold/overbought ranges will be indicated with highlighted areas similar to traditional RSI indicator.
Note: divergences and trends are easy to spot with RSI key area touches.
For more information on NakedRSI, watch How to NakedRSI at youtube.com/watch?v=Bj8tpCSfjdI&t=3s.
_____
RSI is momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially RSI, when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements. ( via Tradingview.com)
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.
Want to use this script on a chart?
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.