PROTECTED SOURCE SCRIPT
[N]RSIOMA
RSIOMA is the abbreviation for Relative Strength index (RSI) of moving averages (MA).
Rules:
RSI above MA and RSI above level 50 is a signal of a bullish trend. RSI below MA and RSI below level 50 is a signal of a bearish trend.
One can also buy when the RSI breaks level 20 from below and sell when RSI breaks level 80 from above
Tip 1: Look out for bounces. When RSI line bounces off from MA line it means the trend will likely continue;
Tip 2: Look out for support / resistance of RSI LINE.
Tip 3: USE as follow = higher timeframe to lower timeframe
Rules:
RSI above MA and RSI above level 50 is a signal of a bullish trend. RSI below MA and RSI below level 50 is a signal of a bearish trend.
One can also buy when the RSI breaks level 20 from below and sell when RSI breaks level 80 from above
Tip 1: Look out for bounces. When RSI line bounces off from MA line it means the trend will likely continue;
Tip 2: Look out for support / resistance of RSI LINE.
Tip 3: USE as follow = higher timeframe to lower timeframe
Protected script
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