Strength Index I2-SI

2023년 1월 21일

Idea:
Enhance the Stoch RSI with DMI to get the visualization of the strength movement.

Concept:
(Note that we take the close to get the closing price).
-Combination of 2 Stoch RSI (using value K): 1 is UP, 1 is DOWN (these settings have been customized).
-Every time they cross, it calculates the direction of 3 nearly previous crossings to get the color of the current line.
-The value has been re-calculated with the processed value from ADX and DI- (That's why it can be more than 100 or -100 in some cases).
-RSI Overbuy and oversell are removed because the value could be beyond it.

How it works:
1. The line is show as the strength index of bars
- Green means the up strength is strong.
- Red means the down strength is strong.
- Gray means the previous strength is getting week.
2. This one can be used to find divergence.
3. This indicator provides a warning signal when the color of the line changes:
- Change color:
+Turn red: "Down Red"
+Turn green: "Up Green"
+Turn gray: "Down Gray"/"Up Gray"

Suitable time frames:
15m, 4h, 1D, 1W

* Please note that this logic does not attempt to predict future prices or 100% accurate signal.
(INVITE ONLY indicator. Please direct message or visit website if you want to try it out)
Hope you guys enjoy!

Examples:
BTCUSD 1D


XAUUSD 4H


EURUSD 1H


SPX 15m

2023년 4월 5일

릴리즈 노트

Fixing some bug about line color change.

2024년 7월 20일

릴리즈 노트

Separate into many terms possible to:
1. Draw bias.


2. Detect divergence.

4월 3일

릴리즈 노트

Upgrade to V6