TOP-RSI Double Confirm + Heiken Ashi + Buy/Sell Labels v01

📊 RSI Double Confirm + Heiken Ashi + Labels
🔎 Concept

This indicator combines a Zero-based RSI filter with strict candle close confirmation, overlays Heiken Ashi candles for clearer trend visualization, and adds Buy/Sell labels directly on the chart for easier interpretation.

⚙️ Components
1. RSI Double Confirm

RSI is calculated from OHLC4 (open+high+low+close)/4.

The RSI value is shifted by -50 to center it around zero (above 0 = bullish, below 0 = bearish).

Uses user-defined thresholds: Overbought (OB) and Oversold (OS).

📌 Entry conditions:

Buy Signal → RSI crosses upward through OS and the last closed candle is higher than the previous candle.

Sell Signal → RSI crosses downward through OB and the last closed candle is lower than the previous candle.

2. Heiken Ashi Candles

Custom Heiken Ashi values are calculated: haOpen, haClose, haHigh, haLow.

Candles are colored green (if haClose > haOpen) or red (if haClose < haOpen).

Helps smooth price action and highlight trend direction.

3. Alerts

alertcondition is set for both Buy and Sell signals.

Users can create TradingView alerts that trigger whenever a new signal appears.

4. Signals & Labels

A green up arrow is plotted under the candle when a Buy signal is triggered.

A red down arrow is plotted above the candle when a Sell signal is triggered.

Additionally, labels ("Buy" or "Sell") are added at the respective candle to make signals more visible.

📝 How to Use

Add the indicator to your chart (it overlays directly on price).

Adjust inputs:

OB (Overbought) → e.g. 20

OS (Oversold) → e.g. -20

RSI Length → e.g. 7

Watch for signals:

Buy Signal → Green arrow + "Buy" label → potential bullish entry.

Sell Signal → Red arrow + "Sell" label → potential bearish entry.

Set up alerts in TradingView to be notified when new signals appear.

✅ Benefits

Combines RSI confirmation + Heiken Ashi trend filter + Clear chart labels.

Reduces false signals by requiring both RSI cross and strict close confirmation.

Easy to interpret visually with arrows and text labels.

⚠️ Notes

This indicator is meant as a signal confirmation tool, not a standalone strategy.

Best used alongside support/resistance analysis, price action, or volume.

Does not provide automatic stop loss / take profit levels → risk management must be applied by the trader.