Relative Strength Index with Moving Average, Linear Regression, Zig Zag (Highs and Lows), Divergence, Ichimoku Cloud, Moving Average Convergence Divergence and True Strength Index Histogram
This script is based on zdmre's RSI script, I revamped a lot of things and added a few indicators from ParkF's RSI script. Disable Labels in the Style tab and the histogram if you don't enlarge the indicator and it seems too small.
Look to buy in the oversold area and bounce of the support of the linear regression. Look to sell in the overbought area and bounce of the resistance of the linear regression. Look for retracement to the moving average or horizontal lines, and divergences for potential reversal.
RSI The Relative Strength Index (RSI) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements.
Moving Average Moving Average (MA) is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance.
Linear Regression The Linear Regression indicator visualizes the general price trend of a specific part of the chart based on the Linear Regression calculation.
Zig Zag (Highs and Lows) The Zig Zag indicator is used to identify price trends, and in doing so plots points on the chart to mark whenever prices reverse by a larger percentage point than a predetermined variable or marker.
Divergence The divergence indicator warns traders and technical analysts of changes in a price trend, oftentimes that it is weakening or changing direction.
Ichimoku Cloud The Ichimoku Cloud is a package of multiple technical indicators that signal support, resistance, market trend, and market momentum.
MACD and TSI Histogram MACD can be used to identify aspects of a security's overall trend. The True Strength Index indicator is a momentum oscillator designed to detect, confirm or visualize the strength of a trend.
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Added RSI colors (ClassicScott) RSI MA can be disabled and colors changed
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Made some changes
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Added RSI Trend (traderharikrishna)
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Added RSI histogram Added more color customization
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Added LSMA and VWAP moving average Added Stochastic RSI
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Code clean up
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Added bars colors Added HMA and ALMA moving average
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Update, more changes
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Cleaning
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Added RSI background fill
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Added possibility to disable only the extended H/L lines while keeping the labels
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Added divergences alerts from zdmre's script
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Added smoothed RSI Added color picker for OB/OS dots
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Added linear regression lines style Made some changes
Added BB reference for RSI line color (change outside the BB) Added BB fill color picker Fixed smoothed RSI being only applied to the RSI line and RSI histogram