Parabolic RSI [ChartPrime]

The Parabolic RSI [ChartPrime] indicator applies the Parabolic SAR directly to the Relative Strength Index (RSI). This combination helps traders identify trend shifts and potential reversal points within the RSI framework. The indicator provides both regular and strong signals based on whether the Parabolic SAR crosses above or below key RSI thresholds.

⯁ KEY FEATURES

• Parabolic SAR Applied to RSI – Tracks momentum shifts within the RSI indicator.
  
• Dynamic SAR Dots – Plots SAR levels directly on the RSI for visual clarity.
  
• Threshold-Based Signal Filtering – Uses upper (70) and lower (30) RSI levels to determine strong signals.
  
• Simple and Strong Signal System:
  Big Diamonds (Strong Signals) – Appear when Parabolic SAR crosses above 70 or below 30 RSI, indicating potential reversals.
  https://www.tradingview.com/x/LM4TFIGj/Small Diamonds (Regular Signals) – Appear when Parabolic SAR flips inside the RSI range, signaling weaker trend shifts.
  
• Chart Overlay Signals – Highlights strong RSI-based trend shifts directly on the price chart.
  
• Fully Customizable – Modify RSI length, SAR parameters, colors, and signal displays.
  

⯁ HOW TO USE

• Look for strong signals (big diamonds) when SAR flips above 70 RSI (overbought) or below 30 RSI (oversold) for potential reversals.
  
• Use regular signals (small diamonds) for minor trend shifts within the RSI range.
  
• Combine with price action and other indicators to confirm entry and exit points.
  
• Adjust the SAR acceleration factors to fine-tune sensitivity based on market conditions.
  

⯁ CONCLUSION
The Parabolic RSI [ChartPrime] indicator merges trend-following and momentum-based analysis by applying the Parabolic SAR to RSI. This allows traders to detect trend shifts inside the RSI space with an intuitive diamond-based signal system. Whether used alone or as part of a broader trading strategy, this indicator provides a clear and structured approach to identifying momentum reversals and potential trading opportunities.