RSI Local Trend

A simple indicator using two RSIs.

Conditions for buy:
RSI(slow) < RSI(fast) and RSI(slow) < long_trigger

Conditions for sell:
RSI(slow) > RSI(fast) and RSI(slow) > short_trigger

It is recommended to use in small timeframes for scalping.

Recommended settings:
slow = 3
fast = 14
long_trigger = 30
short_trigger = 70

In markets where there is very high volatility, it is recommended to change the trigger parameters:
long_trigger = 20
short_trigger = 80

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In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

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