SP_Relative Strength Index
Quick Update to the Steve Primo RSI.
Nothing fancy, but one indicator to represent all his RSI based setups.
Primarily used on Strategy #1 and #8.
Nothing fancy, but one indicator to represent all his RSI based setups.
Primarily used on Strategy #1 and #8.
Uday C Santhakumar
study(title="SP_Relative Strength Index", shorttitle="SP-RSI") up = rma(max(change(close), 0), 5) down = rma(-min(change(close), 0), 5) rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down)) plot(rsi, color=black, linewidth = 3, title = "Steve Primo - RSI") h0 = hline(50, color = blue, title = "Strategy #8 - Threshold Line") h1 = hline(35, color = green, title = "Strategy #1 - Over Sold") h2 = hline(25, color = green, title = "Strategy #1 - Over Sold") h3 = hline(65, color = red, title = "Strategy #1 - Over Bought") h4 = hline(75, color = red, title = "Strategy #1 - Over Bought") fill (h1, h2, color = green, title = "Strategy #1 - Oversold Level") fill (h3, h4, color = red, title = "Strategy #1 - Overbought Level")