StochRSI x RSI x CCI x EMAs

2021년 1월 25일

Wanted to put this out there. Kind of a rough explanation but basically I wanted to build an indicator that takes out emotions and is easy to read. The indicator is basically RSI, stochRSI, CCI, and EMAs into an easy to read package. The traffic lights at the end will tell you if stochRSI/RSI and price action above according to EMA ribbon are in agreement. RSI with a period of 2 also always seemed very useful to me but it was just extremely distracting to look at it. I tried to make many rules in this indicator to find as much confluence between RSI, stochRSI, CCI, and EMAs to help you make better decisions. What is shown on the indicator is not necessarily a buy/sell signal. It should be seen as a way to view strength of price and possible momentum changes.

I find that one of the biggest distractions of indicators is taking your eyes off what is really happening at the chart above. This indicator uses popular and well used tools and helps you to get an easier visual of what is happening.

Purple lines at top and bottom: Short RSI ob/os
Red/orange and blue/green lines at top and bottom: When stochRSI k<d or k>d and CCI also crosses +/- 100 or 200
Blue background: when stochRSI k > d and short RSI crosses above 30
Red background: when stochRSI k < d and short RSI crosses below 70
Green crosses: StochRSI is above 80 and making higher highs
Red X crosses: StochRSI is below 20 and making lower lows
Red/green fill of stochRSI and purple/blue dots on RSI: When short RSI and stochRSI are both ob/os
Red/green fill of RSI: Green when Long rsi > 50, red when Long rsi < 50
60/40 lines: Possible support/resistance for RSI

Traffic lights
1st light: Long RSI > EMA and stoch RSI k>d or vice versa
2nd light: Price above EMA 1 and 2 or vice versa
3rd light: when lights 1 and 2 are in agreement

Hope you enjoy!

2021년 1월 25일

릴리즈 노트

Update code.

2021년 1월 26일

릴리즈 노트

Cleaned code and fixed bug with StochRSI. Updated explanation graphic so that you can see how all the different symbols correspond to their respective indicators.

2021년 1월 27일

릴리즈 노트

Added settings to modify StochRSI. Updated graphic to comply with Tradingview house rules.

2021년 1월 27일

릴리즈 노트

Minor update to change some settings around.

2021년 1월 31일

릴리즈 노트

Added bar color according to the 3rd light (when stochrsi k>d, long rsi > rsi ema, and price > both emas or vice versa)

2021년 2월 10일

릴리즈 노트

Visual enhancements. I like to view stochRSI this way better since it takes my attention away from "buy/sell signals" when there are crossovers. White indicates stochrsi and short rsi ob/os, same as before. This way you can try to determine strength of price as well as look for divergences between price and the indicators. Minor change to traffic light conditions.

2021년 2월 10일

릴리즈 노트

Minor update

2021년 2월 10일

릴리즈 노트

Minor update

2021년 2월 11일

릴리즈 노트

Apologize for all the updates. Cosmetic changes. This will be the last one.

2021년 2월 11일

릴리즈 노트

I lied... Final final update. Thank you for your support.

2021년 2월 11일

릴리즈 노트

color change

2021년 2월 11일

릴리즈 노트

Uno mas. Rescaling issues.

2021년 2월 14일

릴리즈 노트

Fixed a few bugs.

2021년 3월 10일

릴리즈 노트

Minor visual enhancements