StochRSI x RSI x CCI x EMAs
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!
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!
릴리즈 노트:
Update code.
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.
릴리즈 노트:
Added settings to modify StochRSI. Updated graphic to comply with Tradingview house rules.
릴리즈 노트:
Minor update to change some settings around.
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)
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.
릴리즈 노트:
Minor update
릴리즈 노트:
Minor update
릴리즈 노트:
Apologize for all the updates. Cosmetic changes. This will be the last one.
릴리즈 노트:
I lied... Final final update. Thank you for your support.
릴리즈 노트:
color change
릴리즈 노트:
Uno mas. Rescaling issues.
릴리즈 노트:
Fixed a few bugs.
릴리즈 노트:
Minor visual enhancements