Duyck

RSI/MFI - MTF - Entry signals/Trend colored bars - JD

@version=2
This indicator is designed to give early entry signals as well as to follow trend moves, according to different settings.

The indicator shows a histogram of the RSI ro MFI in relation to an ema of the RSI or MFI .
The histogram is then smoothed to give early reversal/entry signals.
The actual RSI / MFI line with oversold/overbought indication can be displayed or omitted, as preferred.
in addition to the RSI / MFI line or as an alternative to it, the background colour can be set to change folowing the RSI / MFI signals.
The timeframe can be chosen. Higher timeframes (eg. 3h) tend to give less false signals.

version 5.
added support for custom Multiple Time Frame selection.
added option for choice of RSI or MFI as base indicator.
added option for price bar coloring according to the indicator. (deselecting "borders" in the "style" tab is recommended)
price bar coloring can be adjusted for different strategies:
1. following the slope of the histogram (for faster entry/exit signals)
2. according to positive or negative histogram (for longer moves)
3. according to pos . or neg. RSI / MFI (for longer term trend holds)
4. uptrend: biased towards faster buy signals and slower sell signals to stay in the uptrend
5. downtrend: biased towards faster sell signals and slower buy signals to stay in the downtrend

A longer timeframe (eg. 3x) is recommended for following trend moves.
try different strategies to see what works better for RSI or MFI .

JD .
릴리즈 노트: minor typo changes
릴리즈 노트: * resolved issue with the indicator REPAINTING WHILE ON A LONGER TIMEFRAME until that longer timeframe has ended. (this gives less noise, but does repaint!!!!, so be very cautious if you decide to use that!!!)

An option is now added to calculate the longer timeframe based on the current price action.
this gives a little more noise but doesn't repaint anymore!

* added soppurt for stochastics as base indicator

* added automatic trendlines that connect the last highs and the lows on the histogram, this can be used for several purposes:
1. indication of RSI-divergence which may lead to a reversal in the near future.
2. if the histogram breaks the higher or lower trendline , this usually results in a reversal to the upper or lower side (as you can see in the example in the previous posts)
3. if you find other uses,... please let me know!! ;-)

My goal is to be able to extend these trendlines automatically so trendline breaks could be added as an automated strategy, but still chewing through that one ;-)

IF YOU HAVE ANY SUGGESTIONS FOR IMPROVEMENTS, CHANGES OR ADDITIONS OR IF YOU WANT TO HELP ME WITH THE DRAWING OF EXTENTIONS TO THE TRENDLINES? LET ME KNOW!!

JD.
릴리즈 노트: Finally found a way to draw the extended trendlines automatically!!!

For clarity ,there is an option to either display the trendlines in the histogram or to remove them, as preferred.
So you can make it as cluttered or as clean as you want to ;-)

A quick explanation, I have found that these trendlines often act as support or resistance for the histogram, once these trendlines are broken, to the upside or downside, this often indicates a reversal in that direction, especially when a "cross" occurs of the green and purple trendline.

Furthermore, I find that the trendlines of the histogram give an easier indication of RSI-divergence then off the RSI-line itself.

******
I'm working on a strategy based on the trendline breaks, but they are a lot easier to spot and interpret manually than to implement in an automated strategy,...
So this is still very "work in progress" and to be used as an "idea".


Any thoughts, ideas or improvements or bugs found,

let me know!


Greets,
JD.


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Disclaimer.
As is the case with everything in this and my other scripts, this is NOT trading advice, and is for educational purposes only!
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릴리즈 노트: ADDED A STRATEGY BASED ON TRENDLINE BREAKS.

"...
7. "trendline break": looking for upwards or downwards breaks of the trendline of the highs and lows, LOOKBACK PERIOD FOR LOWS AND HIGHS CAN/SHOULD BE ADJUSTED FOR THE SPECIFIC SECURITY for better accuracy!!

The automatic trendlines that connect the highs and the lows on the histogram can be used for several purposes:
1. indication of RSI-divergeance which may lead to a reversal in the near future.
2. if the histogram breaks the higher or lower trendline, this usually results in a reversal to the upper or lower side
3. if you find other uses,... please let me know!! ;-)
..."

FOR CLEANER CHARTS the indicator can be altered to show only the last extended trendlines this can be done by changing the number in line 175 "_show_last=10000" (higher numbers give more lines)

Greets,
JD.


*******
Disclaimer.
As is the case with everything in this and my other scripts, this is NOT trading advice, and is for educational purposes only!
*******
오픈 소스 스크립트

진정한 TradingView의 정신에 따라, 이 스크립트의 작성자는 스크립트를 오픈소스로 게시했기에 거래자들이 이해하고 확인할 수 있습니다. 작가님께 건배! 스크립트를 무료로 사용할 수 있지만, 게시물에서 이 코드를 재사용하는 것은 하우스룰을 따릅니다. 당신은 스크립트를 차트에 사용하기 위해 그것을 즐겨찾기 할 수 있습니다.

차트에 이 스크립트를 사용하시겠습니까?
Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.

You can contact me for info/access in PM or on Telegram: @jduyck
PLS, DON'T ASK FOR ACCESS IN THE COMMENT SECTION!

코멘트

can u please make the alerts on chart as back ground colour
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I can't seem to get this to open on my chart. Do I need permission?
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Duyck bfleet
@bfleet, no, the indicator is free. Maybe because of an update by Tradingview, I'll check it out!

Thanks for the report!!
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Thank you for your time and sharing. An explanation on a diagram would be of great help
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@Duyck thanks for the indicator do you have an mt4 version at all. Would appreciate it if you do. Thanks
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Duyck SiriusTrading
@SiriusTrading, not at the moment.
but should be possible.

Gr, JD.
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Love it. Thank you.
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Duyck karabogerald
@karabogerald, my pleasure.
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thank you so much wonderful indicator
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Duyck drladixit
@drladixit, my pleasure!
Gr, JD.
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홈으로 스탁 스크리너 포렉스 스크리너 크립토 스크리너 이코노믹 캘린더 정보 차트 특징 프라이싱 프렌드 리퍼하기 하우스룰(내부규정) 헬프 센터 웹사이트 & 브로커 솔루션 위젯 차팅 솔루션 라이트웨이트 차팅 라이브러리 블로그 & 뉴스 트위터
프로화일 프로화일설정 계정 및 빌링 리퍼드 프렌즈 코인 나의 서포트 티켓 헬프 센터 비밀메시지 채팅 로그아웃