RSI Trend Detector PSAR Based

18 thg 9, 2023

RSI Trend Detector is based on the Direction of PSAR. This indicator helps the easy detection of Trend Direction and Sideways Movement of Price. It was difficult to determine the RSI Trend Direction in a basic RSI indicator. one cannot decide the exact entry point where to enter.

RSI Trend Detector helps with the direction of trend using PSAR direction which is almost instant direction changing indicator with Zero Lag. The color of the RSI changes immediately based on PSAR direction. One can determine the trend whether its in UP / Down or Sideways.



One can easily detect Pullback and entry points using this indicator.
The basic working can be interpreted with a normal default RSI, The only additional feature is the direction of trend using a SAR signal.


Oversold Zone is below 30
Overbought Zone is above 70

how ever RSI above 50 is treated a UP trend and Below 50 as Down Trend.
when RSI is between 40 and 60 price must be considered as Sideways. One can easily interpret the TREND.

1. Yellow Line = RSI Moving Average
   
2. RED and Green Line= RSI
   
3. Grey Zone = Sideways
   
4. Horizontal line = RSI level 50
   

Settings can be changed as required.
RSI Line:

1. RSI Above 50 up trend and Entry when color is green
   
2. RSI Below 50 down trend and Entry when color is Red
   
3. RSI in Grey Zone is sideways, wait for a breakout
   
4. RSI above 50 and color is red then its a pullback in uptrend
   
5. RSI below 50 and color is green then its a pullback in downtrend
   

ALERTS:
Up signal and Down Signal are provided when ever RSI crosses RSIMA
Up Signal: RSI crosses RSI Moving Average upwards
Down Signal: RSI crosses RSI Moving Average Downwards


Hope the Tradingview community likes this.