RSI with Self-Adjusting Linear Regression Bands (Expo) makes use of RSI and Linear Regression to create an RSI that follows the current trend. The indicator has an upper and lower self-adjusting Linear Regression Band that act as RSI boundaries.
HOW TO USE The indicator can be used in multiple ways, for instance, to find overbought and oversold areas. Or to identify trends as well as pullbacks in trends.
INDICATOR IN ACTION
This indicator is a modification of RafaelZioni's work "Linear Regression Trend bands" Credit to: RafaelZioni
I hope you find this indicator useful, and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
----------------- Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
Please make me understand how can i use it.i am not getting how can i use it
Riskyscalps
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I have been using the RSI with an EMA(14) for a long time and this upgrade - your version - is absolutely fantastic! I am really impressed with the information it is able to provide.
I use it in dark mode, IMO it is even better and easy to read.
I have built a custom strategy around it with Heiken Ashi and would be happy to show you how it looks and how it works and maybe get your feedback!
Thank you for sharing it :)
Jpdeletraz
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@Rightmood, Hey hope you don't mind me contacting you :) Im not sure if your okay with it or not but if you are. Would love to learn your strategy, it sounds quite intriguing and I work well with heikin ashi. If you have a minute to explain the setup and indicators.
Im always keen on learning further and optimizing any parts of my trading :)
Have a nice weekend.
JP
Zeiierman
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@Rightmood, Thanks, we're glad that you like it. I would like to give feedback on the strategy you're using :)
xxxtbluan
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@Rightmood, thank for share, can you share your code with heiken ashi. Thank.
benjobenjosachin
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Please guide me complete detail,how will i use this indicator,where is pullback aand where is overbought and oversold,please
DDMyke
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Absolutely fucking amazing! Thanks for this gem!!!