𝓜𝓐 𝓢𝓶𝓸𝓸𝓽𝓱𝓮𝓭 𝓡𝓢𝓘 𝓕𝓸𝓻 𝓛𝓸𝓸𝓹MA Smoothed Source For RSI Loop | Crypto_Mercenary_
Conceptual Foundation and Innovation
The "MA Smoothed Source For RSI Loop" indicator developed by Crypto_Mercenary_ innovates by smoothing the source data used for RSI calculation with various moving averages before feeding it into a for-loop scoring system. Rather than smoothing the RSI itself, this approach focuses on pre-processing the price data to reduce noise, thereby providing a cleaner input for RSI computation. The for-loop then evaluates this smoothed RSI to generate momentum signals, offering traders a refined method for detecting market trends and potential reversals.
Technical Composition and Calculation
The indicator's functionality is divided into two main parts:
Source Smoothing: Before calculating RSI, the source data (typically close price) is smoothed using one of several moving averages (EMA, SMA, WMA, VWMA, HMA, RMA, DEMA, or none) as selected by the user. This smoothing aims to filter out short-term volatility, providing a more consistent base for RSI calculation.
RSI Calculation and For-Loop Scoring:
RSI: Calculated using the smoothed source data over a user-defined length.
For-Loop Mechanism: A loop runs from a to b, comparing the current RSI value with past values of this smoothed RSI. A score (counter) is generated, which increases or decreases based on whether the current RSI exceeds or falls below past values. If the weighted option is activated, this comparison gives more weight to recent data points, adjusting the score accordingly.
The final score is then potentially normalized for better interpretation, compared against thresholds to determine market momentum signals.
Features and User Inputs
This indicator is highly customizable, allowing traders to tailor its behavior:
Weighted Calculation: Option to adjust scoring to favor recent price action.
RSI Length: Sets the period for RSI calculation.
Source: The price data to be smoothed before RSI calculation, default is close.
MA Type: Choice from various moving averages to smooth the source data.
Smooth Length: Length of the moving average used for smoothing.
For Loop Range: Defines the historical range (a to b) for the scoring loop.
Thresholds: Custom thresholds to define when signals for uptrends or downtrends are generated.
Practical Applications
This indicator is particularly beneficial for:
Identifying Momentum Shifts: The scoring system helps in detecting potential changes in market momentum.
Noise Reduction: By smoothing the source data, it aims to provide more reliable RSI signals in volatile markets.
Trend Analysis: Assists in confirming or challenging the current market trend based on the smoothed RSI's performance.
Advantages and Strategic Value
The "MA Smoothed Source For RSI Loop" offers an advantage by focusing on cleaning the input data for RSI, which can lead to more accurate momentum readings. Its flexibility in configuration allows traders to adapt the indicator to different market conditions or asset volatilities, enhancing its strategic value in trading decisions.
Alerts and Visual Cues
Visual Signals: The indicator plots the loop score, with colors indicating uptrends (gold) or downtrends (blue). Horizontal lines at thresholds and shaded areas between them provide visual aids for trend analysis.
**No explicit alerts in the script, but users can set up custom alerts based on the signals.
Summary and Usage Tips
The "MA Smoothed Source For RSI Loop | Crypto_Mercenary_" provides a nuanced approach to RSI by smoothing the price data before its calculation, resulting in potentially more reliable signals. Traders can use this indicator to gain a clearer picture of market momentum, adjusting parameters to fit different market behaviors or trading strategies. Remember, the effectiveness of this tool largely depends on its customization to the specific market context.
Note: Backtests are based on past results and do not guarantee future performance.
Chỉ số Sức mạnh Tương quan (RSI)
Multi-Timeframe RSI with Close ConfirmationSimple RSI indicator, if value above 50 it will show green, if value less than 50 it will show red.
SMA + Stochastic RSI + ADX Strategy (5M)This script implements a strategy that uses:
✅ SMA 20 and SMA 200 crossover (trend identification)
✅ Stochastic RSI (entry point filtering)
✅ ADX > 25 (trend strength determination)
✅ Trailing stop (profit locking)
✅ Position reversal when the trend changes
🔹 How does the strategy work?
📌 Entry for BUY
✅ SMA 20 crosses above SMA 200
✅ ADX > 25 (strong trend)
✅ Stochastic RSI is below 20 and crosses up
✅ Price is above the average ATR (sufficient volatility)
➡ Open a BUY trade
📌 Entry for SELL
✅ SMA 20 crosses below SMA 200
✅ ADX > 25 (strong trend)
✅ Stochastic RSI is above 80 and crosses down
✅ Price is above the average ATR
➡ Open a SELL trade
📌 Position Reversal
✅ If there was a BUY, but a SELL signal appears → close BUY, open SELL.
✅ If there was a SELL, but a BUY signal appears → close SELL, open BUY.
✅ 2-candle delay before re-entering to avoid false signals.
📌 Exit from trade
✅ Trailing stop (50 pips, step 10) — locks in profits.
✅ Reversal — closes the current trade and enters the opposite one.
🔹 Why does this strategy work ?
✅ SMA 20 and 200 — excellent trend indicators.
✅ ADX > 25 — helps avoid flat markets and false signals.
✅ Stochastic RSI — a precise oscillator that shows entry points.
✅ Trailing stop — protects profits, especially with gold’s high volatility.
✅ Position reversal — always in the market, minimizing missed moves.
🔹 Customize it!
Feel free to adjust and fine-tune the parameters to match your trading style. Good luck!
MACD-RSI-Hacim Tarayıcıbu gösterge, MACD, RSI ve hacim kombinasyonunu kullanarak alım ve satım sinyalleri üretir.
Fakeout Resistant Indicator - by YaldabaothThis script, "Fakeout-Resistant Trend Master," is designed to provide highly reliable buy and sell signals while minimizing false breakouts (fakeouts). It combines multiple technical indicators to ensure strong trend confirmations before generating signals
Raja_MTF_RSI_StrategyLong when lower timeframe RSI is in oversold region and higher timeframe RSI is also in oversold region. Similarly short when lower timeframe RSI is in overbought region and higher timeframe RSI is also in overbought region.
Refined Ichimoku with MACD and RSI Strategy - HTF OptimizedIndicator Summary: Refined Ichimoku with MACD and RSI Strategy
Philosophy and Approach
The "Refined Ichimoku with MACD and RSI Strategy" is designed as a hybrid trend-following and range-bound trading strategy. It leverages the Ichimoku Cloud for market regime detection, MACD for momentum confirmation, RSI for overbought/oversold conditions, and ATR for dynamic stop-loss placement. The strategy seeks to capture trends in trending markets while also identifying reversal opportunities in range-bound conditions.
Core Philosophy:
Use the Ichimoku Cloud as the foundation for detecting trending vs. range-bound markets.
Combine multiple indicators (MACD, RSI, Stochastic RSI) to improve signal quality and reduce false entries.
Implement robust risk management using ATR-based stop-loss levels.
Approach:
Trending Markets: Enter long trades when price is above the Ichimoku Cloud with bullish momentum (e.g., RSI > 55, MACD histogram > 0). Enter short trades when price is below the cloud with bearish momentum.
Range-Bound Markets: Enter mean-reversion trades at overbought/oversold levels (e.g., RSI < 30 or > 70, Stochastic RSI extremes).
Strengths
Robust Market Regime Detection:
The Ichimoku Cloud effectively distinguishes between trending and range-bound markets, allowing the strategy to adapt dynamically.
Confluence of Indicators:
The use of MACD, RSI, and Stochastic RSI ensures that trades are only taken when multiple conditions align, reducing false signals.
Dynamic Risk Management:
ATR-based stop-loss levels adapt to market volatility, minimizing drawdowns while allowing trades to breathe.
Visualization:
Highlights trending markets (green background) and range-bound markets (red background) for easy interpretation.
Plots the Ichimoku Cloud for visual confirmation of market structure.
Performance on Higher Timeframes:
Backtesting results show strong performance on daily (D1) charts, with a profit factor of 2.159 and a net profit of +10.71% over the testing period.
Weaknesses
Low Percent Profitable:
Across all timeframes, the percent profitable is below 40%, indicating that many trades are unprofitable.
This suggests that the entry/exit logic may need further refinement.
Overtrading on Lower Timeframes:
On H4 charts, the strategy executed 430 trades with a profit factor of only 1.219, indicating overtrading and reduced efficiency.
Missed Opportunities in Range-Bound Markets:
While designed to trade reversals in range-bound conditions, the strategy's filters may be too restrictive, leading to missed opportunities.
Complexity:
The combination of multiple indicators (Ichimoku Cloud, MACD, RSI, Stochastic RSI) increases complexity, which may make it harder for users to understand or optimize.
Recommended Timeframes
Daily (D1):
Best performance observed during backtesting.
Strong profit factor (2.159) and manageable drawdowns (-2.10%) make it ideal for swing traders looking to capture long-term trends.
4-Hour (H4):
Marginal profitability observed during backtesting (profit factor of 1.219).
Suitable for traders willing to refine filters to reduce overtrading and improve signal quality.
Avoid Lower Timeframes (e.g., M15):
High noise levels lead to frequent false signals and poor profitability.
Performance Metrics from Backtesting (BTCUSDT)
Timeframe Net Profit Profit Factor Total Trades Percent Profitable Max Drawdown
Daily (D1) +10.71% 2.159 58 37.93% 2.10%
4-Hour (H4) +6.16% 1.219 430 32.56% 2.47%
Final Thoughts
The "Refined Ichimoku with MACD and RSI Strategy" is a versatile tool for traders who prefer higher timeframes like D1 or H4 charts. While it excels in capturing long-term trends with robust risk management, it struggles with low percent profitable rates and overtrading on lower timeframes. By focusing on simplicity and refining entry/exit logic, this strategy has the potential to deliver consistent results for swing traders seeking a balance between trend-following and mean-reversion approaches. By making the code open, it is hoped that experts might be able to adjust the variables within the script to their liking while still benefiting from the overall approach and philosophy of the strategy.
Regarding the three Strategy Indicator Settings:
1. Conversion Line Length (Default: 9)
What It Does:
The Conversion Line (Tenkan-sen) is a short-term moving average that represents the midpoint of the highest high and lowest low over the specified period (default: 9).
It acts as a fast-moving signal line, similar to a short-term moving average.
Recommendations:
Default Setting (9): Works well for most timeframes, especially higher timeframes like Daily (D1) or Weekly, as it captures short-term momentum effectively.
Shorter Timeframes (M15, H1): Consider reducing this value to 6 or 7 to make the Conversion Line more responsive to rapid price changes.
Higher Timeframes (D1, Weekly): Stick with the default value of 9 to avoid excessive noise.
When to Adjust:
Decrease if you want faster signals for scalping or intraday trading.
Increase slightly (e.g., to 10 or 12) if you want smoother signals for swing trading.
2. Base Line Length (Default: 26)
What It Does:
The Base Line (Kijun-sen) is a medium-term moving average that represents the midpoint of the highest high and lowest low over the specified period (default: 26).
It serves as a key support/resistance level and a trend confirmation signal when crossed by the Conversion Line.
Recommendations:
Default Setting (26): Standard for most markets and timeframes. It balances responsiveness with stability.
Shorter Timeframes: Reduce to 20–22 for faster signals in volatile markets.
Higher Timeframes: Stick with the default value of 26 or increase slightly to 30 for smoother trend confirmation.
When to Adjust:
Decrease for quicker trend signals in fast-moving markets.
Increase for long-term trading strategies where you want stronger support/resistance levels.
3. Lagging Span Length (Default: 52)
What It Does:
The Lagging Span (Chikou Span) plots the current closing price shifted backward by the specified number of periods (default: 52).
It helps confirm trends by comparing current price action to past price levels.
Recommendations:
Default Setting (52): Works well across most timeframes, as it aligns with traditional Ichimoku settings designed for long-term trends.
Shorter Timeframes: Reduce slightly to around 40–45 if you want quicker trend confirmations in intraday trading.
Higher Timeframes: Keep at the default value of 52, as it provides reliable confirmation of long-term trends.
When to Adjust:
Decrease for faster confirmation in high-volatility environments.
Increase only if you are focusing on very long-term trends, such as on Monthly charts.
General Disclaimer
Not Financial Advice:
This script is provided for educational and informational purposes only. It should not be considered financial or investment advice. Always consult with a qualified financial advisor before making trading decisions.
Use at Your Own Risk:
Trading involves significant risk, and past performance is not indicative of future results. Users are solely responsible for any losses incurred while using this strategy.
No Guarantee of Profitability:
While this strategy has been backtested on historical data, there is no guarantee that it will perform similarly in live market conditions due to differences in market behavior, slippage, and latency.
Technical Disclaimer
Indicator Limitations:
This strategy relies on technical indicators such as the Ichimoku Cloud, MACD, RSI, and ATR. These indicators are lagging or reactive by nature and may not accurately predict future price movements.
Timeframe-Specific Performance:
This strategy has shown better performance on higher timeframes (e.g., Daily). It may not perform well on lower timeframes (e.g., M15) due to increased market noise.
Customization Required:
The default settings (e.g., Conversion Line Length = 9, Base Line Length = 26, Lagging Span Length = 52) are optimized for general use but may require adjustment based on the user's trading style, asset class, or timeframe.
Market Risks Disclaimer
Market Conditions Matter:
The effectiveness of this strategy depends heavily on market conditions. It performs best in trending markets and may struggle in highly volatile or range-bound environments without adjustments.
Slippage and Execution Risks:
Backtesting results do not account for slippage, spreads, or order execution delays that occur in live trading environments.
No Adaptation to News Events:
This strategy does not incorporate fundamental analysis or news events that can significantly impact price movements.
User Responsibility Disclaimer
Backtesting and Optimization:
Users are encouraged to backtest and optimize the strategy on their chosen assets and timeframes before deploying it in live trading.
Monitor Regularly:
This strategy is not a "set-and-forget" tool. Users should monitor trades regularly and adjust settings as needed to adapt to changing market conditions.
Risk Management Required:
Proper risk management practices (e.g., position sizing, stop-loss placement) are crucial when using this strategy to minimize potential losses.
RSI Double Timeframe [4H & 1D < 30] Script pour TradingView qui affiche les RSI 4H et 1D et signale quand les deux sont en dessous de 30
[TEST gpt ]RSI & Volume Contrarian Strategy vtest okaytest okaytest okaytest okaytest okaytest okaytest okaytest okaytest okaytest okaytest okay
Nina Multiple VWAP with TDI MBL and RSI entry signalsThis version of my indicator will give signals at the top and bottom of the chart when the following criteria is met :
Price above/below daily VWAP
Price above/below weekly VWAP
Price above/below high of day or low of day VWAP
TDI MBL above/below 50
An additional signal will appear under/above a candle when there is an RSI cross indicating momentum for an entry to finetune entries
Use these confluences together with a higher timeframe area of interest to trade from
Limanx RSI AlertEnglish Usage Guide for Limanx RSI Alert
Overview
The Limanx RSI Alert indicator calculates the Relative Strength Index (RSI) using a user-defined period and displays it in a separate pane. It draws horizontal lines at customizable high and low RSI levels and generates alerts when the RSI exceeds the high level or falls below the low level.
Features
RSI Calculation:
Computes the RSI based on the closing prices.
The period can be adjusted using the "RSI Period" input.
Customizable Thresholds:
Set your desired high and low levels using the "High RSI Level" and "Low RSI Level" inputs.
Alert Conditions:
Triggers an alert when the RSI is at or above the high level.
Triggers an alert when the RSI is at or below the low level.
Alert messages are defined as constant strings to meet TradingView requirements.
Plotting:
The RSI is plotted as a blue line in a dedicated panel.
Horizontal lines mark the high (red) and low (green) thresholds, making it easy to visualize potential overbought or oversold conditions.
How to Use
Add the Code to TradingView:
Copy the complete code and paste it into the Pine Editor in TradingView.
Customize Input Parameters:
Modify the "RSI Period" to change the period used for the RSI calculation.
Adjust the "High RSI Level" and "Low RSI Level" to set your desired threshold values.
Add the Indicator to Your Chart:
Save the script and add it to your chart. It will appear in a separate panel below the main price chart.
Set Up Alerts (Optional):
Use TradingView's alert system by selecting the defined alert conditions ("RSI High" and "RSI Low") to receive notifications when the RSI reaches the specified levels.
RSI/MOM/MACD/Squezee/Donchian/HULL/SUPERTREND/Waddath Attar GAOOptimized Trading Strategy with RSI, MOM, MACD, Donchian, Squeeze, HULL, Supertrend & Waddah Attar
Our trading strategy combines multiple technical indicators to maximize trend identification, momentum confirmation, and trade execution precision.
📌 RSI (Relative Strength Index) – Measures overbought and oversold conditions, helping to spot potential reversals.
📌 MOM (Momentum Indicator) – Confirms price acceleration and strength, identifying possible breakouts or trend exhaustion.
📌 MACD (Moving Average Convergence Divergence) – A trend-following momentum indicator that highlights bullish or bearish crossovers.
📌 Donchian Channel – Defines support and resistance levels, signaling breakouts when price moves beyond its range.
📌 Squeeze (TTM Squeeze) – Detects periods of low volatility before explosive moves, ideal for breakout trading.
📌 HULL Moving Average – A fast and smooth moving average used to reduce lag and provide better trend direction.
📌 Supertrend – A dynamic trend indicator that adjusts based on volatility, providing clear buy and sell signals.
📌 Waddah Attar Explosion – Measures momentum and volatility, helping to confirm strong breakouts with volume-based signals.
By integrating these indicators on higher timeframes (such as 4H and Daily), traders can refine entry and exit points, minimize false signals, and maximize profits. 🚀📈
Volatility Arbitrage Spread Oscillator Model (VASOM)The Volatility Arbitrage Spread Oscillator Model (VASOM) is a systematic approach to capitalizing on price inefficiencies in the VIX futures term structure. By analyzing the differential between front-month and second-month VIX futures contracts, we employ a momentum-based oscillator (Relative Strength Index, RSI) to signal potential market reversion opportunities. Our research builds upon existing financial literature on volatility risk premia and contango/backwardation dynamics in the volatility markets (Zhang & Zhu, 2006; Alexander & Korovilas, 2012).
Volatility derivatives have become essential tools for managing risk and engaging in speculative trades (Whaley, 2009). The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) measures the market’s expectation of 30-day forward-looking volatility derived from S&P 500 option prices (CBOE, 2018). Term structures in VIX futures often exhibit contango or backwardation, depending on macroeconomic and market conditions (Alexander & Korovilas, 2012).
This strategy seeks to exploit the spread between the front-month and second-month VIX futures as a proxy for term structure dynamics. The spread’s momentum, quantified by the RSI, serves as a signal for entry and exit points, aligning with empirical findings on mean reversion in volatility markets (Zhang & Zhu, 2006).
• Entry Signal: When RSI_t falls below the user-defined threshold (e.g., 30), indicating a potential undervaluation in the spread.
• Exit Signal: When RSI_t exceeds a threshold (e.g., 70), suggesting mean reversion has occurred.
Empirical Justification
The strategy aligns with findings that suggest predictable patterns in volatility futures spreads (Alexander & Korovilas, 2012). Furthermore, the use of RSI leverages insights from momentum-based trading models, which have demonstrated efficacy in various asset classes, including commodities and derivatives (Jegadeesh & Titman, 1993).
References
• Alexander, C., & Korovilas, D. (2012). The Hazards of Volatility Investing. Journal of Alternative Investments, 15(2), 92-104.
• CBOE. (2018). The VIX White Paper. Chicago Board Options Exchange.
• Jegadeesh, N., & Titman, S. (1993). Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency. The Journal of Finance, 48(1), 65-91.
• Zhang, C., & Zhu, Y. (2006). Exploiting Predictability in Volatility Futures Spreads. Financial Analysts Journal, 62(6), 62-72.
• Whaley, R. E. (2009). Understanding the VIX. The Journal of Portfolio Management, 35(3), 98-105.
Composite Strength Indicator This indicator calculates a composite market strength value by
combining multiple technical metrics: a manually-computed ADX,
RSI, EMA crossover, MACD histogram, and Rate of Change (ROC).
The indicator then visualizes the strength by changing both the
chart's background color and the candle (bar) colors based on
several strength phases:
- Very Strong Bullish (> 30): Green (background semi-transparent, candles opaque)
- Moderately Strong Bullish (21 to 30): Lime
- Mild Bullish (11 to 20): Teal
- Neutral (-10 to 10): Gray
- Mild Bearish (-20 to -11): Orange
- Moderately Strong Bearish (-30 to -21): Red
- Very Strong Bearish (< -30): Maroon
You can customize the indicator parameters (ADX, RSI, EMA, MACD, ROC)
and use the toggles "Display Background Color" and "Display Candle Color"
to enable or disable each color feature.
RSI + Volume High + ICT Entry SignalWhen the RSI crosses down the 70 level, with a high-volume candle of at least 3% price change. It also has configurable options for showing VWMA and WMA of the RSI, and additional levels for stop loss and ICT model 1 entry criteria.
Relative Strength Index colored above/below midpointThis indicator enhances the standard Relative Strength Index (RSI) by incorporating dynamic color changes, moving average smoothing, Bollinger Bands, and divergence detection. It visually highlights overbought and oversold conditions while offering customizable smoothing options to refine RSI signals. Additionally, it detects potential bullish and bearish divergences by analyzing price action relative to RSI movements, helping traders spot potential trend reversals. The indicator also provides real-time alerts when divergences are detected, making it a valuable tool for identifying shifts in market momentum.
x1Multi Time Frame RSI Panel", designed to monitor the Relative Strength Index (RSI) across multiple timeframes and generate buy and sell alerts based on predefined RSI thresholds. Here's a breakdown of its functionality:
Key Features:
Multi-Timeframe RSI Calculation:
Fetches RSI values from various timeframes, including 1m, 3m, 5m, 7m, 15m, 30m, 1h, 2h, 4h, 1d, 1w, 1M.
Allows users to select which timeframes they want to display.
RSI Thresholds for Buy and Sell Alerts:
Allows users to configure RSI thresholds for different timeframes.
Buy and sell conditions are determined based on RSI crossovers and crossunders.
Customizable Settings:
Dark Mode option for better visibility.
Adjustable RSI period.
Custom upper and lower RSI thresholds for each timeframe.
Alert Conditions:
Buy Alert:
RSI crossover for the 1-minute timeframe.
RSI values within predefined thresholds for 3m, 15m, 30m, and 60m.
Sell Alert:
RSI crossunder for the 1-minute timeframe.
RSI values below predefined thresholds for 3m, 15m, 30m, and 60m.
Alerts are triggered visually on the chart and through TradingView's alert system.
GFS2k25Multi Time Frame RSI Panel", designed to monitor the Relative Strength Index (RSI) across multiple timeframes and generate buy and sell alerts based on predefined RSI thresholds. Here's a breakdown of its functionality:
Key Features:
Multi-Timeframe RSI Calculation:
Fetches RSI values from various timeframes, including 1m, 3m, 5m, 7m, 15m, 30m, 1h, 2h, 4h, 1d, 1w, 1M.
Allows users to select which timeframes they want to display.
RSI Thresholds for Buy and Sell Alerts:
Allows users to configure RSI thresholds for different timeframes.
Buy and sell conditions are determined based on RSI crossovers and crossunders.
Customizable Settings:
Dark Mode option for better visibility.
Adjustable RSI period.
Custom upper and lower RSI thresholds for each timeframe.
Alert Conditions:
Buy Alert:
RSI crossover for the 1-minute timeframe.
RSI values within predefined thresholds for 3m, 15m, 30m, and 60m.
Sell Alert:
RSI crossunder for the 1-minute timeframe.
RSI values below predefined thresholds for 3m, 15m, 30m, and 60m.
Alerts are triggered visually on the chart and through TradingView's alert system.
MACD, RSI, EMAScript with MACD, RSI and EMA all in one.
Features:
✅ MACD (Moving Average Convergence Divergence) – Identifies trend direction and momentum shifts using the MACD line, signal line, and histogram.
✅ RSI (Relative Strength Index) – Helps spot overbought/oversold conditions and potential reversals.
✅ EMA (Exponential Moving Average) – Smooths price action to highlight the prevailing trend and dynamic support/resistance levels.
This indicator is perfect for traders who want clear trend confirmation, momentum insights, and dynamic entry/exit points—all in a single tool!
Try it out and enhance your trading strategy! Let me know your feedback in the comments.
RSX Divergence ProRSX Divergence Pro detects regular and hidden divergences using a smoothed Relative Strength Xtra (RSX) oscillator. It helps traders identify trend reversals and trend continuation signals with clear visual labels. Users can enable/disable divergences, adjust RSX length, customize label colors/sizes, and choose different price types. The indicator also includes dynamic RSX coloration and adjustable overbought/oversold levels for better market insights. Perfect for traders seeking precision in divergence detection and smoother signals than traditional RSI. 🚀
RSI & MFI Combined With better divergences -100 to 100A modified RSI and MFI in one indicator.
Modifications:
Adjusted the range from 0 to 100 to -100 to 100
Modified divergence detection logic to plot using 2 different lookback periods
Added divergence detection to MFI
Added oversold/overbought gradient to MFI
Added combined oversold/overbought indication
Waldo Momentum Cloud Bollinger Bands (WMCBB)
Title: Waldo Momentum Cloud Bollinger Bands (WMCBB)
Description:
Introducing the "Waldo Momentum Cloud Bollinger Bands (WMCBB)," an innovative trading tool crafted for those who aim to deepen their market analysis by merging two dynamic technical indicators: Dynamic RSI Bollinger Bands and the Waldo Cloud.
What is this Indicator?
WMCBB integrates the volatility-based traditional Bollinger Bands with a momentum-sensitive approach through the Relative Strength Index (RSI). Here’s how it works:
Dynamic RSI Bollinger Bands: These bands dynamically adjust according to the RSI, which tracks the momentum of price movements. By scaling the RSI to align with price levels, we generate bands that not only reflect market volatility but also the underlying momentum, offering a refined view of overbought and oversold conditions.
Waldo Cloud: This feature adds a layer of traditional Bollinger Bands, visualized as a 'cloud' on your chart. It employs standard Bollinger Band methodology but enhances it with additional moving average layers to better define market trends.
The cloud's color changes dynamically based on various market conditions, providing visual signals for trend direction and potential trend reversals.
Why Combine These Indicators?
Combining Dynamic RSI Bollinger Bands with the Waldo Cloud in WMCBB aims to:
Enhance Trend Identification: The Waldo Cloud's color-coded system aids in recognizing the overarching market trend, while the Dynamic RSI Bands give insights into momentum changes within that trend, offering a comprehensive view.
Improve Volatility and Momentum Analysis: While traditional Bollinger Bands measure market volatility, integrating RSI adds a layer of momentum analysis, potentially leading to more accurate trading signals.
Visual Clarity: The unified color scheme for both sets of bands, which changes according to RSI levels, moving average crossovers, and price positioning, simplifies the process of gauging market sentiment at a glance.
Customization: Users have the option to toggle the visibility of moving averages (MA) through the settings, allowing for tailored analysis based on individual trading strategies.
Usage:
Utilize WMCBB to identify potential trend shifts by observing price interactions with the dynamic bands or changes in the Waldo Cloud's color.
Watch for divergences between price movements and RSI to forecast potential market reversals or continuations.
This combination shines in sideways markets where traditional indicators might fall short, as it provides additional context through RSI momentum analysis.
Settings:
Customize parameters for both the Dynamic RSI and Waldo Cloud Bollinger Bands, including the calculation source, standard deviation factors, and moving average lengths.
WMCBB is perfect for traders seeking to enhance their market analysis through the synergy of momentum and volatility, all while maintaining visual simplicity. Trade with greater insight using the Waldo Momentum Cloud Bollinger Bands!
