OPEN-SOURCE SCRIPT
Support line based on RSI
This indicator builds a support line using the stock price and RSI.
Inputs:
1. Time window for the RSI:
the time window the RSI is calculated with, usually it's 14 but in here I recommend 30.
2. offset by percentage:
just adding or subtructing some percentage of the result, some stocks need a bit of offset to work
3. stability:
the higher it is the less the RSI effects the graph. for realy high stability the indicator the the stock price will be realy close.
formula: (close*(100-newRSI)/50)*(100+offset)/100
when:
newRSI = (RSI + (50 * stability1))/(stability+1)
recommended usage:
Usually, if the indicator becomes higher than the price, (the price lowers). the stock will go up again to around the last price where they met.
so, for example, if the stock price was 20 and going down. while the indicator was 18 and going up, then they met at 19 and later the indicator became 20 while the stock fell to 18. most chances are that the stock will come back to 19 where they met and at the same time the indicator will also get to 19.
In stocks that are unstable, like NVDA. this indicator can be used to see the trend and avoid the unstability of the stock.
Inputs:
1. Time window for the RSI:
the time window the RSI is calculated with, usually it's 14 but in here I recommend 30.
2. offset by percentage:
just adding or subtructing some percentage of the result, some stocks need a bit of offset to work
3. stability:
the higher it is the less the RSI effects the graph. for realy high stability the indicator the the stock price will be realy close.
formula: (close*(100-newRSI)/50)*(100+offset)/100
when:
newRSI = (RSI + (50 * stability1))/(stability+1)
recommended usage:
Usually, if the indicator becomes higher than the price, (the price lowers). the stock will go up again to around the last price where they met.
so, for example, if the stock price was 20 and going down. while the indicator was 18 and going up, then they met at 19 and later the indicator became 20 while the stock fell to 18. most chances are that the stock will come back to 19 where they met and at the same time the indicator will also get to 19.
In stocks that are unstable, like NVDA. this indicator can be used to see the trend and avoid the unstability of the stock.
Script open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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