CryptoMitchX Memecoin Shorter

Update for "CryptoMitchX Memecoin Shorter" Indicator

New Features & Improvements:

Conditional Hiding of Recommendations:

SHORT Recommendations: These are now hidden when the RSI (Relative Strength Index) falls below 30, preventing signals during potentially oversold conditions.
Take Profit Recommendations: Hidden when the RSI goes above 60, avoiding signals in potentially overbought market conditions.

Refined Alert System:
Alerts for both SHORT and Take Profit signals now only trigger when the RSI conditions are met, ensuring more targeted notifications.

Code Optimization:
The script has been updated to address scope-related errors, improving its reliability and performance on the TradingView platform.

Technical Details:

• RSI Implementation: The RSI is calculated with a 14-period length to determine market momentum.
  
• Conditional Plotting: Instead of using direct conditional statements inside plotting functions, we now use boolean variables to control which signals are plotted, avoiding local scope issues.
  
• Signal Tracking: Continues to track consecutive signals, but now with the added condition of RSI thresholds for more nuanced trading signals.
  

Usage:

Users will see a cleaner chart with signals only appearing when they are most relevant according to RSI levels, reducing false signals and improving the overall trading strategy experience.

Installation:

Simply update or replace the existing indicator script with this new version in your TradingView Pine Script editor.

Known Issues & Limitations:

This update does not include real sentiment analysis due to the limitations of Pine Script in accessing external data. The sentiment is simulated based on price volatility and direction.

Feedback:
We're eager to hear your feedback on these changes. If you encounter any issues or have suggestions for further improvements, please let us know.