Better RSI

5 oct. 2023

This script is an enhancement of the original RSI (Relative Strength Index) indicator for TradingView. While the core RSI functionality remains intact, several powerful features have been added to make it a "Better RSI" tool for traders and investors.

Key Features:

1. Divergence Detection: The script now includes both Bullish and Hidden Divergence detection. Bullish Divergence helps identify potential trend reversals when the price makes lower lows, but the RSI makes higher lows. Conversely, Hidden Divergence highlights instances where the RSI and price move in opposite directions, signaling potential trend continuation or reversal.

2. Bollinger Band Breakout Highlight: Users have the option to select "Bollinger Bands" as the Moving Average (MA) type in the settings. When enabled, this feature highlights RSI-Bollinger Band breakouts. It's a valuable tool for traders looking to capitalize on RSI movements in conjunction with Bollinger Bands.

3. Customizable Settings: The script provides a range of customizable settings, allowing you to adjust parameters like RSI length, MA type, Bollinger Bands standard deviation, and more to suit your trading strategy.

4. Clear Visuals: The script offers clear visual cues, with colored backgrounds indicating RSI overbought and oversold levels, as well as extreme breakouts. Bullish and bearish divergence points are also marked with distinct crosses, making it easy to spot potential trading opportunities.

Whether you're a seasoned trader or just starting, the "Better RSI" script empowers you with advanced tools to make more informed trading decisions. Use it to identify potential trend reversals, continuation patterns, and RSI-Bollinger Band breakouts in the market.

16 oct. 2023

Notes de version

This script is an enhancement of the original RSI (Relative Strength Index) indicator for TradingView. While the core RSI functionality remains intact, several powerful features have been added to make it a better RSI tool for traders and investors.

Key Features:

1. Divergence Detection: The script now includes both Bullish and Hidden Divergence detection. Bullish Divergence helps identify potential trend reversals when the price makes lower lows, but the RSI makes higher lows. Conversely, Hidden Divergence highlights instances where the RSI and price move in opposite directions, signaling potential trend continuation or reversal.

2. Bollinger Band Breakout Highlight: Users have the option to select "Bollinger Bands" as the Moving Average (MA) type in the settings. When enabled, this feature highlights RSI-Bollinger Band breakouts. It's a valuable tool for traders looking to capitalize on RSI movements in conjunction with Bollinger Bands.

3. Customizable Settings: The script provides a range of customizable settings, allowing you to adjust parameters like RSI length, MA type, Bollinger Bands standard deviation, and more to suit your trading strategy.

4. Clear Visuals: The script offers clear visual cues, with colored backgrounds indicating RSI overbought and oversold levels, as well as extreme breakouts. Bullish and bearish divergence points are also marked with distinct crosses, making it easy to spot potential trading opportunities.

Whether you're a seasoned trader or just starting, the indicator empowers you with advanced tools to make more informed trading decisions. Use it to identify potential trend reversals, continuation patterns, and RSI-Bollinger Band breakouts in the market.

30 avr.

Notes de version

- Inputs and Calculations have been copied from RSI by PineCoders
- Bull and Bear labels added to the indicators made by PineCoders
- I created to displayed Hidden Divergences
- Script is better organized

15 mai

Notes de version

- Added RSI Candle Bars (You can enable RSI Line or RSI bars in the style settings)

16 mai

Notes de version

Small Update

20 juin

Notes de version

• Heikin Ashi Candles
  
• MA Cloud
  
• Additional Lines (40, 60)
  
• RSI Heatmap
  

28 nov.

Notes de version

• Introducing Cyclic RSI. Main code by StockMarketCycles, TradingView Editors Pick. It is more responsive to market moves than the basic RSI. All features works with Cyclic RSI.