PROTECTED SOURCE SCRIPT
RSI & ADX [deepakks444]
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This Pine Script is designed to provide a comprehensive view of market conditions by combining the Relative Strength Index (RSI) and the Average Directional Index (ADX) indicators. The script offers a range of customizable features to help traders analyze trends, identify overbought and oversold conditions, and make informed trading decisions.
Key Features:
RSI and ADX Calculation:
The script calculates the RSI and ADX values based on user-defined lengths.
The RSI indicator helps identify overbought and oversold conditions.
The ADX indicator measures the strength of the trend.
Trend Identification:
The script uses the Directional Movement Index (DMI) to determine bullish and bearish trends.
It highlights strong trends by changing the background color.
Customizable Colors:
Users can choose to color candles based on ADX or RSI values.
The RSI line can be displayed in a single color or change color based on its value.
Overbought and Oversold Zones:
The script visually represents overbought and oversold zones with fading color effects.
This helps traders quickly identify potential reversal points.
Dynamic Midline:
The midline (50) of the RSI changes color based on the trend direction, providing additional visual cues.
Side Panel for ADX and RSI Values:
A side panel displays the current RSI and ADX values with color-coded boxes for easy reference.
Customizable Parameters:
Users can adjust various parameters such as RSI length, ADX length, ADX threshold, and levels for overbought and oversold zones.
Usage:
Trend Analysis: Use the ADX and DMI to identify strong trends and their direction.
Overbought/Oversold Conditions: Monitor the RSI to spot potential reversal points.
Visual Aids: Utilize the color-coded candles, background, and fading zones to quickly assess market conditions.
This script is designed to be user-friendly and highly customizable, allowing traders to tailor the indicators to their specific trading strategies and preferences. By combining the strengths of RSI and ADX, this script provides a powerful tool for technical analysis.
Key Features:
RSI and ADX Calculation:
The script calculates the RSI and ADX values based on user-defined lengths.
The RSI indicator helps identify overbought and oversold conditions.
The ADX indicator measures the strength of the trend.
Trend Identification:
The script uses the Directional Movement Index (DMI) to determine bullish and bearish trends.
It highlights strong trends by changing the background color.
Customizable Colors:
Users can choose to color candles based on ADX or RSI values.
The RSI line can be displayed in a single color or change color based on its value.
Overbought and Oversold Zones:
The script visually represents overbought and oversold zones with fading color effects.
This helps traders quickly identify potential reversal points.
Dynamic Midline:
The midline (50) of the RSI changes color based on the trend direction, providing additional visual cues.
Side Panel for ADX and RSI Values:
A side panel displays the current RSI and ADX values with color-coded boxes for easy reference.
Customizable Parameters:
Users can adjust various parameters such as RSI length, ADX length, ADX threshold, and levels for overbought and oversold zones.
Usage:
Trend Analysis: Use the ADX and DMI to identify strong trends and their direction.
Overbought/Oversold Conditions: Monitor the RSI to spot potential reversal points.
Visual Aids: Utilize the color-coded candles, background, and fading zones to quickly assess market conditions.
This script is designed to be user-friendly and highly customizable, allowing traders to tailor the indicators to their specific trading strategies and preferences. By combining the strengths of RSI and ADX, this script provides a powerful tool for technical analysis.
Notes de version
Added RSI MA.Notes de version
Added Divergence option.
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