RSI Momentum Signal & O59 Elite Quant

RSI Momentum Signal is a technical analysis indicator designed to highlight potential momentum-based reversal points using the Relative Strength Index (RSI).

This script combines short-term RSI momentum behavior with basic candle structure to visualize possible bullish and bearish reaction zones directly on the chart.

How It Works

A fast RSI-based momentum calculation is used to color price bars when short-term momentum reaches extreme levels.

Buy and Sell signals are generated when momentum conditions align with RSI overbought or oversold levels and basic candle direction.

All signals are plotted visually on the chart to support discretionary analysis.

Intended Use

This indicator is not a standalone trading system. It is designed to be used as a supportive analytical tool together with other technical analysis methods such as trend structure, price action, and support/resistance levels.

Dynamic Trendline (Filtered Price Tracking)
The trendline within the indicator uses a calculation structure that smooths and tracks price data. This structure aims to reduce the visual impact of short-term fluctuations and make the overall direction of the price more readable.

The trendline changes color depending on the direction of movement to visually distinguish directional changes. This color difference is for informational purposes only and makes it easier to track the trend direction on the chart.



Dashboard
The dashboard, which can be opened and closed optionally, contains:

The symbol being traded

Time period

Indicator information

The dashboard is for informational purposes only and does not impair the readability of the graph.

Disclaimer

This script does not provide financial advice and does not guarantee any trading results. All trading decisions remain the sole responsibility of the user.

Use this indicator for educational and analytical purposes only.