Relative Strength Index by niftyfifty.in

This is a modified Relative Strength Index (RSI) indicator with added upper (80) and lower (20) bands, along with divergence detection for better trading insights. It enhances the traditional RSI by providing clearer overbought and oversold signals, making it useful for traders looking for strong reversal zones.

📌 Key Features:
✅ Standard RSI Calculation (Default period: 14)
✅ Upper (80) & Lower (20) Bands for better extreme zone identification
✅ Customizable RSI Smoothing Options (SMA, EMA, WMA, VWMA, SMMA, BB)
✅ Divergence Detection (Regular Bullish & Bearish)
✅ Dynamic Background Gradient Fill for Overbought/Oversold Zones
✅ Alerts for Divergences (Bullish & Bearish)

📊 How to Use:
1️⃣ Buy Signals

RSI below 20 (deep oversold) could indicate a potential reversal.
Regular Bullish Divergence (Price forming lower lows, RSI forming higher lows) 🔥
2️⃣ Sell Signals

RSI above 80 (deep overbought) could indicate a pullback.
Regular Bearish Divergence (Price forming higher highs, RSI forming lower highs) 🚨
3️⃣ Trend Confirmation

If RSI stays above 50, market is in an uptrend.
If RSI stays below 50, market is in a downtrend.
⚡ Best Use Cases:
✔ Stock Market Trading (Intraday, Swing, and Positional)
✔ Forex & Crypto Trading
✔ Divergence-Based Reversals
✔ Breakout & Pullback Strategies

🔧 Customization Options:
RSI Length & Source Selection
Choose Moving Average Type for RSI Smoothing
Enable/Disable Bollinger Bands on RSI
Divergence Detection Toggle
🔹 Designed for traders who rely on RSI but want more precision & additional filters to avoid false signals. 🚀