Stochastic Momentum Index (SMI) or Stoch MTM is used to find oversold and overbought zones. It also helps to figureout whether to enter short trade or long trade.
Red Shade in the Top indicates that the stock is oversold and the Green shade in the bottom indicates overbought.
Enter Long once the Overbought Zone ended and there's a crossover...
Make this version of the famous WaveTrend indicator has the following characteristics:
- WaveTrend direction detection
- Customizable overbought and oversold level (set by default just like the original version)
- Possibility to modify the length of the channel (set by default same as the original version)
- Possibility of modifying mobile period (set by default...
This study implements a simply scalping using the RSI (calculated on two periods), the slopes of two MAs (EMA or SMA) having different lengths (by default, I use 50 and 200).
A take profit (%) and a trailing stop loss (%) are used.
.) Fast MA > Slow MA and Price > Slow MA and RSI < Oversold Threshold ------> go Long
.) Fast MA < Slow MA and...
RSI is a momentum indicator, however most people seem to be using it to go against the momentum by trying to identify tops/bottoms using it. Its in my opinion the wrong way to be using it. It can be easily used for trend following which seems like a better use for it.
Uptrend - RSI > 60
Downtrend - RSI < 40
Sideways - RSI between 40 and 60
If however not...
The Dynamic RSI indicator is a kind of exponential RSI. The overbought and oversold levels (respectively HiLine and LoLine) are calculated according to the recent highest and lowest values of the Dynamic RSI line.
This is an implementation of the Stochastic Momentum Index from William Blau's his article in Stocks & Commodities .
This also allows the use of various different kinds of moving averages for the signal line. Options for this argument are:
sma (simple moving average)
ema (exponential moving average)
wma (weighted moving average)
There are many indicators of overbought/oversold conditions out there. Some of more common ones are:
- Bollinger Bands %B
- Money Flow Index (MFI)
- Relative Strength Index (RSI)
This script uses a combination of these 4 oscillators to confirm overbought/oversold and filter the signals of market reverse which could be used for trading binary...
I took a concept similar to the "Adaptive RSI" to get the RSI overlaid on a price chart. The problem I have with the Adaptive RSI is to me it sticks too closely to price. I wanted something much more visually helpful that can provide actual tradable signals and strategies.
The orange line you are seeing is the "RSI Trend Line"
The further the RSI moves away...
Laguerre RSI (Self Adjusting Alpha with Fractals Energy) indicator script. I adopted idea from www.prorealcode.com and
If you disable `Apply Fractals Energy` option, you will get the original Laguerre RSI.
Union of three RSI indicators: 1h, 4h and daily. In order to show 1h RSI, you have to set it as active time frame on the chart.
Purpose: spot "triple oversold" moments, where all the three RSI are under the threshold, which is 30 by default but editable.
Target Market: Cryptocurrencies. Didn't try it on other ones, may work as well. Fits Crypto well as, by...
I have used this indicator to find many lucrative opportunities. This indicator takes the moving average of CCI in custom, volatility-specific conditions. CCI measures "overbought" in the red-shaded region and "Oversold" in the green-shaded region. The shaded regions do not constitute a buy/sell signal alone, the MS CCI Squeeze is best used when market...
This is the Matrix oscillator made by glaz. So credit goes to him.
I made some minor modifications to it:
1. added a zeroline
2. added 3 options to color bars/candles depending on:
- if the oscillator is above/below 0
- if it's oversold/bought*
- if the matrix has a green bar or a red
That's all :)
This is a better, cleaner version (in my opinion) of an part of an indicator I was using that was coded up by cI8DH. I reached out to him about cleaning up the code (things weren't working) for Pinescript v4, but he no longer seems to be active, so I thought I might take it upon myself to at least work out this portion of the indicator.
Much credit goes to him....