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Cyclic RSI High Low With Noise Filter

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█ OVERVIEW
This indicator displays Cyclic Relative Strength Index based on Decoding the Hidden Market Rhythm, Part 1 written by Lars von Thienen.
To determine true or false for Overbought / Oversold are unnecessary, therefore these should be either strong or weak.
Noise for weak Overbought / Oversold can be filtered, especially for smaller timeframe.

█ FEATURES

Display calculated Cyclic Relative Strength Index.
Zigzag high low based on Cyclic Relative Strength Index.
Able to filter noise for high low.

█ LEGENDS
◍ Weak Overbought / Oversold
OB ▼ = Strong Overbought
OS ▲ = Strong Oversold

█ USAGE / TIPS

Recommend to be used for Harmonic Patterns such as XABCD and ABCD.
Condition 1 (XABCD) : When ▼ and ▲ exist side by side, usually this outline XA, while the next two ◍ can be BC.
Condition 2 (ABCD) : When ▼ and ▲ exist side by side, usually this outline AB, while the next one ◍ can be BC, strong ABCD.
Condition 3 (ABCD) : When ▼ or ▲ exist at Point A, the next two ◍ can be Point B and Point C, medium ABCD.
Condition 4 (ABCD) : When ◍ exist at Point a, the next two ◍ can be Point b and Point c, weak ABCD usually used as lower case as abcd.

█ CREDITS
LoneSomeTheBlue
WhenToTrade

發布通知

Remove hline(0) and hline(100) for better visibility.

發布通知

Add switch for RSI and Cyclic RSI.
Update name for input.
Add option for noise label.
Add credits into comment.

發布通知

Add Collapsible code sections for line 13, 24, 34, 39, 52, 77, 90 and 128

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Add alert.