INVITE-ONLY SCRIPT
CSC RSI Strength
This is going to be a different way to look at the RSI. This is still in development but i want to see what you guys think of this.
Ill be offering this up as a 1 month test run for people to use free. Its not that itll be a paid indicator later on. This is to act as a filter against certain market trends and conditions. Id like to see how you guys use it against Support and Resistance areas and lets see what it plays for you when attempting breakouts.
To get a full detail of what this indicator is doing, check out the video I uploaded for this indicator. If you need a link, just ask.
Comment below showing off your best strategy to use this indicator even if you have to pair it with a secondary one.
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In traditional technical analysis, the Relative Strength Index (RSI) is widely used to assess the magnitude of recent price changes and determine whether a security is overbought or oversold.
RSI values oscillate between 50 and -50, with readings above 30 typically considered overbought and readings below -30 considered oversold.
While RSI provides valuable insights into momentum and potential reversal points, it has certain limitations, particularly in volatile or trending markets.
To address these limitations, the concept of "RSI Strength" is introduced.
RSI Strength is essentially a modified version of the RSI that calculates the amount of strength actually contained or exerted within its most recent move.
Overall, the concept of RSI Strength introduced here offers traders a more nuanced understanding of market dynamics beyond traditional RSI readings on a per candle basis. By taking note of the RSI STRENGTH readings, you can asses if the price movements were enough to shift the market into a new trend, break ranges and previous levels or be a perfect setup for a reversal since the RSI was in its overbought or oversold area and while in that status it breached its 100% of its own strength.
This is a bit of a contest. You guys are the BETA testers and YOU are going to come up with the strategies to use this tool. I already have my own methods. I want to see what YOUVE got to offer.
Ill be offering this up as a 1 month test run for people to use free. Its not that itll be a paid indicator later on. This is to act as a filter against certain market trends and conditions. Id like to see how you guys use it against Support and Resistance areas and lets see what it plays for you when attempting breakouts.
To get a full detail of what this indicator is doing, check out the video I uploaded for this indicator. If you need a link, just ask.
Comment below showing off your best strategy to use this indicator even if you have to pair it with a secondary one.
-----------------------
In traditional technical analysis, the Relative Strength Index (RSI) is widely used to assess the magnitude of recent price changes and determine whether a security is overbought or oversold.
RSI values oscillate between 50 and -50, with readings above 30 typically considered overbought and readings below -30 considered oversold.
While RSI provides valuable insights into momentum and potential reversal points, it has certain limitations, particularly in volatile or trending markets.
To address these limitations, the concept of "RSI Strength" is introduced.
RSI Strength is essentially a modified version of the RSI that calculates the amount of strength actually contained or exerted within its most recent move.
Overall, the concept of RSI Strength introduced here offers traders a more nuanced understanding of market dynamics beyond traditional RSI readings on a per candle basis. By taking note of the RSI STRENGTH readings, you can asses if the price movements were enough to shift the market into a new trend, break ranges and previous levels or be a perfect setup for a reversal since the RSI was in its overbought or oversold area and while in that status it breached its 100% of its own strength.
This is a bit of a contest. You guys are the BETA testers and YOU are going to come up with the strategies to use this tool. I already have my own methods. I want to see what YOUVE got to offer.
僅限邀請腳本
只有經作者批准的使用者才能訪問此腳本。您需要申請並獲得使用權限。該權限通常在付款後授予。如欲了解更多詳情，請依照以下作者的說明操作，或直接聯絡CoffeeshopCrypto。
請注意，此私人、僅限邀請的腳本尚未經過腳本管理員審核，其是否符合社群規範尚無定論。 除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
You have to request use of this script to take part in its development.
提醒：在請求訪問權限之前，請閱讀僅限邀請腳本指南。
Discord = discord.gg/EAncX5TpfB
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
僅限邀請腳本
只有經作者批准的使用者才能訪問此腳本。您需要申請並獲得使用權限。該權限通常在付款後授予。如欲了解更多詳情，請依照以下作者的說明操作，或直接聯絡CoffeeshopCrypto。
請注意，此私人、僅限邀請的腳本尚未經過腳本管理員審核，其是否符合社群規範尚無定論。 除非您完全信任其作者並了解腳本的工作原理，否則TradingView不建議您付費或使用腳本。您也可以在我們的社群腳本中找到免費的開源替代方案。
作者的說明
You have to request use of this script to take part in its development.
提醒：在請求訪問權限之前，請閱讀僅限邀請腳本指南。
Discord = discord.gg/EAncX5TpfB
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。