GoldenBoi Indicator
It's focused more on swing/position trading. Change the settings to find the ideal setup based on your trading style.
Peace.
Peace.
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1st Release.
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Check the strategy version of the script here (www.tradingview.com/...-Indicator-Strategy/) for backtesting purposes.
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Update: Added alerts for long/short signals.
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Visual Updates.
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Not sure why people use this indicator as it is highly underdeveloped & not optimized for anything. The idea behind this indicator was to smooth out the signals from RSI by producing long/short signals based on RSI/EMA of RSI crossovers. I don't have time to improve it but if anyone wants to check the source code, here it is:
//@version=3
study(title="RSI-EMA_GB", shorttitle="RSI-EMA_GB", overlay=true)
src = close
len = input(14, minval=1, title="RSI Length")
len2 = input(14, minval=1, title="EMA of RSI")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
emaRSI = ema(rsi,len2)
// plot(rsi, title="RSI", style=line, linewidth=2, color=aqua)
// plot(emaRSI, title="EMA of RSI", style=line, linewidth=2, color=red)
// band1 = hline(80, title="Overbought", linestyle=dotted, linewidth=1, color=gray)
// band2 = hline(55, title="Bought", linestyle=dotted, linewidth=1, color=gray)
// band3 = hline(45, title="Sold", linestyle=dotted, linewidth=1, color=gray)
// band4 = hline(20, title="Oversold", linestyle=dotted, linewidth=1, color=gray)
// fill(band1, band2, color=aqua, title = "Bullish", transp=90)
// fill(band2, band3, color=white, transp=90)
// fill(band3, band4, color=red, transp=90)
plotshape(crossover(rsi, emaRSI), style=shape.labelup, location=location.belowbar, color=green, transp = 20, text = "Long ", textcolor = white, editable = false)
plotshape(crossunder(rsi, emaRSI), style=shape.labeldown, location=location.abovebar, color=red, transp = 20, text = "Short", textcolor = white, editable = false)
alertcondition(crossover(rsi, emaRSI), title = 'Long Signal', message = 'Long Signal')
alertcondition(crossunder(rsi, emaRSI), title = 'Short Signal', message = 'Short Signal')
//@version=3
study(title="RSI-EMA_GB", shorttitle="RSI-EMA_GB", overlay=true)
src = close
len = input(14, minval=1, title="RSI Length")
len2 = input(14, minval=1, title="EMA of RSI")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
emaRSI = ema(rsi,len2)
// plot(rsi, title="RSI", style=line, linewidth=2, color=aqua)
// plot(emaRSI, title="EMA of RSI", style=line, linewidth=2, color=red)
// band1 = hline(80, title="Overbought", linestyle=dotted, linewidth=1, color=gray)
// band2 = hline(55, title="Bought", linestyle=dotted, linewidth=1, color=gray)
// band3 = hline(45, title="Sold", linestyle=dotted, linewidth=1, color=gray)
// band4 = hline(20, title="Oversold", linestyle=dotted, linewidth=1, color=gray)
// fill(band1, band2, color=aqua, title = "Bullish", transp=90)
// fill(band2, band3, color=white, transp=90)
// fill(band3, band4, color=red, transp=90)
plotshape(crossover(rsi, emaRSI), style=shape.labelup, location=location.belowbar, color=green, transp = 20, text = "Long ", textcolor = white, editable = false)
plotshape(crossunder(rsi, emaRSI), style=shape.labeldown, location=location.abovebar, color=red, transp = 20, text = "Short", textcolor = white, editable = false)
alertcondition(crossover(rsi, emaRSI), title = 'Long Signal', message = 'Long Signal')
alertcondition(crossunder(rsi, emaRSI), title = 'Short Signal', message = 'Short Signal')