INVITE-ONLY SCRIPT
RSI Trend Zone Oscillator
//version=6
// Copyright (C) 2024 [ramumaurya]. All Rights Reserved.
// Unauthorized copying, sharing, or distribution of this code is prohibited.
// This script is licensed for personal use only. Redistribution, modification, or resale is not permitted without explicit permission.
- 🕒 **📊 RSI Trend Zone Oscillator — Script Overview 🚀**
---
**🛡️ 1. Script Name:**
**RSI Trend Zone Oscillator**
---
**🎯 2. Purpose:**
- This script enhances the **Relative Strength Index (RSI)** by visually highlighting **bullish** and **bearish trend zones**.
- It helps traders identify **overbought** and **oversold conditions** more effectively while simplifying **trend analysis**.
---
**⚙️ 3. How It Works:**
- 📈 **Stepped RSI Line:** For better clarity and visualization.
- 🟢 **Green Zones:** Indicate **bullish RSI trends**.
- 🔴 **Red Zones:** Highlight **bearish zones**.
---
**📝 4. How to Use:**
- 🟢 Use **green zones** to spot potential **buying opportunities**.
- 🔴 Use **red zones** to identify **selling** or **profit-booking points**.
- 🔄 Pay attention to **crossovers** around **overbought (70)** and **oversold (30)** levels.
---
**✨ 5. Unique Features:**
✅ **Clear trend zone coloring:** Green for bullish, Red for bearish.
✅ **Stepped RSI line:** Ensures precise visualization.
---
**⚠️ 6. Limitations:**
- ⚠️ Best used in combination with other **technical analysis tools**.
- ⚠️ May produce **false signals** during highly **volatile market conditions**.
---
**📚 7. User Guide:**
- 🕒 Works seamlessly across multiple timeframes.
- 📊 Combine with **MACD** and **Volume indicators** for improved accuracy.
---
**📝 8. Disclaimer:**
The script titled **"RSI Trend Zone Oscillator"** has been created in compliance with **TradingView House Rules** and **community guidelines**.
- ✅ It is an **original work** and does not infringe on **intellectual property rights**.
- ✅ The script does not contain **misleading, inappropriate, or harmful content**.
- ✅ It adheres to **ethical coding standards** and includes **clear instructions** for users.
- ✅ **Transparency** is maintained regarding the script's **purpose**, **functionality**, and **limitations**.
⚠️ While every effort has been made to ensure the script functions as intended, **ramumaurya** cannot guarantee **flawless performance** or **suitability for all trading strategies**.
🧠 **Users are advised to exercise due diligence and use the script at their discretion and risk.**
// Copyright (C) 2024 [ramumaurya]. All Rights Reserved.
// Unauthorized copying, sharing, or distribution of this code is prohibited.
// This script is licensed for personal use only. Redistribution, modification, or resale is not permitted without explicit permission.
- 🕒 **📊 RSI Trend Zone Oscillator — Script Overview 🚀**
---
**🛡️ 1. Script Name:**
**RSI Trend Zone Oscillator**
---
**🎯 2. Purpose:**
- This script enhances the **Relative Strength Index (RSI)** by visually highlighting **bullish** and **bearish trend zones**.
- It helps traders identify **overbought** and **oversold conditions** more effectively while simplifying **trend analysis**.
---
**⚙️ 3. How It Works:**
- 📈 **Stepped RSI Line:** For better clarity and visualization.
- 🟢 **Green Zones:** Indicate **bullish RSI trends**.
- 🔴 **Red Zones:** Highlight **bearish zones**.
---
**📝 4. How to Use:**
- 🟢 Use **green zones** to spot potential **buying opportunities**.
- 🔴 Use **red zones** to identify **selling** or **profit-booking points**.
- 🔄 Pay attention to **crossovers** around **overbought (70)** and **oversold (30)** levels.
---
**✨ 5. Unique Features:**
✅ **Clear trend zone coloring:** Green for bullish, Red for bearish.
✅ **Stepped RSI line:** Ensures precise visualization.
---
**⚠️ 6. Limitations:**
- ⚠️ Best used in combination with other **technical analysis tools**.
- ⚠️ May produce **false signals** during highly **volatile market conditions**.
---
**📚 7. User Guide:**
- 🕒 Works seamlessly across multiple timeframes.
- 📊 Combine with **MACD** and **Volume indicators** for improved accuracy.
---
**📝 8. Disclaimer:**
The script titled **"RSI Trend Zone Oscillator"** has been created in compliance with **TradingView House Rules** and **community guidelines**.
- ✅ It is an **original work** and does not infringe on **intellectual property rights**.
- ✅ The script does not contain **misleading, inappropriate, or harmful content**.
- ✅ It adheres to **ethical coding standards** and includes **clear instructions** for users.
- ✅ **Transparency** is maintained regarding the script's **purpose**, **functionality**, and **limitations**.
⚠️ While every effort has been made to ensure the script functions as intended, **ramumaurya** cannot guarantee **flawless performance** or **suitability for all trading strategies**.
🧠 **Users are advised to exercise due diligence and use the script at their discretion and risk.**
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