RSI Trendlines Strategy v1.0

The RSI Trendlines Strategy v1.0 is a technical analysis indicator that applies trendline detection logic directly to the Relative Strength Index (RSI), providing an alternative way to evaluate market momentum. Instead of drawing trendlines on price charts, this tool adapts them to RSI values, allowing traders to track momentum shifts and potential breakout conditions in a structured way.

Core Concept

• Traditional RSI is used mainly to identify overbought and oversold zones.
  
• This indicator enhances RSI by plotting dynamic trendlines on RSI pivot highs and lows.
  
• A break above resistance trendlines may suggest strength continuation, while a break below support trendlines may suggest weakness.
  

Key Features

• Customizable RSI Settings
  
• User-defined RSI length and input source (close, open, high, low, etc.).
  

Trendline Detection on RSI

• Identifies RSI pivot highs/lows using a configurable swing lookback.
  

Supports multiple slope calculation methods:

• ATR-based slope
  
• Standard Deviation-based slope
  
• Linear Regression-based slope
  

Visual Enhancements

• Extended dashed trendlines for better visibility.
  
• Dynamic RSI line coloring based on momentum and RSI zones.
  
• Clear markers for Overbought, Oversold, and Midline levels.
  

Signal Generation

• Alerts when RSI breaks above resistance or below support trendlines.
  
• Conditions include optional RSI level filters (e.g., ignoring buy signals when RSI is already overbought).
  

Usage

• Traders may use this indicator to:
  
• Track RSI momentum with visual trendlines.
  
• Confirm potential breakout signals when price and RSI align.
  
• Monitor RSI structure beyond simple level crossing.
  
• This tool works across all timeframes and instruments supported by TradingView.
  

Important Notes

• This script is provided for educational and analytical purposes only.
  
• It does not guarantee profitability or act as financial advice.
  
• Always use additional confirmation tools and proper risk management.