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s3raphic333
2024年4月7日晚上6點56分

RSI Overbought/Oversold [Overlay Highlighter] 

Bitcoin / United States DollarCoinbase

描述

Indicator to show when the RSI is in oversold(Below 30) or overbought (Above 70) conditions. The background color of the chart changes colors in the areas where the above conditions are met.

Price can often reverse in these areas. However, this depends on the strength of the trend and price may continue higher or lower in the direction of the overall trend.

Divergence has been added to aid the user in timing reversals. Divergences are plotted by circles above or below the candles. Divergence is confirmed so there is a delay of one candle before the signal is given on the previous candle. Again, everything depends on the strength of the trend so use proper risk management.

Once the RSI has entered into oversold/overbought conditions, it is recommended to wait for divergence before entering into the trade near areas of support or resistance. It is recommended to utilize this strategy on the H4 timeframe, however, this particular strategy works on all timeframes.

This indicator is a modified version of seoco's RSI Overbought/Oversold + Divergence Indicator. The user interface has been refined, is now overlayed on the chart, and my own divergence code has been inserted.





發布通知

Refined table

  • adjusted table locations
  • adjusted color to change based on oversold/overbought conditions


Added lines

  • lines will be plotted where rsi divergence signals
  • alert condition for deviation of lines


Cleaned up UI
評論
tradingmore777
Nice one
s3raphic333
@tradingmore777, thank you.
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