Relative Strength Index by RNPThis RSI indicator is similar to other RSI tools but is divided into four distinct zones: 20-30-40 and 60-70-80. In this version, an RSI between 40 and 20 indicates weakness in the stock. When the RSI touches 20, it often signals a potential reversal (U-turn). However, in some cases, the reversal may occur around 30.
Similarly, when the RSI reaches 60, it may indicate the beginning of a bullish phase. The stock might reverse near 70 or 80, so we remain cautious in these zones. This segmentation provides a clearer understanding of market trends and helps in making more informed decisions.
RNP
ATH and Desired Percent from ATH Toggle by RNPSometimes, when analyzing scripts in the daily time frame, it can be challenging to identify the All-Time High (ATH) and calculate the percentage drop from it. Additionally, you may want to determine whether a 30%, 40%, or 50% drop could be a good buying opportunity. Using a scale to calculate these levels can be time-consuming.
This indicator simplifies the process by displaying both the ATH price and the desired percentage price levels from the ATH, making it easier to identify key buying zones.
