OPEN-SOURCE SCRIPT
Updated Low-High RSI
It is an RSI indicator with 3 lines (or 4 if you enable the original RSI in settings):
You can also select different moving averages for RSI calculation. (The default is the original RMA)
This indicator is useful for e.g. to filter out original RSI's false signals by waiting both low and high lines to confirm. Or you can use it as an earlier exit indicator.
Please write a comment if you find another usage of it.
- The lime is calculated from high
- The fuchsia is calculated from low
- The orange one is calcuated form both high and low, by calculating RSI's up from high and down from low
You can also select different moving averages for RSI calculation. (The default is the original RMA)
This indicator is useful for e.g. to filter out original RSI's false signals by waiting both low and high lines to confirm. Or you can use it as an earlier exit indicator.
Please write a comment if you find another usage of it.
Release Notes
Added RSI HL to the linesOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.