OPEN-SOURCE SCRIPT
Updated DEMARSI
This is little tricky indicator but you need to understand how its work in order to make it easy to understand
The black line is DEMA RSI hybrid which is made on the MTF length that is not repainting.
The green and red zones are also DEMA RSI that is calculated in different way (the cross between the fast and the slow moving create the color change and the signal.
you can buy or sell using the signals shown (no alerts given) but it easy to add. the since the first MTF DEMA RSI is slower the the other ones we can use it as base . so lets say you enter in green and the second DEMA is still above the black line the trend is still forward and even if you get sell signal you still can hold the coin as it expected to rise further . on the other hand once you get sell signal in red and its fall down bellow black line then it the true end of the buy period. you need to find best condition for your purpose which mean to play with setting (here I put 240 MTF over rsiDEma kegth 21) , other options can be better (did not test it).
here without the cross signals of dema rsi 2
here with MTF 120
The black line is DEMA RSI hybrid which is made on the MTF length that is not repainting.
The green and red zones are also DEMA RSI that is calculated in different way (the cross between the fast and the slow moving create the color change and the signal.
you can buy or sell using the signals shown (no alerts given) but it easy to add. the since the first MTF DEMA RSI is slower the the other ones we can use it as base . so lets say you enter in green and the second DEMA is still above the black line the trend is still forward and even if you get sell signal you still can hold the coin as it expected to rise further . on the other hand once you get sell signal in red and its fall down bellow black line then it the true end of the buy period. you need to find best condition for your purpose which mean to play with setting (here I put 240 MTF over rsiDEma kegth 21) , other options can be better (did not test it).
here without the cross signals of dema rsi 2
here with MTF 120
Release Notes
so I add buy and sell alerts on the crossing, I think by increasing MTF to 720 it may work better on 30 min graph but did not tested it Release Notes
I highlight the cross of the two different demarsi 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.
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.