OPEN-SOURCE SCRIPT
Tin Nguyen RSI
This custom indicator is built on the Relative Strength Index (RSI) combined with two moving averages—WMA 9 and EMA 45—to track market momentum and trend direction. It is designed to provide high-clarity insights into price character shifts, specifically identifying extreme overbought/oversold conditions and potential reversal points.
⚙️ Core Components
RSI 14 (Purple Line): The primary momentum oscillator and backbone of the system.
WMA 9 (Green Line): A Weighted Moving Average that smooths the RSI, providing fast-acting signals for short-term shifts.
EMA 45 (Blue Line): An Exponential Moving Average acting as the medium-term "trend axis" for the RSI.
Visual Zones:
Blue shaded ribbons at 60-80 and 20-40 help track the migration of buying and selling pressure.
Background Highlights: Green or Orange backgrounds trigger automatically when RSI hits extreme levels (80 or 20).
🚦 Trading Rules & Discipline
The indicator integrates strict risk management protocols based on systematic trading logic:
Strict No-Trade Zone: When the RSI hits 20 or 80, the background changes color. Discipline: No new entries are permitted at these levels to avoid being trapped in high-volatility "climax" moves or trend exhaustion.
Trend Confirmation:
Bullish: RSI stays above EMA 45, and WMA 9 crosses above EMA 45.
Bearish: RSI stays below EMA 45, and WMA 9 crosses below EMA 45.
Built-in Alerts: Includes automated notifications for RSI crossing 70, dropping below 30, or hitting the 20/80 extremes to ensure timely decision-making.
💻 Application
Timeframes: Optimized for multi-timeframe analysis (Highly effective on M5, H1, and D1).
Markets: Best suited for Bitcoin, Gold, and major Forex pairs.
Note: This tool is for technical analysis support. Always combine with proper capital management and overall market context before executing trades.
⚙️ Core Components
RSI 14 (Purple Line): The primary momentum oscillator and backbone of the system.
WMA 9 (Green Line): A Weighted Moving Average that smooths the RSI, providing fast-acting signals for short-term shifts.
EMA 45 (Blue Line): An Exponential Moving Average acting as the medium-term "trend axis" for the RSI.
Visual Zones:
Blue shaded ribbons at 60-80 and 20-40 help track the migration of buying and selling pressure.
Background Highlights: Green or Orange backgrounds trigger automatically when RSI hits extreme levels (80 or 20).
🚦 Trading Rules & Discipline
The indicator integrates strict risk management protocols based on systematic trading logic:
Strict No-Trade Zone: When the RSI hits 20 or 80, the background changes color. Discipline: No new entries are permitted at these levels to avoid being trapped in high-volatility "climax" moves or trend exhaustion.
Trend Confirmation:
Bullish: RSI stays above EMA 45, and WMA 9 crosses above EMA 45.
Bearish: RSI stays below EMA 45, and WMA 9 crosses below EMA 45.
Built-in Alerts: Includes automated notifications for RSI crossing 70, dropping below 30, or hitting the 20/80 extremes to ensure timely decision-making.
💻 Application
Timeframes: Optimized for multi-timeframe analysis (Highly effective on M5, H1, and D1).
Markets: Best suited for Bitcoin, Gold, and major Forex pairs.
Note: This tool is for technical analysis support. Always combine with proper capital management and overall market context before executing trades.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.