OPEN-SOURCE SCRIPT
DV-RSI
Description:
DV-RSI is an advanced momentum indicator evolved from the traditional RSI, designed to overcome the limitations of fixed 70/30 levels in varying market volatility conditions.
Key Features:
Dynamic Bands: Instead of relying on rigid 70/30 levels, this indicator uses Standard Deviation combined with a Volatility Ratio to automatically expand and contract the bands. This helps prevent false signals and getting "trapped" during strong trends.
Volatility Adjustment: Integrates ATR (Average True Range) to measure market rhythm, allowing the indicator to respond more flexibly to liquidity sweeps and sudden market moves.
Multi-Timeframe Compatible: Works effectively across all timeframes, from M1 (Scalping) to higher timeframes.
How to use:
Overbought/Oversold signals are identified when the RSI touches the upper or lower dynamic bands.
Recommendation: Combine this indicator with Price Action (candlestick patterns) to confirm entry points.
Should not be used as a standalone signal. Please use it in conjunction with market structure analysis.
Disclaimer:
This indicator is for informational purposes only and is intended to support technical analysis. It is not financial investment advice. All trading decisions are the sole responsibility of the user.
DV-RSI is an advanced momentum indicator evolved from the traditional RSI, designed to overcome the limitations of fixed 70/30 levels in varying market volatility conditions.
Key Features:
Dynamic Bands: Instead of relying on rigid 70/30 levels, this indicator uses Standard Deviation combined with a Volatility Ratio to automatically expand and contract the bands. This helps prevent false signals and getting "trapped" during strong trends.
Volatility Adjustment: Integrates ATR (Average True Range) to measure market rhythm, allowing the indicator to respond more flexibly to liquidity sweeps and sudden market moves.
Multi-Timeframe Compatible: Works effectively across all timeframes, from M1 (Scalping) to higher timeframes.
How to use:
Overbought/Oversold signals are identified when the RSI touches the upper or lower dynamic bands.
Recommendation: Combine this indicator with Price Action (candlestick patterns) to confirm entry points.
Should not be used as a standalone signal. Please use it in conjunction with market structure analysis.
Disclaimer:
This indicator is for informational purposes only and is intended to support technical analysis. It is not financial investment advice. All trading decisions are the sole responsibility of the user.
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.