OPEN-SOURCE SCRIPT
Updated RSI Trend Filter
Identifies market trend using RSI boundary levels. When RSI breaks above the upper line (default 60), the market is considered bullish. When RSI breaks below the lower line (default 40), it is considered bearish. The state is held until the opposite boundary is crossed.
Recommended timeframe: Weekly (1W)
Recommended timeframe: Weekly (1W)
Release Notes
Separated it so that it appears at the bottom of the chart.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.