OPEN-SOURCE SCRIPT
Updated RCI Ribbon
A professional triple-period RCI (Rank Correlation Index) indicator designed to identify strong trends and filter market noise.
- Triple Cycles: Tracks Short (9), Mid (26), and Long (52) momentum.
- Trend Cloud: A visual ribbon showing the dominant market bias.
- Momentum Highlights: Background colors trigger during high-conviction moves (RCI > 85 or < -85).
Release Notes
A professional triple-period RCI (Rank Correlation Index) indicator designed to identify strong trends and filter market noise.- Triple Cycles: Tracks Short (9), Mid (26), and Long (52) momentum.
- Trend Cloud: A visual ribbon showing the dominant market bias.
- Momentum Highlights: Background colors trigger during high-conviction moves (RCI > 85 or < -85).
Release Notes
RCI Ribbon Change Summary- Added selectable timeframe and price source inputs.
- Improved multi-timeframe RCI calculations by calculating each RCI directly within the selected timeframe.
- Organized RCI length and color settings for easier configuration.
- Added customizable colors for uptrend and downtrend conditions.
- Added four alert conditions for RCI zero-line crosses and ribbon trend changes.
- Removed divergence and background signals to keep the indicator simple and focused.
Release Notes
Clean codeOpen-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.