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 open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.