OPEN-SOURCE SCRIPT
RSI with Bullish/ Bearish Zones by VKK
Disclaimer: Script is not suggesting any buy or sell any stock. It's a visual identification of the direction of the current state of the stock.
This script is a modified Relative Strength Index (RSI) designed to help traders filter out market noise by identifying three distinct momentum phases. Instead of the traditional 70/30 approach, this version uses the 40 and 60 levels to define a "Neutral/Caution" zone.
Key Features:
🟢 Bullish Zone (Above 60): Indicates strong upward momentum. The RSI line turns green, signaling a potential trend continuation.
🟠 Caution Zone (40–60): A neutral "no-man's land" where the market is often consolidating or undecided. The line turns orange, warning traders to be patient.
🔴 Bearish Zone (Below 40): Indicates strong downward momentum. The RSI line turns red, signaling a potential downtrend.
⚖️ Midline (50): A blue or your color choice dotted line acts as the ultimate pivot point between buyers and sellers.
🔥 Extremes (70/30): Classic Overbought (Red) and Oversold (Green) levels are included for mean-reversion context.
How to Use:
Trend Confirmation: Look for the RSI to sustain a position above 60 for longs or below 40 for shorts.
Filter Noise: Avoid entering aggressive trend trades when the RSI is stuck in the Orange Caution Zone.
Real-time Status: The dynamic label on the right provides an instant reading of the current market state and exact RSI value.
This script is a modified Relative Strength Index (RSI) designed to help traders filter out market noise by identifying three distinct momentum phases. Instead of the traditional 70/30 approach, this version uses the 40 and 60 levels to define a "Neutral/Caution" zone.
Key Features:
🟢 Bullish Zone (Above 60): Indicates strong upward momentum. The RSI line turns green, signaling a potential trend continuation.
🟠 Caution Zone (40–60): A neutral "no-man's land" where the market is often consolidating or undecided. The line turns orange, warning traders to be patient.
🔴 Bearish Zone (Below 40): Indicates strong downward momentum. The RSI line turns red, signaling a potential downtrend.
⚖️ Midline (50): A blue or your color choice dotted line acts as the ultimate pivot point between buyers and sellers.
🔥 Extremes (70/30): Classic Overbought (Red) and Oversold (Green) levels are included for mean-reversion context.
How to Use:
Trend Confirmation: Look for the RSI to sustain a position above 60 for longs or below 40 for shorts.
Filter Noise: Avoid entering aggressive trend trades when the RSI is stuck in the Orange Caution Zone.
Real-time Status: The dynamic label on the right provides an instant reading of the current market state and exact RSI value.
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免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。