RSI Candlestick Trend SuiteRSI Candlestick Trend Suite
This indicator presents the Relative Strength Index (RSI) as candlesticks instead of a traditional line, providing a different perspective on momentum behavior and trend development.
The script combines several RSI-based analytical tools into a single oscillator panel:
• RSI Candlestick Visualization
* Displays RSI values as candle structures.
* Highlights momentum expansion and contraction.
* Improves visibility of short-term RSI direction changes.
• Moving Average Overlay
* Supports SMA, EMA, WMA, VWMA, and SMMA (RMA).
* Can be used to identify RSI trend direction and momentum shifts.
• Bollinger Bands on RSI
* Optional Bollinger Bands calculated directly from RSI values.
* Adjustable standard deviation multiplier.
* Optional filled band visualization.
• RSI-Based Supertrend
* Applies a Supertrend calculation to RSI candle data rather than price.
* Helps identify momentum trend changes within the oscillator.
* Customizable ATR length and multiplier settings.
• Buy and Sell Markers
* Optional signals generated when the RSI Supertrend changes direction.
This indicator is designed to assist with momentum analysis, trend identification, and RSI-based market structure observation. It may be used alongside other forms of technical analysis and risk management techniques.
The script is intended for educational and analytical purposes only and should not be considered financial advice.
Short Description
RSI candlestick visualization with moving averages, optional Bollinger Bands, and an RSI-based Supertrend for momentum and trend analysis.
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