deepseek Smart RSI

Functions and Uses
Objective Signal Confirmation
This indicator transforms RSI from a subjective judgment tool into a more objective signal confirmation tool.

Reducing False Signals
By using the crossover of RSI_2 and RSI_EMA to confirm trends, it reduces potential false signals that might occur with traditional RSI.

Trading Signal Generation
Buy Signal: RSI_2 crosses above RSI_EMA
Sell Signal: RSI_2 crosses below RSI_EMA
Trend Confirmation: Visually displays the current trend through background colors and candlestick colors
Overbought/Oversold Judgment: Retains the traditional RSI's overbought/oversold area functionality
How to Use
Adding the Indicator
Add this indicator to your chart in TradingView
Parameter Settings
RSI Period 1 (default 14): Main RSI calculation period
RSI Period 2 (default 5): Short period RSI used for signal generation
Exponential Average Period (default 14): RSI_1's EMA period
Overbought/Oversold Values (default 70/30): Traditional RSI overbought/oversold thresholds
Enable Candlestick Trend: Whether to change candlestick colors based on signals
Enable Indicator Background Color: Whether to change background colors based on signals
Signal Interpretation
Green Area (Deep Cyan): Bullish signal, consider buying or holding
Red Area (Magenta): Bearish signal, consider selling or waiting
RSI enters overbought zone (>70): Market may be overheated, watch for potential pullbacks
RSI enters oversold zone (<30): Market may be overcooled, watch for potential rebounds
Setting Alerts
You can set alerts for when RSI_2 crosses RSI_EMA
Use Alt+A shortcut to set alerts
The advantage of this indicator is that it converts subjective judgments into more objective confirmation mechanisms, helping traders avoid making inconsistent decisions due to emotional influences. It's particularly suitable as a confirmation tool for medium to long-term trading strategies.

Versionshinweise

Functions and Uses
Objective Signal Confirmation
This indicator transforms RSI from a subjective judgment tool into a more objective signal confirmation tool.

Reducing False Signals
By using the crossover of RSI_2 and RSI_EMA to confirm trends, it reduces potential false signals that might occur with traditional RSI.

Trading Signal Generation
Buy Signal: RSI_2 crosses above RSI_EMA
Sell Signal: RSI_2 crosses below RSI_EMA
Trend Confirmation: Visually displays the current trend through background colors and candlestick colors
Overbought/Oversold Judgment: Retains the traditional RSI's overbought/oversold area functionality
How to Use
Adding the Indicator
Add this indicator to your chart in TradingView
Parameter Settings
RSI Period 1 (default 14): Main RSI calculation period
RSI Period 2 (default 5): Short period RSI used for signal generation
Exponential Average Period (default 14): RSI_1's EMA period
Overbought/Oversold Values (default 70/30): Traditional RSI overbought/oversold thresholds
Enable Candlestick Trend: Whether to change candlestick colors based on signals
Enable Indicator Background Color: Whether to change background colors based on signals
Signal Interpretation
Green Area (Deep Cyan): Bullish signal, consider buying or holding
Red Area (Magenta): Bearish signal, consider selling or waiting
RSI enters overbought zone (>70): Market may be overheated, watch for potential pullbacks
RSI enters oversold zone (<30): Market may be overcooled, watch for potential rebounds
Setting Alerts
You can set alerts for when RSI_2 crosses RSI_EMA
Use Alt+A shortcut to set alerts
The advantage of this indicator is that it converts subjective judgments into more objective confirmation mechanisms, helping traders avoid making inconsistent decisions due to emotional influences. It's particularly suitable as a confirmation tool for medium to long-term trading strategies.

Versionshinweise

Update the size of buy and sell signals; on larger charts, the signals will be stronger.

Versionshinweise

Update the size of buy and sell signals; on larger charts, the signals will be stronger.