Duyck

RSI direction bias - JD

This simple indicator gives you a bias on the market that can be used as a filter, an entry indicator for pullbacks,...

Enjoy!
JD .

#NotTradingAdvice
#DYOR
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Disclaimer.
I AM NOT A FINANCIAL ADVISOR.
THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY.
ALWAYS DO YOUR OWN RESEARCH!
JD.
A little tip is always nice!
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Kommentare

Thank you for the explanation. Much appreciated. Ken
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Thank you for this indicator version of the RSI. Can you explain what all the different candle colours are for. Many thanks Ken
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Duyck kennairne
@kennairne, My Pleasure!

sure:
- green is above 60 in an uptrend
- yellow is below 60 in an uptrend (possible retracement)

- red is below 40 in a downtrend
- maroon is above 40 in a downtrend (possible retracement)

Gr, JD.
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Great work! Thanks for sharing! Is it possible to have alerts as well?
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I've played around with RSI for months trying various approaches, and this one didn't cross my mind, while it is a perfect one and quite... obvious. Joris, you built amazing stuff!
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Duyck Peter_O
@Peter_O,
yes, I know rsi always gets a lot of lashback for being a suckers indicator, but when used in different way, I feel it does give a lot of relevant info about traders intentions, price movement and momentum.
The difficulty is finding the right way to extract the info.
Thanks for the support!

I think your mtf solution for rsi is still invaluable too!! I use that function everyday in my main script!!



So thank you too! ;-)

Gr, JD.
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Beautiful!
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Duyck fikira
@fikira, thank you!
+1 Antworten
@Duyck Very impressive. It cut the emotion. How to use it effectively....?
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