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RSI đťť™

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RSI đťť™ is a full study system of several RSI analysis that can be used on different timeframes and adapt strategy to trending markets or trading ranges.

Identify better divergences/convergences, alerts for *potential* entry, flat and exit signals. Adapt personal strategy according to the market pace, behaviour and timeframe.

Default Settings:
RSI: 13
Linear Regression of RSI: 34
Signal RSI: 5
Long RSI: 55
RSI đťť™ Histogram: Delta between RSI and Long RSI based on Signal RS 0.31% Length.

Activate Vertical Bar Highlights and/or Signal Flags for:
- RSI Oversold/Overbought. (Default: Highlight Bar)
- Signal RSI Oversold/Overbought. (Default: Highlight Bar)
- RSI crossing its Linear Regression . (Default: Signal Flag)
- RSI crossing its Long RSI . (Default: Off)
- Signal RSI crossing its RSI . (Default: Off)
- Signal RSI crossing its Long RSI . (Default: Off)
- RSI đťť™ Histogram crossing baseline. (Default: Off)

Users can also do extra tunning in Style Section of Format options.

Typical use case for Daily timeframe:
RSI cross its Linear Regression produce a close signal of the on-going trend. RSI đťť™ Histogram crossing could also provide early an signal or a confirmation. Then look RSI or RSI đťť™ Histogram is forming a Divergence. If divergence is confirmed after candle close you can look into Signal RSI crossing RSI/Long RSI or RSI breaking the support/resistance horizontal/trendlines OR if you are more conservative wait until RSI cross Long RSI . The different markets will show slightly diff behaviours but with this indicator, we can capture its essence independently of timeframe.

RSI being above/bellow Long RSI establishes the relatively long-term bias in trending markets. This is also valid for Weekly and Monthly timeframes.

This is just a guideline suggestion. The reality is users of this indicator need to observe the market's behaviour and identify which signals will provide more reliable entries, exits and/or remain until next signals before the next round of trades.

The market behaves differently when pacing changes, volatility changes, when it trends or when it ranges. Develop an understanding of it with the help of this study.

Avoid risking more than 1% per trade. Be responsible for always making a priority about protecting capital and risk management. Develop emotional control and use this RSI study to develop a more complete trading system without any need for extra indicators other than Price and Volume .

👆active signals:
RSI crossing Linear Regression
RSI crossing Long RSI

👆active signals:
Signal RSI Long RSI

👆active signals:
RSI crossing Linear Regression


Also note that RSI đťť™ Histogram divergences/convergences flag very often significant momentum changes. This important information is extremely useful when also looking to volume anomalies and help deciding to close a position (or enter next) before flash crash occur where a signal might come slightly late on higher timeframes.
Versionshinweise:
Corrected one bug in rsi vs signal rsi model and removed linear regression offset option.
Versionshinweise:
Re-organized some options in Settings Dialog and corrected one duplicated setting.

RSI vs Long RSI controller was changing settings to Highlight Bar instead of Signal and vice-versa. Now fixed.

Cosmetic change:
RSI crossing Long RSI is now active by default and show bigger circle signal. (Useful for longer term bias since Longer RSI should act as Support/Resistance RSI during trends)
RSI crossing Linear Regression is now showing smaller circle signal
Versionshinweise:
  • Changed name to RSI Delta for better readability across different font types. Some people couldn't see the delta Symbol.
  • RSI Delta Histogram model is now based on Linear Regression instead of Exponential Moving Average making its baseline crosses more on point on D and 240 TF.
Remember that in case you need a slight cleaner view. You can also hide/unhide Signal RSI or Long RSI in the Style tab of format options dialog.
Versionshinweise:
Removed all Highlight Bar crosses except Oversold/Overbought ones in oder to simplify script and remove redundant visuals.
Changed the wording in checkbox format options
Changed Main RSI line width from 3 to 3.
Changed Cross Signals circle width from 3 to 2.
Histogram now also uses a simple moving average for smoothness instead of linear regression or ema aiming at producing less noise.
Versionshinweise:
Several changes
Added EMA of RSI (now can also be added to the chat with LSMA) -
Changed RSI color changed to be based on its status against EMA instead of LSMA.
Removed SMA
Changed the color scheme of LSMA, EMA and Long RSI.
Signal RSI and RSI's EMA are Disable by default. (you can activate in options)
You can not also show/hide all RSI, allMA and Histogram as you see fit
LSMA and EMA are set default to 21.
Signal and Long RSI are now smoothened.
Versionshinweise:
Signal RSI changed default to 3 since it has smoothness performs better across several timeframes. Specifically oversold/overbought analysis.
Visual bar highlights will reflect changes one RSI 3. As results better warnings will be generated whn both RSI and Signal RSI are in their respective oversold/overbought regions.
Histogram is now inactive by default.
Long RSI is now Yellow and width changed to 3
LSMA of RSI width changed to 3.
Versionshinweise:
Several updates.
Replaced LSMA with Second EMA. Now is Fast and Slow EMA.
Both EMAS form a cloud. Slow EMA forms another cloud with Long RSI.
The cloud represent saturation and support zones.
Once RSI cross and close under/over the Saturation it would suggest to signal a close of previous position. Once RSI breaks the support zone is consider a signal to flip the directional entry. If it bounces from there and get above the saturation and re-entry position.
Versionshinweise:
Code improvements and default settings for EMAs set from 8/13 to 13/21.
Versionshinweise:
Reversed the Cloud colors to Green/Uptrend and Red/Downtrend.
Versionshinweise:
Histogram is now active by default. It's great great tool to spot the "health" of divergences
Versionshinweise:
Histogram is disabled by default.
Default settings are setting to RSI 13, Fast EMA 13, Slow EMA 21.
These settings should offer best equilibrium and visual analysis of RSI.
Use this script in combination with Delta Map

RSI and Hulls ideally should be in agreement.
Versionshinweise:
Added option to choose Source
Adjusted some highlight colors (current color schemes is tuned for dark themes).
Versionshinweise:
Long RSI changed from 55 to 233
Histogram formula changed slightly to provide smoothened results
Histogram is now active by default
Histogram transparency reduced slightly
Versionshinweise:
Long RSI default setting changed back to 55 (from 233). Reduced smoothness to 3 candles instead of 5.
Versionshinweise:
Several changes.
Removed overlay cloud from Long RSI. Now you only see dotted line. (this long RSI acts as an support/resistance)
Default EMA settings set to 21 (fast) and 55 (slow)
Signal RSI is now set to 5.
Extended Overbought/Oversold threshold set to 75/25
RSI line width changed from 4 to 3.
Other slight cosmetic changes related to transparency were made.
Versionshinweise:
Update included with some performance tests since 2017.
Versionshinweise:
Hi there! :)

This is a major into RSI Delta.

The RSI Delta Study system now has embedded scoring system based on Volume and Price Trends as well as RSI. In the options menu you will be able to 3 types of criteria. The top dotted line refers to price trend, the bottom one refers to volume trend and middle one is the rate of the criteria selected.

Note that RSI criteria is not active by default. In some markets you may want to add it to improve performance of the flags.


Red = Short Bias
Amber = Neutral/Flat Bias
Blue = Long Bias

If you have a cluster of 3 dots over 3 or 5 candles the stronger is the case for a trending market. When you start seeing too many conflicting color it means market entered into a consolidation stage likely out of a trading range and potential reversal in the near future.

The scoring system only purpose if to provide guidance. There is no magic formula only discipline and good risk management.

This technical study's goal is to provide an extra edge in analysing the market all in one relatively simple but powerful indicator on top of your favorite RSI study.
Versionshinweise:
Bug fix.
Versionshinweise:
Some cosmetic tweaks in options dialog.
Versionshinweise:
Added the ability to set alarms based on Delta Score condition

If Delta Score is Bullish
If Delta Score is Neutral
If Delta Score is Bearish
Versionshinweise:
Correct some bug that was affecting the scoring.
Versionshinweise:
Several updates to scoring system and cosmetic changes.
Versionshinweise:
improved scoring system and default settings.
Versionshinweise:
Change of default settings to produce better human-interpretation analysis and help scoring system to include RSI with better results.
Versionshinweise:
Added RSIMACD Histogram. Several calculations improvements done and new options added.
Versionshinweise:
Improved calculation of scoring.
Versionshinweise:
fixed a bug rsimacd
Versionshinweise:
RSI and Signal RSI switched to step line.
This change create much better representation of momentum and boundaries of where trendlines and triangles should be placed for basis.
Fast MA is now disabled in order to hide the clouds. This approach allow better visualisation of RSI but also the RSIMACD which offer more utility.
Delta Scoring now using 120/20 MA settings for price and 50 for RSI
Versionshinweise:
Changed default source to HLC3. Some cosmetic changes as well.
Versionshinweise:
Cosmetic update.
Only Delta scoring is now enabled by default placed at the bottom (this can be changed in options)
Versionshinweise:
Improvements made. Signal RSI is now more useful for "quick" trades (on any timeframe) .
Versionshinweise:
performance improvements
Versionshinweise:
Changed Cloud Approach. Pay attention for divergences and U-turns formed by the cloud as well as when they switch color (bullish/bearish trend bias)
Versionshinweise:
tuned some settings.
Versionshinweise:
Signal RSI is now not visible by default (but background highlights are) - You can activate it in options.
This allow better focus on divergences formed by the clouds or simply trade cloud U-turns for quick flip of bias.
Versionshinweise:
Included two new scoring metrics and switched to FLB Base as the default one.

Several changes made to be aligned with the recent major update to Delta Map premium indicator available at
Versionshinweise:
Strategy update. Default settings adjusted to sync better between 4H, D and W timeframes.
Versionshinweise:
code clean & bug fix
Versionshinweise:
Scoring improved
Versionshinweise:
Changes in Oversold/Overbought Highlights. Color scheme now reflect the trend when color start fading away you need to be looking out for potential reversal or price/rsi divergences
Versionshinweise:
Major Update. Simplified and optimized a lot of options and the trend scoring system (with solid backtests).
Added Option ability to switch between Clouds or Expanded Bands
Versionshinweise:
Quick Fix. You can activate/deactivate the Expanded Bands with Cloud now (Cloud not hidden anymore).
Versionshinweise:
Optimized some default settings. You can explore options to tune as you see fit.
Versionshinweise:
Replaced RSI Clouds with a custom RSI Convergence Divergence placed at the baseline similarly like the MACD (which can be disabled in options). After several tests came to the conclusion that the RSICD offer better reliability in terms of trend shift signaling and also more better momentum and divergence analysis. Hope you enjoy the update as much as I do.
Versionshinweise:
improved bands and added some extra options
Versionshinweise:
update. You can now switch between full RSI mode or just the Histogram.
Versionshinweise:
updt - You can now switch between full Delta RSI or Histogram Only Mode
Versionshinweise:
Some changes to Options available. Delta Scoring now default to Delta Bands (you can combine with other two as you see fit)
Versionshinweise:
Removed Delta FLB Scoring in attempt to simply everything.
Now you have total 2 individual strategies that can be combined into a 3rd one.
Delta Bands still the default with solid back test results on multiple mainframes above 4H
Versionshinweise:
Important Update Notes

After publishing this article the following changes were made:

Delta Bands were changed from 14 instead of 21. The reason behind this change is because it offer better setups over time and it makes sense both RSI and the Bands taking data from same number of candles so you can do multi-time-frame analysis with a solid basis and consistency.
The RSI Delta oscillator now has both Bands Scoring and RSI Scoring active by default. By having this scoring included you get to see on chart one more sensitive and this one taking in consideration the health of momentum which can clear your judgment of any doubts about sticking to a current position.
The Ichimoku Cloud in Cloud-Only mode (default) now has a displacement of 1 and full mode 14.

Tutorial: telegra.ph/VSH-RSI-Delta-07-17
Versionshinweise:
Included 3 additional scoring lanes that can be enabled/disabled in options.
- Current timeframe long-trend scoring
- Daily timeframe long-trend scoring
- Weekly timeframe long-trend scoring
Versionshinweise:
visual update to scoring lanes

Main: Current Timeframe Bands (more sensitive)
2n: Curr. TF Bands+Directional Change (Longer trend tolerance)
3rd: Daily TF Bands+DC
4th: Weekly TF Bands+DC
Versionshinweise:
Some final update. This should be last stable update with major change.

You can now activate the scoring for Daily, Weekly and Monthly time frames.
By default the Current time frame and the Daily time-frame scoring are enabled.

The idea behind this update was to reduce the amount of trading signals and that you can have strong basis for direction of trade based on Daily scoring.


The ideal scenario is to trade the 4H mainframe only direction of the Daily. (Also consider sometimes switch to Heikin Ashi Candles)

Taking in consideration bullish and bearish divergences in the histogram (and don't forget to spot if there any hidden ones) are great to time entries before the scoring
Versionshinweise:
Introducing 2-level of Smoothness into the RSI Histogram (change in options to High/Low)
The Histogram has been changed from Area type to Column type by default. This decision make it easier to draw trend-lines limits and easier reading of momentum.
The scoring is not impacted by these changes. However, while doing Histogram analysis it would help you to make decisions before scoring spotting change of trends.
Remember that with popper risk management the Human can always be superior to the algo in decision making due to on-going change of characters in trends that can be easily spotted by humans. Divergences studies and trend-line studies on top of the RSI Histogram can are very powerful.
Versionshinweise:
The scoring lane has been changed to only include Current timeframe AND a Base (Higher) timeframe that is selected in Options menu.

This approach is more flexible and give the chance of FOREX traders or low timeframe traders in general to change the base scoring to 15 or 30 for example if they are trading 1m or 5m charts.
Versionshinweise:
Styling changes:
- RSI Histogram back to Columns as default (instead of Area)
- Standard Oversold/Overbought ranges now emphasized with Horizontal lines
- Oversold/Overbought fills got increased transparency
Versionshinweise:
Added 5minute base HTF scoring to Options. This is useful for those scalping 1m or less and using 5m as base for directional trades.
Versionshinweise:
Re-Introduced Price MA Scoring Strategy. This strategy produce Solid results on 4H and D time-frame at the expense of excessive amount of trades. Likewise divergence analysis is recommended so you can filter some noise. But this strategy trump other 2 if objective is Swing trades.

For position trade Cloud Strategy is best. RSI strategy is good for swings or position.

You should observe the asset you trading which ones are offering solid streaks as well less fake-outs as possible.
Versionshinweise:
Introduction of new strategy, re-introduced Hull strategy.
5 different scoring options. Default: Momentum
Two lanes: Active Time-frame and one above. Intraday -> D -> W -> M - > 4M)
made some visual tweaks into momentum highlights.
default Base Length changed from 14 to 12
Versionshinweise:
update
Versionshinweise:
style update
Versionshinweise:
update
Versionshinweise:
updt
Versionshinweise:
updt
Versionshinweise:
updt
Versionshinweise:
updt
Versionshinweise:
updt
Versionshinweise:
updt
Versionshinweise:
updt
Versionshinweise:
Major Update
Versionshinweise:
Upt.
For simplicity reduce strategy choice to 3 (plus Higher Time-frame ones. A total of 6)
Versionshinweise:
updt
Versionshinweise:
updt
Versionshinweise:
update to price-delta scoring. Now also with neutral/amber code.
Versionshinweise:
some cosmetic update. Into Histogram-Only Mode


Versionshinweise:
With Price-Delta Scoring active by default.
Versionshinweise:
RSI Delta Map now has some Trailing Stops suggestions (2 diff approaches)
Versionshinweise:
updt
Versionshinweise:
RSI-Delta Scoring got some update changes. and is now the default. When Yellow/Amber/Neutral candles/scoring is visible it is suggest to monitor lower timeframe (LTF) since there is disconnect between momentum and price.
Introduced Histogram option to chance color scheme. Base cross is now default for visual clarity.
Versionshinweise:
phased histogram color fix
Versionshinweise:
color fix
Versionshinweise:
updt. according to

now include SD-Cloud scoring.
Versionshinweise:
Several Updates include:
• SD Cloud replaced with Kurutoga Cloud (active by default)
• Bigger dotted lane formerly HTF Lane is now replaced with Kurutoga Cloud scoring as the dominant trend scoring.
• Smaller dotted lane remain as chosen Delta strategy (out of 3 different strategies: RSI-Delta, Price-Delta and RSI-Momentum)
+ Info chart include more descriptive legends.
Versionshinweise:
• Update in Histogram Model and change visual from Columns to Area
• Update in RSI-Delta Scoring model
• Update in Momentum Background Highlight model and removed it from scoring options
• Some cosmetic changes in Oversold/Overbought lines
Versionshinweise:
• Cosmetic and range changes to Over Sold/Bought thresholds.
• RSI line is slightly thicker .
Versionshinweise:
• Histogram MA is now slightly visible in Full mode. Full visibility in Histogram-Only mode.
Versionshinweise:
• Added ability to display HTF RSI on any given timeframe available in options: 15,1h,2h,4h,D,W,M,4M,12M. This is particularly useful when looking into intraday-day and scalps.
• Removed histogram "Phased" color scheme.
Versionshinweise:
• Change in Delta Scoring as result of small smoothness into RSI Histogram.
• Added ability to see Histogram in two modes: Base and Cloud
- Base will plot histogram against the baseline (50% level)
- Cloud will plot histogram against the EMA that forms the bands. This approach is like the popular RSI+.
Now you have the option to place the Histogram as you see please.
Versionshinweise:
• As per feedback Histogram default mode is now made into "Cloud".
• When Cloud Histogram is selected the EMA bands are removed.
Versionshinweise:
• Change to Base (Bigger Dots) scoring.
• Removed Kurutoga Scoring
• Added RSI Scoring
Versionshinweise:
• Color fix.
Versionshinweise:
• Renamed my system to name to DELTA7 and DELTA7 RSI
Versionshinweise:
• Added some optional bands to Histogram-Only mode.
• Default scoring strategy is now Price-Delta (small circles ) and Price-Delta-2 (Bigger circles)
Versionshinweise:
• small bug fix in momentum background highlights.
Versionshinweise:
• fix bug with background highlights
• re-added momentum scoring option (alerts can now be triggered with it)
Versionshinweise:
• Removed Bands since they add too much noise (feature creep)
• Signal RSI is now active by default. Since they provide useful information on W and Monthly time-frames on multiple assets.
Versionshinweise:
• fixed some bug with alerts
Versionshinweise:
• qq fix
Versionshinweise:
• Simplified Options. When in Histogram-Only mode it switches to Base Histogram.
• Ability to Disable RSI Clouds (so you can just see RSI)
• Change to Delta Cloud and Scoring 2
• Some Visual/Cosmetic Tweaks
Versionshinweise:
• Bug fix
• As per user request added Alerts options for bigger circles (DELTA7-2 Scoring)

D7R
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