This is a indicator I built on the basis of RSI and price action. It is the Cappuccino-Indicator. It calculates back the estimated price based on RSI with some optional filters and gives signals for buy and sell.
it works as follows: - the current RSI value is calculated back to a estiamated market price - shoutout to some developers who made some functions possible, this was a long work, I cannot find Your sources anymore, I'm sorry. Text me I will publish Your credits. You are awesome and I respect Your work. - The principle is simple. as suggested by RSI Rookies the market is bullish when in certain RSI Levels, and bearish when in other - This indicator also combines some trend channels for easier spotting good entries - The Cappuccino Indicator tries to keep you in a trade as long as possible - It uses ATR based Trailing SL for you to not get rekt - It is just a piece of software, You're trading on Your own risk
Good work and thank you for sharing, it will help lot of people
davejdt2004
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hi...looks like a good and helpful script. Would it be possible to it coded with "English" outputs as there are labels I cannot read as they are not in English. Thanks
@cgminer997, Ideed it is but not all of the code is mine, consider anything after line 372 as foreign code, and some parts of the core too. I just put it together and gave the code some context. Thanks
GodCof
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What a great tool, keep going men!
djmad
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Nice update, good addition the decimal detector
cappuccino_trading
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@djmad, Will update soon with better version. Thanks