Quick Response Indicator with Moving Averages

gestern

//version=5
indicator("Quick Response Indicator with Moving Averages", overlay=true)

// RSI Ayarları
rsiLength = input.int(14, title="RSI Length")
rsiOverbought = input.int(70, title="RSI Overbought Level")
rsiOversold = input.int(30, title="RSI Oversold Level")
rsiSource = input.source(close, title="RSI Source")

// Hareketli Ortalamalar (SMA ve EMA) Ayarları
smaLength = input.int(50, title="SMA Length")
emaLength = input.int(9, title="EMA Length")
smaSource = input.source(close, title="SMA Source")
emaSource = input.source(close, title="EMA Source")

// RSI Hesaplaması
rsiValue = ta.rsi(rsiSource, rsiLength)

// SMA ve EMA Hesaplamaları
smaValue = ta.sma(smaSource, smaLength)
emaValue = ta.ema(emaSource, emaLength)

// Al ve Sat sinyalleri
longSignal = rsiValue < rsiOversold and close > emaValue
shortSignal = rsiValue > rsiOverbought and close < emaValue

// Long ve Short sinyalleri için uyarılar
alertcondition(longSignal, title="Long Signal", message="RSI < Oversold and Close > EMA. Long Signal!")
alertcondition(shortSignal, title="Short Signal", message="RSI > Overbought and Close < EMA. Short Signal!")

// Sinyalleri grafikte gösterme
plotshape(series=longSignal, location=location.belowbar, color=color.green, style=shape.labelup, title="Long Signal", text="Long")
plotshape(series=shortSignal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Short Signal", text="Short")

// SMA ve EMA'yı grafikte gösterme
plot(smaValue, color=color.blue, title="SMA", linewidth=2)
plot(emaValue, color=color.orange, title="EMA", linewidth=2)

// RSI'yı grafikte gösterme
plot(rsiValue, color=color.blue, title="RSI")
hline(rsiOverbought, "Overbought", color=color.red)
hline(rsiOversold, "Oversold", color=color.green)

Key Features:
RSI (Relative Strength Index):

RSI is used to identify overbought or oversold conditions in the market.
When RSI is above 70, it signals overbought conditions, and when RSI is below 30, it indicates oversold conditions.
These levels can help generate trading signals. For example, an oversold condition (RSI < 30) paired with price above EMA may trigger a Long (Buy) signal. Conversely, an overbought condition (RSI > 70) with price below EMA could trigger a Short (Sell) signal.
Moving Averages:

SMA (Simple Moving Average): A 50-period moving average that represents the simple average of the closing prices over a defined period.
EMA (Exponential Moving Average): A 9-period moving average that gives more weight to recent prices, making it more responsive to price changes.
The indicator uses EMA to determine the trend direction, and SMA is used for a longer-term trend indication.
Buy (Long) and Sell (Short) Signals:

Long Signal (Buy): A long signal is generated when RSI is below 30 (oversold) and the current price is above the EMA, indicating a potential upward movement.
Short Signal (Sell): A short signal is generated when RSI is above 70 (overbought) and the current price is below the EMA, indicating a potential downward movement.
Plotting on the Chart:

The SMA, EMA, and RSI are plotted on the chart to give you a visual indication of trend and market conditions.
Long and Short signals are displayed on the chart as green and red arrows, respectively, to help you spot potential entry and exit points quickly.
Alerts:

Alerts are set for Long and Short signals using the alertcondition function. You can use these alerts to notify you when the indicator generates a trade signal.
Advantages of the Indicator:
Quick Response: By combining RSI with EMA and SMA, this indicator allows you to react quickly to market movements and make rapid trading decisions.
Simplified Strategy: The strategy focuses on using moving averages for trend direction and RSI for identifying overbought/oversold conditions, making it ideal for traders who prefer faster results.
Visual Guidance: The clear visual representation of the moving averages, RSI, and trade signals on the chart makes it easy to follow and act on market trends.