OPEN-SOURCE SCRIPT
RMI Trend Sniper
Aktualisiert
The "RMI Trend Sniper" is a powerful trend-following indicator designed to help traders identify potential buy and sell signals in the market.
It combines elements of the Relative Strength Index (RSI) and the Money Flow Index (MFI) to provide a comprehensive view of market momentum and strength.
🔷Key Features:
🔹Customizable Settings: Tailor the indicator to your trading preferences with customizable input parameters, including RSI and MFI lengths, threshold levels, and visual settings.
🔹Momentum Signals: The indicator generates clear bullish and bearish momentum signals, allowing you to spot potential trend reversals or continuations.
🔹The positive condition considers the previous RMI value, current RMI value, and positive change in the 5-period exponential moving average (EMA) of the closing price.
🔹The negative condition looks at the current RMI value and negative change in the 5-period EMA.
🔹Visual Bands: Visualize market volatility with dynamically plotted bands around the Range Weighted Moving Average (RWMA), providing insights into potential price fluctuations.
🔹Candlestick Coloring: Easily identify bullish and bearish conditions with color-coded candlesticks, helping you make informed trading decisions.
The "RMI Trend Sniper" is a versatile tool suitable for traders of all experience levels. Whether you are a novice or an experienced trader, this indicator can help you enhance your technical analysis and improve your trading strategies.
It combines elements of the Relative Strength Index (RSI) and the Money Flow Index (MFI) to provide a comprehensive view of market momentum and strength.
🔷Key Features:
🔹Customizable Settings: Tailor the indicator to your trading preferences with customizable input parameters, including RSI and MFI lengths, threshold levels, and visual settings.
🔹Momentum Signals: The indicator generates clear bullish and bearish momentum signals, allowing you to spot potential trend reversals or continuations.
🔹The positive condition considers the previous RMI value, current RMI value, and positive change in the 5-period exponential moving average (EMA) of the closing price.
🔹The negative condition looks at the current RMI value and negative change in the 5-period EMA.
🔹Visual Bands: Visualize market volatility with dynamically plotted bands around the Range Weighted Moving Average (RWMA), providing insights into potential price fluctuations.
🔹Candlestick Coloring: Easily identify bullish and bearish conditions with color-coded candlesticks, helping you make informed trading decisions.
The "RMI Trend Sniper" is a versatile tool suitable for traders of all experience levels. Whether you are a novice or an experienced trader, this indicator can help you enhance your technical analysis and improve your trading strategies.
Versionshinweise
Minor code changeVersionshinweise
Alerts Added .Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Haftungsausschluss
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