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Brykou

RSI median

Brykou Updated   
Oscillators Trend Analysis strength strengthandweakness strengthtrading
65
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oscillator trendanalysis strength strengthandweakness strengthtrading
A RSI implementation tailored for a specific use case.
Instead of using RSI with oversold and overbought values, I use it as a median value.

If the RSI is above 50, the trend is bullish.
If the RSI is below 50, the trend is bearish.

This indicator is customized to help you easily identify market strength/weakness based on which side of the median value the RSI is.
Release Notes:
Upgrade to pinescript 5
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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