loxx

Corrected RSI w/ Floating Levels [Loxx]

loxx Updated   
Corrected RSI w/ Floating Levels is an RSI indicator with floating levels that attempts to determine the periods of flat and trending periods

Regular RSI value is also displayed (in order to help to determine a trend) but the main value is the "corrected" value. Usage is simple: possible trend change on a color change. For "trend traders" possible usage of longer periods is advised.

Coloration
  • Regular RSI is shown in yellow
  • Green/Red/Gray line is corrected RSI
  • Gray boundary lines are floating level
  • White dashed line is middle floating level

Included
  • Bar coloring
  • 3 types of signal output options
  • Alerts
  • Loxx's Expanded Source Types
  • Loxx's RSI Variety RSI types
Release Notes:
Small UI fix.
Release Notes:
Removed unused inputs.

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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

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