RSI Linear Regression with ZigZag by zdmre — Indicator by zdmre

linearregression relativestrengthindex zigzagindicator divergence convergence

Both the RSI (Relative Strength Index) and the Linear Regression ( LR ) rank among the most popular momentum indicators used in trading. When used in combination with other technical indicators (ZigZag), both RSI, LR and ZigZag can offer value in validating trade opportunities to optimize your risk management practices.

Here’s a look at how to use RSI, LR and ZigZag (Can be used for divergence patterns.) as part of your trade analysis.

If you have new ideas to improve this indicator then let me know please.

***Use it at your own risk

Release Notes:

Visual optimization.

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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