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.
This script was written by, and used with the express permission of, Eduardo Andrade. The purpose of the script is easily determine respective currencies strength and weakness as utilized in The Gold Methodology - Ichimoku.
Tradingview members can use this script to see how each currency pair performed the day before as the reading is based is based upon the...