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Rsi

The document is a script for a Relative Strength Index (RSI) indicator in TradingView, allowing users to customize settings such as RSI length and source. It includes options for calculating divergences and applying various smoothing moving averages, including Bollinger Bands. The script also plots bullish and bearish divergences with alerts for traders based on RSI conditions.

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limoko7589
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56 views3 pages

Rsi

The document is a script for a Relative Strength Index (RSI) indicator in TradingView, allowing users to customize settings such as RSI length and source. It includes options for calculating divergences and applying various smoothing moving averages, including Bollinger Bands. The script also plots bullish and bearish divergences with alerts for traders based on RSI conditions.

Uploaded by

limoko7589
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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//@version=6

indicator(title="Relative Strength Index", shorttitle="RSI", format=format.price,


precision=2, timeframe="", timeframe_gaps=true)

rsiLengthInput = input.int(14, minval=1, title="RSI Length", group="RSI Settings")


rsiSourceInput = input.source(close, "Source", group="RSI Settings")
calculateDivergence = input.bool(false, title="Calculate Divergence", group="RSI
Settings", display = display.data_window, tooltip = "Calculating divergences is
needed in order for divergence alerts to fire.")

change = ta.change(rsiSourceInput)
up = ta.rma(math.max(change, 0), rsiLengthInput)
down = ta.rma(-math.min(change, 0), rsiLengthInput)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))

rsiPlot = plot(rsi, "RSI", color=#7E57C2)


rsiUpperBand = hline(70, "RSI Upper Band", color=#787B86)
midline = hline(50, "RSI Middle Band", color=color.new(#787B86, 50))
rsiLowerBand = hline(30, "RSI Lower Band", color=#787B86)
fill(rsiUpperBand, rsiLowerBand, color=color.rgb(126, 87, 194, 90), title="RSI
Background Fill")
midLinePlot = plot(50, color = na, editable = false, display = display.none)
fill(rsiPlot, midLinePlot, 100, 70, top_color = color.new(color.green, 0),
bottom_color = color.new(color.green, 100), title = "Overbought Gradient Fill")
fill(rsiPlot, midLinePlot, 30, 0, top_color = color.new(color.red, 100),
bottom_color = color.new(color.red, 0), title = "Oversold Gradient Fill")

// Smoothing MA inputs
GRP = "Moving Average"
TT_BB = "Only applies when 'SMA + Bollinger Bands' is selected. Determines the
distance between the SMA and the bands."
maTypeInput = input.string("SMA", "Type", options = ["None", "SMA", "SMA +
Bollinger Bands", "EMA", "SMMA (RMA)", "WMA", "VWMA"], group = GRP, display =
display.data_window)
maLengthInput = input.int(14, "Length", group = GRP, display = display.data_window)
bbMultInput = input.float(2.0, "BB StdDev", minval = 0.001, maxval = 50, step =
0.5, tooltip = TT_BB, group = GRP, display = display.data_window)
var enableMA = maTypeInput != "None"
var isBB = maTypeInput == "SMA + Bollinger Bands"

// Smoothing MA Calculation
ma(source, length, MAtype) =>
switch MAtype
"SMA" => ta.sma(source, length)
"SMA + Bollinger Bands" => ta.sma(source, length)
"EMA" => ta.ema(source, length)
"SMMA (RMA)" => ta.rma(source, length)
"WMA" => ta.wma(source, length)
"VWMA" => ta.vwma(source, length)

// Smoothing MA plots
smoothingMA = enableMA ? ma(rsi, maLengthInput, maTypeInput) : na
smoothingStDev = isBB ? ta.stdev(rsi, maLengthInput) * bbMultInput : na
plot(smoothingMA, "RSI-based MA", color=color.yellow, display = enableMA ?
display.all : display.none)
bbUpperBand = plot(smoothingMA + smoothingStDev, title = "Upper Bollinger Band",
color=color.green, display = isBB ? display.all : display.none)
bbLowerBand = plot(smoothingMA - smoothingStDev, title = "Lower Bollinger Band",
color=color.green, display = isBB ? display.all : display.none)
fill(bbUpperBand, bbLowerBand, color= isBB ? color.new(color.green, 90) : na,
title="Bollinger Bands Background Fill", display = isBB ? display.all :
display.none)

// Divergence
lookbackRight = 5
lookbackLeft = 5
rangeUpper = 60
rangeLower = 5
bearColor = color.red
bullColor = color.green
textColor = color.white
noneColor = color.new(color.white, 100)

_inRange(bool cond) =>


bars = ta.barssince(cond)
rangeLower <= bars and bars <= rangeUpper

plFound = false
phFound = false

bullCond = false
bearCond = false

rsiLBR = rsi[lookbackRight]

if calculateDivergence
//-----------------------------------------------------------------------------
-
// Regular Bullish
// rsi: Higher Low
plFound := not na(ta.pivotlow(rsi, lookbackLeft, lookbackRight))
rsiHL = rsiLBR > ta.valuewhen(plFound, rsiLBR, 1) and _inRange(plFound[1])
// Price: Lower Low
lowLBR = low[lookbackRight]
priceLL = lowLBR < ta.valuewhen(plFound, lowLBR, 1)
bullCond := priceLL and rsiHL and plFound

//-----------------------------------------------------------------------------
-
// Regular Bearish
// rsi: Lower High
phFound := not na(ta.pivothigh(rsi, lookbackLeft, lookbackRight))
rsiLH = rsiLBR < ta.valuewhen(phFound, rsiLBR, 1) and _inRange(phFound[1])
// Price: Higher High
highLBR = high[lookbackRight]
priceHH = highLBR > ta.valuewhen(phFound, highLBR, 1)
bearCond := priceHH and rsiLH and phFound

plot(
plFound ? rsiLBR : na,
offset=-lookbackRight,
title="Regular Bullish",
linewidth=2,
color=(bullCond ? bullColor : noneColor),
display = display.pane
)
plotshape(
bullCond ? rsiLBR : na,
offset=-lookbackRight,
title="Regular Bullish Label",
text=" Bull ",
style=shape.labelup,
location=location.absolute,
color=bullColor,
textcolor=textColor
)

plot(
phFound ? rsiLBR : na,
offset=-lookbackRight,
title="Regular Bearish",
linewidth=2,
color=(bearCond ? bearColor : noneColor),
display = display.pane
)

plotshape(
bearCond ? rsiLBR : na,
offset=-lookbackRight,
title="Regular Bearish Label",
text=" Bear ",
style=shape.labeldown,
location=location.absolute,
color=bearColor,
textcolor=textColor
)

alertcondition(bullCond, title='Regular Bullish Divergence', message="Found a new


Regular Bullish Divergence, `Pivot Lookback Right` number of bars to the left of
the current bar.")
alertcondition(bearCond, title='Regular Bearish Divergence', message='Found a new
Regular Bearish Divergence, `Pivot Lookback Right` number of bars to the left of
the current bar.')

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