OPEN-SOURCE SCRIPT
Updated Multiple Timeframe Heikin Ashi Enhanced RSI by quantsnaz
The Multiple Timeframe Heikin Ashi Enhanced RSI indicator combines Heikin Ashi candle patterns and a combined timeframe data approach to the Relative Strength Index (RSI), providing clear entry/exit signals, capturing strong trends with enhanced accuracy.
Entry Conditions:
Condition #1: RSI crosses above the midline, signaling potential upward momentum.
Condition #2: RSI crosses above its moving average, indicating a strengthening trend.
Exit Conditions:
Condition #1: RSI crosses below the midline, suggesting a shift toward downward momentum.
Condition #2: RSI crosses below its moving average, signaling a weakening trend.
Entry Conditions:
Condition #1: RSI crosses above the midline, signaling potential upward momentum.
Condition #2: RSI crosses above its moving average, indicating a strengthening trend.
Exit Conditions:
Condition #1: RSI crosses below the midline, suggesting a shift toward downward momentum.
Condition #2: RSI crosses below its moving average, signaling a weakening trend.
Release Notes
The Multiple Timeframe Heikin Ashi Enhanced RSI indicator combines Heikin Ashi candle patterns and a combined timeframe data approach to the Relative Strength Index (RSI), providing clear entry/exit signals, capturing strong trends with enhanced accuracy.Entry Conditions:
Condition #1: RSI crosses above the midline, signaling potential upward momentum.
Condition #2: RSI crosses above its moving average, indicating a strengthening trend.
Exit Conditions:
Condition #1: RSI crosses below the midline, suggesting a shift toward downward momentum.
Condition #2: RSI crosses below its moving average, signaling a weakening trend.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.