Eddy.Beneteau

RSI Black Wolf [EDDY BENETEAU]

RSI Line on the Candles ... So Simply and Magic ;)
Remove from Favorite Scripts Add to Favorite Scripts
study("RSI Black Wolf [EDDY BENETEAU]", shorttitle="RSI_Black_Wolf", overlay=true)
obLevel = input(70, title="RSI Overbought")
osLevel = input(30, title="RSI Oversold")
length = input(30, title="RSI Length")
src=close
ep = 2 * length - 1
auc = ema( max( src - src[1], 0 ), ep )
adc = ema( max( src[1] - src, 0 ), ep )
x1 = (length - 1) * ( adc * obLevel / (100-obLevel) - auc)
ub = iff( x1 >= 0, src + x1, src + x1 * (100-obLevel)/obLevel )
x2 = (length - 1) * ( adc * osLevel / (100-osLevel) - auc)
lb = iff( x2 >= 0, src + x2, src + x2 * (100-osLevel)/osLevel )

plot( avg(ub, lb), title="RSI Midline", color=gray, linewidth=1)
how do you trade this? When price crosses or counter-move?
Reply
Do you use the default settings also for 60 min timeframe?
Reply
Eddy.Beneteau andreas73
i made it for the 15 minuts but sometime used in 1 hour too
Probably need a very short modification but it's work very well.
Reply
andreas73 Eddy.Beneteau
what would you change for 60min?
Reply
It looks very good
Thank you for sharing
Reply
Eddy.Beneteau andreas73
thanks :)
Reply
Its another version of the RSI by Giorgos-Siligardos
Reply
but your is close to the market line , my BlackWolf take the opposit way and come cut the market at the last time as possible ;)
Reply
I have played it works well on US ETF's too
Reply
Looks good were you able to backtest it?
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out