xRSI_KDJ_SMA

Usage:
- If the background or KDJ cloud turns green enter a long. Exit and possibly short when it turns red.
- You can wait for confirmation (1 bar close) but the longer you wait the more risk of missing a breakout
- Sometimes less is more (I prefer to hide everything and only show the KDJ cloud)


Background
Red/Green: KDJ divergence
Cloud
Teal: KD (KDJ) as an average
Red/Green: J (KDJ)
* Green = Bullish KDJ divergence
* Red = Bearish KDJ divergence
Lines
Blue: Stoch RSI with Wells Wilders (RSIWW)
Red/Green: SMA 8, 13, 21, 34, 55 as an average
* Green = close is above the SMA55 (uptrending)
* Red = close is below the SMA55 (downtrending)

Arrows
Up Arrow: Oversold (20)
Down Arrow: Overbought (98)
Release Notes: Added alerts

Release Notes: removed sma line
updated colours
fixed a few typos
added alerts
Release Notes: updated colours
fixed a few typos
added alerts

updated screenshot/preview
Remove from Favorite Scripts Add to Favorite Scripts

Comments

@UnknownUnicorn2290579 Hi, how do i finetune this? Can't get it right, mostly losses
Reply
@dpanday, Since having pinescripts pulled offline by TV staff due to having a bitcoin address visible in the comments section of the code I have stopped writing pine scripts. Sorry
Reply
Nice works, appreciated your efforts and generous =D
Reply
Available Alerts:
When the RSI (blue line) crosses over 20 or 98 (feel free to tweak these on lines 63:64):
message='BUY', title='Oversold'
message='SELL', title='Overbought'

When the up and down arrows appear:
title='RSI-BUY', message='RSI-BUY'
title='RSI-SELL', message='RSI-SELL'


Note:
The wider the KDJ cloud the more parabolic the strength/momentum should be in that direction (green vs red).
Reply
will add alerts soon
Reply
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