Bogdan Ciocoiu - Coordinator

Description
The Coordinator is an indicator developed on the back of the RSI algorithm, modified substantially to form a cloud. In addition, the Coordinator uses EMA/SMA to compare the location of the RSI cloud with the chosen moving averages (EMA vs SMA).

This indicator is helpful as it confirms when a trader should enter a position or exit based on the proximity of the RSI cloud to the relevant MA.

Uniqueness
The Coordinator provides unique benefits, including:

It shows the strength of the RSI in the shape of the RSI cloud, using two sets of dimensions (one more long term and one more short-term oriented).
It indicates the positioning of the RSI cloud in conjunction with the relevant moving averages to help traders remain in positions for longer.
It shows the RSI 14 (useful when spotting divergences aligned with the price action).

Open-source
The Coordinator uses the following open-source scripts:

tradingview.com/scripts/relativestrengthindex/

Release Notes

This revision corrects a bug revealed by David, one of our members. The bug was related to the printing of circles/triangles.

Release Notes

Removed the individual RSI as the interface became too congested.

Release Notes

The default variables have been changed to support new joiners.

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.

For quick access on a chart, add this script to your favorites — learn more here.

BogdanCiocoiu

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

For quick access on a chart, add this script to your favorites — learn more here.

BogdanCiocoiu