glaz

RSI Candles

Can be used as a 50 level cross by rsi or as overbought/oversold by setting the levels accordingly eg 70/30
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// With levels candle border must be removed for better view  
// By Glaz
study(title="RSI Chart Bars",overlay = true, shorttitle="RSI Bars")
src = close, len = input(14, minval=1, title="Length")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))

//coloring method below

src1 = close, len1 = input(70, minval=1, title="UpLevel")
src2 = close, len2 = input(30, minval=1, title="DownLevel")
isup() => rsi > len1
isdown() => rsi < len2
barcolor(isup() ? green : isdown() ? red : na )
Great indicator! Is there anything that would cause this to be broken or glitchy? I noticed for XAUUSD it works flawlessly, but I tried pulling up EURUSD and GBPUSD and only some bars are shaded — most are left untouched. Do you know of what would cause this?
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glaz hjstephens09
@hjstephens09, don't know, it works fine for me.
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This works really well.
+1 Reply
Hey Glaz, is it possible for you to write a script that automatically identify's Gartley and Harmonic Patterns? Something like this script for MT4 http://www.fx-mt4.info/view-review/zup-v135-harmonic-patterns-indicator . It automatically draws on the chart the pattern as it's forming based on price and Fib levels until the pattern is complete.
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glaz pcmourao
i dont think its possible yet to code that in pince, also zup indie is about 3k lines of code it would take me years to port it here :D
+2 Reply
I have seen this script that determines entry's based on BollingerBands. I think the script is called Bollinger Fan Boy. Isn't it easier, as workaround, to print some kind of signal based on predetermined Fibonacci values and price action apon completion of a pattern? Wouldn't that be easier to make using Pine script language?
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glaz pcmourao
patterns need zigzag and noone has found a way to code it, thats why you dont see any pattern based or channel indicators in pine
+2 Reply
Can't you code it with Fib levels and price?
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Nice Idea Thank You
+1 Reply
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