OPEN-SOURCE SCRIPT
Updated NFCI RSI Indicator (Open Source)
National Financial Condition Index (NFCI) RSI Indicator
*Use on the 1W chart.
NFCI moves approximately inverse to BTC/TOTAL.
Crossover between the inverse NFCI and its EMA provides some signal.
Calculating the RSI of the spread between the NFCI and it's EMA provides cleaner long term signals.
Conditions:
Long - RSI EMA cross above 50
Short - RSI EMA cross below 50
*Use on the 1W chart.
NFCI moves approximately inverse to BTC/TOTAL.
Crossover between the inverse NFCI and its EMA provides some signal.
Calculating the RSI of the spread between the NFCI and it's EMA provides cleaner long term signals.
Conditions:
Long - RSI EMA cross above 50
Short - RSI EMA cross below 50
Release Notes
Updated 4/11/24Open-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.