OPEN-SOURCE SCRIPT
HARSI RSI Shadow SHORT Strategy M1
HARSI – Heikin Ashi RSI Shadow Indicator
HARSI (Heikin Ashi RSI Shadow) is a momentum-based oscillator that combines the concept of Heikin Ashi smoothing with the Relative Strength Index (RSI) to reduce market noise and highlight short-term trend strength.
Instead of plotting traditional price candles, HARSI transforms RSI values into a zero-centered oscillator (RSI − 50), allowing traders to clearly identify bullish and bearish momentum around the median line. The smoothing mechanism inspired by Heikin Ashi candles helps filter out false signals, making the indicator especially effective on lower timeframes such as M1.
The RSI Shadow reacts quickly to momentum shifts while maintaining smooth transitions, which makes it suitable for scalping and intraday trading. Key threshold levels (such as ±20 and ±30) can be used to detect momentum expansion, exhaustion, and potential continuation setups.
HARSI (Heikin Ashi RSI Shadow) is a momentum-based oscillator that combines the concept of Heikin Ashi smoothing with the Relative Strength Index (RSI) to reduce market noise and highlight short-term trend strength.
Instead of plotting traditional price candles, HARSI transforms RSI values into a zero-centered oscillator (RSI − 50), allowing traders to clearly identify bullish and bearish momentum around the median line. The smoothing mechanism inspired by Heikin Ashi candles helps filter out false signals, making the indicator especially effective on lower timeframes such as M1.
The RSI Shadow reacts quickly to momentum shifts while maintaining smooth transitions, which makes it suitable for scalping and intraday trading. Key threshold levels (such as ±20 and ±30) can be used to detect momentum expansion, exhaustion, and potential continuation setups.
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.
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.