QuantitativeExhaustion

[RS][JR]RSI Ribbon + Candle

RSI Ribbon + Candle
By Ricardo Santos and JR

In this chart rendering we are combining RSI and Moving Averages. For an added features we included colors to the candles and ribbons. Lime and green displays a strong bullish trend , yellow is caution or no trade, red and maroon are bearish trends. You can also find divergences using the ribbon.

Divergence

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study(title="[RS][JR]RSI Ribbon + Candle", shorttitle="[RS][JR]RSI.MA", overlay=false)

//  ||-----------------------------------------------------------
//  ||---   Inputs:
//  ||-----------------------------------------------------------
src = input(defval=close, type=source, title="RSI Source:")
fast_rsi_length = input(defval=14, minval=1, title="Fast RSI Period Length:")
ma_length_scalar = input(defval=2, minval=1, title="MA Period Length Incremental Scalar:")
exponential = input(true, title="Exponential MA Set 1?")
//  ||-----------------------------------------------------------
//  ||---   RSI MA Function:
//  ||-----------------------------------------------------------
isExpMA(isExp, src, length) => isExp ? ema(src, length) : sma(src, length)
//  ||-----------------------------------------------------------
//  ||---   RSI MA Function:
//  ||-----------------------------------------------------------
rsiMA_barColor(tpower) =>
        tpower >= 10 and tpower < 20 ? green :
        tpower >= 4 and tpower < 10 ? lime :
        tpower >= -4 and tpower < 4 ? yellow :
        tpower <= -4 and tpower > -10 ? red :
        tpower <= -10 and tpower > -20 ? maroon : na
//  ||-----------------------------------------------------------
//  ||---   RSI MA Trend Line Strength Function:
//  ||-----------------------------------------------------------
maRank(ma, maRef1, maRef2) => 
              change(ma)>=0 and maRef1>maRef2 ? +1
            : change(ma)<0  and maRef1>maRef2 ? -1
            : change(ma)<=0 and maRef1<maRef2 ? -2
            : change(ma)>=0 and maRef1<maRef2 ? +2
            : 0//  ||-----------------------------------------------------------
//  ||-----------------------------------------------------------
//  ||---   Usage:
//  ||---   barcolor(rsiMA_barColor(true, rsi(close, 14), 30, 50))
//  ||-----------------------------------------------------------
//  ||-----------------------------------------------------------
//  ||---   RSI Basis:
//  ||-----------------------------------------------------------
fast_rsi = rsi(src, fast_rsi_length)

plot(fast_rsi, color=black)
//  ||-----------------------------------------------------------
//  ||---   MA's:
//  ||-----------------------------------------------------------

src0 = (fast_rsi)

ma01 = isExpMA(exponential, fast_rsi, ma_length_scalar)
ma02 = isExpMA(exponential, fast_rsi, ma_length_scalar*2)
ma03 = isExpMA(exponential, fast_rsi, ma_length_scalar*4)
ma04 = isExpMA(exponential, fast_rsi, ma_length_scalar*8)
ma05 = isExpMA(exponential, fast_rsi, ma_length_scalar*16)
ma06 = isExpMA(exponential, fast_rsi, ma_length_scalar*32)
ma07 = isExpMA(exponential, fast_rsi, ma_length_scalar*64)
ma08 = isExpMA(exponential, fast_rsi, ma_length_scalar*128)
ma09 = isExpMA(exponential, fast_rsi, ma_length_scalar*256)


maColor(ma, maRef) => 
              change(ma)>=0 and ma02>maRef ? lime
            : change(ma)<0  and ma02>maRef ? red
            : change(ma)<=0 and ma02<maRef ? maroon
            : change(ma)>=0 and ma02<maRef ? green
            : gray
            
plot( ma01, color=maColor(ma01,ma09), style=line, title="MMA05", linewidth=1)
plot( ma02, color=maColor(ma02,ma09), style=line, title="MMA30", linewidth=2)
plot( ma03, color=maColor(ma03,ma09), style=line, title="MMA50", linewidth=3)
plot( ma04, color=maColor(ma04,ma09), style=line, title="MMA70", linewidth=4)
plot( ma05, color=maColor(ma05,ma09), style=line, title="MMA90", linewidth=4)
plot( ma06, color=maColor(ma06,ma09), style=line, title="MMA90", linewidth=3)
plot( ma07, color=maColor(ma07,ma09), style=line, title="MMA90", linewidth=2)
plot( ma08, color=maColor(ma08,ma09), style=line, title="MMA90", linewidth=1)

//plot( ma01, color=maColor(ma01,ma09), style=columns, title="MMA05", transp=70, histbase=50)
//plot( ma02, color=maColor(ma02,ma09), style=columns, title="MMA30", transp=70, histbase=50)
//plot( ma03, color=maColor(ma03,ma09), style=columns, title="MMA50", transp=70, histbase=50)
//plot( ma04, color=maColor(ma04,ma09), style=columns, title="MMA70", transp=70, histbase=50)
//plot( ma05, color=maColor(ma05,ma09), style=columns, title="MMA90", transp=70, histbase=50)
//plot( ma06, color=maColor(ma06,ma09), style=columns, title="MMA90", transp=70, histbase=50)
//plot( ma07, color=maColor(ma07,ma09), style=columns, title="MMA90", transp=70, histbase=50)
//plot( ma08, color=maColor(ma08,ma09), style=columns, title="MMA90", transp=70, histbase=50)

//  ||-----------------------------------------------------------
//  ||---   Bar Color:
//  ||-----------------------------------------------------------
hline(0, color=black, title="RSI 0 Line")
hline(50, color=black, title="RSI 50 Line")
hline(100, color=black, title="RSI 100 Line")
//  ||-----------------------------------------------------------
//  ||---   Bar Color:
//  ||-----------------------------------------------------------
ma_TPower = maRank(ma01, ma02, ma09) + maRank(ma02, ma02, ma09) + maRank(ma03, ma02, ma09) + maRank(ma04, ma02, ma09) + maRank(ma05, ma02, ma09) + maRank(ma06, ma02, ma09) + maRank(ma07, ma02, ma09) + maRank(ma08, ma02, ma09)

barcolor(rsiMA_barColor(ma_TPower))
Like it! Thanks for sharing!
Reply
Gives solid signals, nice work!
+3 Reply
nice, but is not show as buy signal as now on EU. difficult to interpretation.
+2 Reply
You are correct right now EU 8:55 Est. April 7, EURUSD 1H chart is bearish.
+5 Reply
krystianfx QuantitativeExhaustion
:) right this TF show as sell no doubt.
+2 Reply


Here is 5 min chart showing divergence.
+5 Reply
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