Trend V2.1

260 3 27
All features indicated on the chart.
A simple higher period call of 5 period RSI that shows what we all know that OB/OS conditions are some of the best parts of a move.
color bars can be turned off. RSI can be shown in a traditional format with a smoothed line (current period). Trend bars can be turned on or off. Blank areas on the bottom line denote non OB/OS conditions on the higher time frame.
Not to be used as a signal generator per se, but does a good job in backtesting anyway. I would use this as a 'permission' signal more than anything, keeps you on the right side of the move, far more often than not.
Trade responsibly
Remove from Favorite Scripts Add to Favorite Scripts
study("Trend V2.1", overlay=true)
tf = period=="1"?"3":period=="3"?"5":period=="5"?"15":period=="15"?"30":period=="30"?"45":
overlay = input(true, title="Show Trend Color?")
mode    = input(true, title="RSI mode?")
Period  = input(5, title="Length")
Period2 = input(3, title="Signal")
src     = input(close, title="Source", type=source)
rsi     = rsi(security(tickerid, tf, src, false), Period)
OB      = input(80)
OS      = input(20)
trend   = rsi>=OB?teal:rsi<=OS?maroon:na
trendid = rsi>=OB?1:rsi<=OS?-1:0
barcolor(overlay?trend:na, color=trend)
plotshape(overlay==false and trendid==1?trendid:na, style=shape.square, color=teal, location=location.bottom, transp=0)
plotshape(overlay==false and trendid==-1?trendid:na,style=shape.square, color=maroon,location=location.bottom, transp=0)
plot(overlay==false and mode?rsi(src,Period):na, color=black, transp=0)
plot(overlay==false and mode?sma(rsi(src,Period),Period2):na, color=maroon, transp=0)
plot(overlay==false and mode?OB:na, color=maroon, transp=0)
plot(overlay==false and mode?OS:na, color=teal, transp=0)
i have been trading on this indicator, fortunately paper trading. It repaints, when the signal is wrong it cancels and disappears. You are deliberately scamming your followers.
How can I backtest this signal?
The square boxes at the bottom, they repaint. I changed from 5 minutes to 15 minutes and then back to 5 minutes and they had changed. Request you to post a corrected indicator.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out