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UCS_RSI Breakout

RSI Breakout indicator, typically used on longer time frame (under Mid CAP) to find the next explosive stock . Can be used on monthly chart with 36 Months breakout period. Weekly with 52 Weeks Breakout period, 100 Days on daily, for Swing trading.
List of All my Indicators - https://www.tradingview.com/p/stocks/?sort=recent&time=day&by=ucsgears
GL.
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study(title="UCS_Relative Strength Index With Breakout", shorttitle="UCS_RSI W/BO")

src = close
len1 = input(14, minval=1, title="Primary RSI Length")

up1 = rma(max(change(src), 0), len1)
down1 = rma(-min(change(src), 0), len1)

rsi1 = down1 == 0 ? 100 : up1 == 0 ? 0 : 100 - (100 / (1 + up1 / down1))

plot(rsi1, color=black)

length = input(60, minval=1, title="Breakout Length")
lower = lowest(rsi1,length)[1]
upper = highest(rsi1,length)[1]
basis = avg(upper, lower)[1]

bo = rsi1 > upper
bd = rsi1 < lower

bcolor = bo ? green : bd ? red : na
plot(100, color=bcolor, style=circles, linewidth=4)
//plot(bo, color=green, title = 'Breakout', style = columns)
//plot(bd, color=red, title = 'Breakdown', style = columns)

h1=hline(70, "Overbought", red, solid, 3)
h2=hline(30, "Oversold", green, solid, 3)
h3=hline(50, "Median", black, dashed, 1)
fill(h1,h2, gray, 80, "Consolidation Zone")
ucsgears PRO
2 years ago
First Indicator is with 2 RSIs, so you measure the divergences. The second indicator, is with 1 RSI purely the breakout.
+1 Reply
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