OPEN-SOURCE SCRIPT
Updated Ultimate Relative Strength
Ema 9 and 21 crossover bands. Green for positive trend, red for negative. It then calculates the distance between the bands and plots the distance as a percentage compared to the overall asset price.
Relative strength index with overbought and oversold levels (customizable). Green columns could be a good place to DCA. Red columns for marking local tops.
By recording the RS % amongst a list of assets, you can determine Salxx's RS Ranking from highest to lowest. A high ranking % inside a red column suggests short term dip or sideways movement. Not the best time to buy in. Monitor until consolidation between overbought and oversold levels. If RS ranking still high, now time to buy in.
Relative strength index with overbought and oversold levels (customizable). Green columns could be a good place to DCA. Red columns for marking local tops.
By recording the RS % amongst a list of assets, you can determine Salxx's RS Ranking from highest to lowest. A high ranking % inside a red column suggests short term dip or sideways movement. Not the best time to buy in. Monitor until consolidation between overbought and oversold levels. If RS ranking still high, now time to buy in.
Release Notes
..Release Notes
.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.