This is a script about the RSI for the Volume Trend, with this indicator we can help us to watch the force of a volume trend (not price). Some times this can help us to clarify the change of the direction.
This is a continuation of the:
ideas, comments and suggestions (or corrections).They are always welcome
This is a continuation of the:
ideas, comments and suggestions (or corrections).They are always welcome
//@version=2 study("Volume RSI", shorttitle="VRSI") //Volume RSI //Analisis de resistencia relativa para la tendencia del Volumen // devicemxl --> TradingView Site /// INPUTS sh = input(14, title="RSi",minval=1) lo = input(28, title="Signal",minval=1) smo = input(1, title="Smooth",minval=1) /// Values volumex=volume//*(close>close[1] ? 1 : -1) V_OPEN = V_CLOSE[1] V_CLOSE = close*volumex V_HIGH = max(max(high*volumex,V_CLOSE),V_OPEN) V_LOW = min(min(low*volumex,V_OPEN),V_CLOSE) V_HL2 = ( V_HIGH + V_LOW ) / 2 RS1=rsi(V_CLOSE,sh) RS2=wma(RS1,smo) RS3=sma(RS2,lo) // plot(RS2,color = #FA8072, linewidth=2) plot(RS3,color = blue) // hline(50, title="Axis", color=gray, linestyle=dashed,linewidth=2) sc=hline(60, title="Climax", color=silver, linestyle=dotted) ei=hline(70, title="", color=silver, linestyle=solid) sv=hline(40, title="Exaust", color=silver, linestyle=dotted) pp=hline(30, title="", color=silver, linestyle=solid) fill(ei,pp, color=silver) fill(sc,sv, color=gray)