Bjorgum

Bjorgum RSI

RSI output signals are displayed with color change to reflect the plotted value. This makes evaluating RSI conditions require but a glance.

RSI momentum buy signals are given on the cross of the 50 level, whereas sell signals are given on a fall below.

Default values a 5 period RSI which gives more timely entrances and exits for swing traders. This can be adjusted to the typical 14 period if the viewer desires slower signals.

Bullish and bearish area is shaded to accentuate the signal to the eye.

Excellent results can be found when coupling BJ RSI , with BJ TSI, and the reversal system using all 3 as a complete together simultaneously

Default color changes are plotted as a recorded value falls within the following levels:

RSI < 30 = green
RSI 30-50 = red
RSI 50-70 = blue
RSI 70-80 = yellow
RSI 80-90 = orange
RSI 90-100 = white hot
Release Notes: *ALL NEW*

RSI is now fully customizable at each 5 cent increment. Create your own color schemes outside of default to alter the plot color at any RSI level you choose
Release Notes: Dual speed selector

Fast (default) uses typical BJ RSI inputs for a 5 period RSI. Best for swing trading - quick signals, more whipsaw

Slow (optional) uses a standard RSI input of 14 periods. Better for longer holds or volatile assets - less whipsaw, later signals

The user can select desired speed by simply selecting the drop down box to vary between user defined input lengths

Added alert function for RSI crossing 50. Alert specifies time period triggered and price at time of alert
Release Notes: Added optional toggle on input screen that will change the bar color to the user defined color values inline with RSI values.

*Default is to not show bar color user must opt for the function*
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

thanks for your sharing
100 coins
Reply
Bjorgum tinkl
@tinkl, Just noticed this! Thank you very much - very nice of you!
Reply
This is a good complement confirmation ot my trading and a neat design as well. Brilliant!
+2 Reply
Bjorgum LittleBanii
@LittleBanii, Thank you, I am happy it helps you. So often the simplest strategies are the most effective! GL
Reply
colors of candles not changed please reply
+1 Reply
Bjorgum gdpise
@gdpise this was intended as a stand alone indicator, but I will add and update
Reply
kaskam gdpise
@gdpise, go to settings and activate bar color
Reply
@kaskam, bar color in setting already active. what to do next please
Reply
kaskam devyanigpise
@devyanigpise, I don't see why it shouldn't work for you. Just to make sure we are on the same page, here's the path to get to the bar color settings am talking about.

Click on settings on the indicator BJ RSI, then click Inputs, Scroll down till you see "Toggle For Bar Color". Make sure that box is checked. Your bar color should have changed. You can change the colors to what is more comfortable for you
Reply
Thanks will give this a try and see how i make progress
+1 Reply
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