CM-RSI

Category: Indicators By: bolsatrilera Created: August 6, 2018, 6:57 AM
August 6, 2018, 6:57 AM
Indicators
3 Comments

adaptation of a Tradingview code at the request of the French forum :

based on Larry Connors’ RSI-2 system.

The RSI-2 Strategy is designed to use on Daily Bars, however it is a short term trading strategy. The average length of time in a trade is just over 2 days.

REM CM-RSI
//Created by ChrisMoody
//Based on Larry Connors RSI-2 Strategy - Lower RSI
//study(title="_CM_RSI_2_Strat_Low", shorttitle="_CM_RSI_2_Strategy_Lower", overlay=false)
// on platform Tradingview
//adapted by platform Prorealtime v10.3 by bolsatrilera
 
//RSI CODE
up =WilderAverage[2](max(close-close[1],0))
down =WilderAverage[2](-min(close-close[1], 0))

rs =  100 - (100 / (1 + up / down))
//Criteria for Moving Avg rules
ma5 = average[5](close)
ma200= average[200](close)

//Rule for RSI Color
if close > ma200 and close < ma5 and rs < 10 then
 r=0
 g=255
 b=0
elsif close < ma200 and close > ma5 and rs > 90 then
 r=255
 g=0
 b=0
else
 r=192
 g=192
 b=192
endif


return 100 coloured(0,255,255)style(line,3)as "Upper Line 100",0 coloured(0,255,255)style(line,3)as "Lower Line 0", 90 coloured(0,255,255)style(line,3)as "Upper line 90",10 coloured(0,255,255)style(line,3)as "Lower Line 10",rs coloured(r,g,b) style(line,2) as "rsi"

Download
Filename: CM-RSI.itf
Downloads: 257
bolsatrilera Master
Currently debugging life, so my bio is on hold. Check back after the next commit for an update.
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