Relative Strength Index with Range Shift

Viewing 6 posts - 1 through 6 (of 6 total)

Author

Posts
11/14/2022 at 6:15 PM #204166 quote

yas
Participant

Junior

Can this code be converted into Pro Real Time please if possible this indicator was in tradingview

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/

// © kevindcarr

//@version=5

indicator(title=’Relative Strength Index with Range Shift’, shorttitle=’RSI’, overlay=false, precision=1)

var table conditionTable = table.new(position=position.top_right, columns=1, rows=1)

log = input.string(title=’Scale’, options=[‘Logarithmic’, ‘Regular’], defval=’Logarithmic’)

range_1 = input.string(title=’Range Bias’, options=[‘Bullish’, ‘Strong Bullish’, ‘Bearish’, ‘Strong Bearish’, ‘No Bias’], defval=’Bullish’)

lookbackPeriod = input(title=’Lookback Period’, defval=14)

source = input(title=’Source’, defval=close)

rangeShift(range_2) =>

if range_2 == ‘Bullish’

[40, 60, 80]

else if range_2 == ‘Strong Bullish’

[45, 65, 85]

else if range_2 == ‘Bearish’

[35, 55, 75]

else if range_2 == ‘Strong Bearish’

[30, 50, 70]

else

[40, 60, 80]

condition(rsi, range_3) =>

[lo, mid, hi] = rangeShift(range_3)

if rsi <= lo

[color.green, ‘Very Oversold’]

else if rsi <= mid

[color.yellow, ‘Oversold’]

else if rsi <= hi

[color.orange, ‘Overbought’]

else

[color.red, ‘Very Overbought’]

rsiSource = (log == ‘Logarithmic’ ? math.log(source) : source)

rsi = ta.rsi(rsiSource, lookbackPeriod)

[col, txt] = condition(rsi, range_1)

table.cell(conditionTable, 0, 0, text=txt, bgcolor=col)

plot(series=rsi, title=’Relative Strength Index’, color=col)

11/15/2022 at 8:04 AM #204191 quote

yas
Participant

Junior

hi guys

can the above code can be converted into pro real time please if possible

many thanks

11/15/2022 at 10:52 AM #204196 quote

Nicolas
Keymaster

Legend

ok, but you know that’s a classic RSI with 3 different colors shades, right?

11/15/2022 at 10:54 AM #204197 quote

yas
Participant

Junior

yes thats correct

11/15/2022 at 1:53 PM #204214 quote
Nicolas
Keymaster

Legend
Well ok, here it is. Change the “range bias” with a number in the settings at top of the code:
```
lookbackPeriod=14
rangeBias = 0 //0=bullish, 1=strong bullish, 2=bearish, 3=strong bearish

if rangebias=0 then 
lo=40
mid=60
hi=80
elsif rangebias=1 then
lo=54
mid=65
hi=85
elsif rangebias=2 then
lo=35
mid=55
hi=75
elsif rangebias=3 then
lo=30
mid=50
hi=70
else
lo=40
mid=60
hi=80
endif 

source=customclose

irsi=rsi[lookbackperiod](source)
if irsi <= lo then 
r=0
g=255
elsif irsi <= mid then
r=255
g=255
elsif irsi <= hi then 
r=255
g=165
else
r=255
g=0
endif 
return irsi coloured(r,g,0)
```
rsi-range-bias-shift.png
11/15/2022 at 2:02 PM #204216 quote

yas
Participant

Junior

Thank you very much appreciated your help thanks again
Author

Posts