OPEN-SOURCE SCRIPT
BG_RSI Stochastic Fusion
The RSI Stochastic Fusion Indicator is a powerful technical analysis tool that combines two popular momentum oscillators: the Relative Strength Index (RSI) and the Stochastic Oscillator. This versatile indicator provides traders with a comprehensive view of market momentum and potential overbought/oversold conditions across multiple timeframes.
Key Features:
RSI Component:
Customizable RSI length and source
Option to add a moving average to the RSI (SMA, EMA, SMMA, WMA, or VWMA)
Bollinger Bands option for the RSI
Stochastic Component:
Adjustable main Stochastic settings (length, smoothK, and smoothD)
Multi-timeframe functionality (MTF)
Customizable upper and lower boundary lines
Visual Representation:
RSI plotted with a purple line
RSI-based moving average in yellow
Stochastic %K line in lime green
Stochastic %D line in red
Customizable overbought/oversold levels for both RSI and Stochastic
Flexibility:
Users can choose between current chart resolution or a custom timeframe for the Stochastic
Easy-to-use input options for fine-tuning both indicators
Key Features:
RSI Component:
Customizable RSI length and source
Option to add a moving average to the RSI (SMA, EMA, SMMA, WMA, or VWMA)
Bollinger Bands option for the RSI
Stochastic Component:
Adjustable main Stochastic settings (length, smoothK, and smoothD)
Multi-timeframe functionality (MTF)
Customizable upper and lower boundary lines
Visual Representation:
RSI plotted with a purple line
RSI-based moving average in yellow
Stochastic %K line in lime green
Stochastic %D line in red
Customizable overbought/oversold levels for both RSI and Stochastic
Flexibility:
Users can choose between current chart resolution or a custom timeframe for the Stochastic
Easy-to-use input options for fine-tuning both indicators
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