OPEN-SOURCE SCRIPT
RSI Go long
Giving all credit to celena at WarriorTrading for the idea behind this script.
The script is pretty basic and self-explanatory. We will use certain RSI levels both on 5min and 1min to determine the strength/momentum of a stock.
The idea is to monitor 5m and 1m timeframes at once. if the RSI starts to test the initial level, we will see a plot on the graph ( default color is orange ). If we reach our target level and above, bar colors will change to default color green. If this happens in both 1min and 5 min timeframe it is an indicator of the strength of the stock. This indicator coupled with our own strategy helps us reinforce the idea for long entries.
The script is pretty basic and self-explanatory. We will use certain RSI levels both on 5min and 1min to determine the strength/momentum of a stock.
The idea is to monitor 5m and 1m timeframes at once. if the RSI starts to test the initial level, we will see a plot on the graph ( default color is orange ). If we reach our target level and above, bar colors will change to default color green. If this happens in both 1min and 5 min timeframe it is an indicator of the strength of the stock. This indicator coupled with our own strategy helps us reinforce the idea for long entries.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Trying to figure out trading, one chart at a time.
Just throwing away stupid trading ideas, these are not buy/sell alerts so please do your own due diligence.
Just throwing away stupid trading ideas, these are not buy/sell alerts so please do your own due diligence.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Trying to figure out trading, one chart at a time.
Just throwing away stupid trading ideas, these are not buy/sell alerts so please do your own due diligence.
Just throwing away stupid trading ideas, these are not buy/sell alerts so please do your own due diligence.
Aviso legal
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.