OPEN-SOURCE SCRIPT
GP - SRSI Channel
GP - SRSI Channel Indicator
The GP - SRSI Channel is a channel indicator derived from the Stochastic RSI (SRSI) oscillator. It combines SRSI data from multiple timeframes to analyze minimum, maximum, and closing values, forming a channel based on these calculations. The goal is to identify overbought and oversold zones with color coding and highlight potential trading opportunities by indicating trend reversal points.
How It Works
SRSI Calculation: The indicator calculates the Stochastic RSI values using open, high, low, and close prices from the selected timeframes.
Channel Creation: Minimum and maximum values derived from these calculations are combined across multiple timeframes. The midpoint is calculated as the average of these values.
Color Coding: Zones within the channel are color-coded with a gradient from red to green based on the ratios. Green zones typically indicate selling opportunities, while red zones suggest buying opportunities.
Visual Elements:
How to Use
Trading Strategy: This indicator can be used for both trend following and identifying reversal points. Selling opportunities can be evaluated when the channel reaches the upper green zone, while buying opportunities can be considered in the lower red zone.
Timeframe Selection: Users can analyze multiple timeframes simultaneously to gain a broader perspective.
Customization: RSI and Stochastic RSI parameters are adjustable, allowing users to tailor the indicator to their trading strategies.
Important Note
This indicator is for informational purposes only and should not be used as a sole basis for trading decisions. Please validate the results of the indicator with your own analysis.
The GP - SRSI Channel is a channel indicator derived from the Stochastic RSI (SRSI) oscillator. It combines SRSI data from multiple timeframes to analyze minimum, maximum, and closing values, forming a channel based on these calculations. The goal is to identify overbought and oversold zones with color coding and highlight potential trading opportunities by indicating trend reversal points.
How It Works
SRSI Calculation: The indicator calculates the Stochastic RSI values using open, high, low, and close prices from the selected timeframes.
Channel Creation: Minimum and maximum values derived from these calculations are combined across multiple timeframes. The midpoint is calculated as the average of these values.
Color Coding: Zones within the channel are color-coded with a gradient from red to green based on the ratios. Green zones typically indicate selling opportunities, while red zones suggest buying opportunities.
Visual Elements:
- The channel boundaries (min/max) are displayed as lines.
- Overbought/oversold regions (95-100 and 0-5) are highlighted with shaded areas.
- Additional explanatory labels are placed on key levels to guide users.
How to Use
Trading Strategy: This indicator can be used for both trend following and identifying reversal points. Selling opportunities can be evaluated when the channel reaches the upper green zone, while buying opportunities can be considered in the lower red zone.
Timeframe Selection: Users can analyze multiple timeframes simultaneously to gain a broader perspective.
Customization: RSI and Stochastic RSI parameters are adjustable, allowing users to tailor the indicator to their trading strategies.
Important Note
This indicator is for informational purposes only and should not be used as a sole basis for trading decisions. Please validate the results of the indicator with your own analysis.
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.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
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.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.