BETA TEST - The RSI Strength
This is going to be a different way to look at the RSI. This is still in development but i want to see what you guys think of this.
Ill be offering this up as a 1 month test run for people to use free. Its not that itll be a paid indicator later on. This is to act as a filter against certain market trends and conditions. Id like to see how you guys use it against Support and Resistance areas and lets see what it plays for you when attempting breakouts.
To get a full detail of what this indicator is doing, check out the video I uploaded for this indicator. If you need a link, just ask.
Comment below showing off your best strategy to use this indicator even if you have to pair it with a secondary one.
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In traditional technical analysis, the Relative Strength Index (RSI) is widely used to assess the magnitude of recent price changes and determine whether a security is overbought or oversold.
RSI values oscillate between 50 and -50, with readings above 30 typically considered overbought and readings below -30 considered oversold.
While RSI provides valuable insights into momentum and potential reversal points, it has certain limitations, particularly in volatile or trending markets.
To address these limitations, the concept of "RSI Strength" is introduced.
RSI Strength is essentially a modified version of the RSI that calculates the amount of strength actually contained or exerted within its most recent move.
Overall, the concept of RSI Strength introduced here offers traders a more nuanced understanding of market dynamics beyond traditional RSI readings on a per candle basis. By taking note of the RSI STRENGTH readings, you can asses if the price movements were enough to shift the market into a new trend, break ranges and previous levels or be a perfect setup for a reversal since the RSI was in its overbought or oversold area and while in that status it breached its 100% of its own strength.
This is a bit of a contest. You guys are the BETA testers and YOU are going to come up with the strategies to use this tool. I already have my own methods. I want to see what YOUVE got to offer.
1. Comment Below to gain access
2. Make sure your Tradingview Username is in your profile on CoffeeShopCrypto
3. You can keep access tor 30 days.
4. During the 30 days you agree to develop strategies of using the indicator
5. Post your strategies in the Community area of CoffeeShopCrypto Here
If yo udo not follow these rules, the indicator will be removed from your chart and you will not gain access in the future.
By accepting you will be accessing a service provided by a third-party external to https://www.coffeeshopcrypto.net/
Comments 59
Hey hey I want in! Access please!
I think I got a strategy lined up.
granted. Its in your invite only scripts
this one looks good
Hey kind sir can i get access to test it out. thanks
access granted to the RSI Strength. Its now in your INVITE ONLY SCRIPTS on TRADINGVIEW
Dont forget the agreement is that you need to show a strategy (urs not someone elses) that you have developed for this indicator.
You can pair it with up to ONE other inidicator if you need to.
There is a group discussion specifically for the strategies in the group "Indicator Strategies"
Failure to follow this will result in
A) The indicator falls off your chart
B) When this is applied to the final indicator, you will not have access.
Otherwise.....i Hope you created GREATNESS with this one!
hi eric.access please!
I would love to give this a try and brainstorm some strategies. Thank
Show us what you got T.
Access Granted
Look forward to assisting with this project in some way, ready to give it as go!
SOrry Mark. i cant grant you access.
Your profile here does not contain the proper info.
Hello, could you kindly grant me access? Thanks
surly. as long as you promise youre going to develop a strategy and show it to us before the indicator shelf life is over?
Access Granted
Had a good experience with your Heiken Ashi Algo v6 interested in beta testing the RSI strength indicator.
Dont forget. its not just a test. You need to show us what you come up with as a strategy.
Ill send you a DM, go check it out.
meanwhile. Access Granted
Request
access granted to the RSI Strength. Its now in your INVITE ONLY SCRIPTS on TRADINGVIEW
Dont forget the agreement is that you need to show a strategy (urs not someone elses) that you have developed for this indicator.
You can pair it with up to ONE other inidicator if you need to.
There is a group discussion specifically for the strategies in the group "Indicator Strategies"
Failure to follow this will result in
A) The indicator falls off your chart
B) When this is applied to the final indicator, you will not have access.
Otherwise.....i Hope you created GREATNESS with this one!
g'day mate can i please get access to the indicator cheers
access granted to the RSI Strength. Go read your DM
Hello Eric bro, can you please add me to the indicator? So 2 indicator strategy any timeframe. Challenge accepted