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 60
YOCKOOOOOO!!! youve been away for a long time. Not been active much here. keep in mind the requested rules for this inclusion. Ill remind below.
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!
Hello. Can I get beta access please?
CoffeeShopCrypto on Saturday, 06 April 2024 21:58
YOCKOOOOOO!!! youve been away for a long time. Not been active much here. keep in mind the requested rules for this inclusion. Ill remind below.
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, can I have access please? I'll be happy to test this
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, I would love to test the new RSI. I am away for the next 15 days, but will not be taking my laptop with me. Can I still gain access to the RSI when I get back from holiday, or will I be too late to the party. I will reach out as soon as I get back. Is that OK. If you give me access now, I will loose out based on the 10 day rule, so best to gain access when I return.
make the request when you return. then youll have it for 30 days going forward.
Alriiiight Coffee Master..... hit me with it! ;-)
well that didnt take much to talk you into did it? LOL
it should be in your invite only scripts now. dont forget to report back with some strateg(ies) that you employ to this.
Thanks Raptor. I expect greatness from someone like you.
Can I get access too please. Cheers
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, will you let me try it to build a strategy with it?
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,
Would you please grant me access - rednull360
Cheers
ur access has been added. make sure to follow the following closely.
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.
Hi Eric, I'm back from holiday ready & excited to test and participate in the RSI Beta. Please add me
Morning Eric, please grant me access to the RSI Strength participation indicator. Thanks
ur access has been added. make sure to follow the following closely.
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.
Hi coffeeshopcrypto ,would you please give me access to this indicator ,thanks alot
Hi Eric! Can I be granted access, please ? I'll post my results and potential strategies. Thanks!