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.
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Comments 70
Hello, may I please be granted access to the RSI Strength indicator in Tradingview please? I’ll happily share my results and strategy. Thank you!
Hey Erik. can i get access to this indicator again. im trying to build a supertrend strat and want to test it with this rsi. also will we be getting the new power void soon thanks. boss
So I use the RSI strength. To trade the supertrend open range breakout. Using the strength RSI to see if when the candle breakout of the range box if it's a true breakout. If rsi strength hits the 100% before the breakout then I can expect a strong move.
Also using RSI strength with macchiato momentum is a game changer. Eric is the King of RSI
Is it too late to gain access?
Hi Can i please have access?
thanks
Hi, could you please grant access to the indicator so I can test it out. Thank you!
Just joined… checking for accessibility of RSI indicator.
Hey Eric, I’d like access please.
Where do I find ‘indicator strategies’ to post my strategy with this indicator?
looking forward to test this! tv username- availableChees98122