BETA TEST - The RSI Strength

RSI-Srength-beta-test

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 65

The_Masked_Trader2023 on Thursday, 04 April 2024 10:29

Hey hey I want in! Access please!

Hey hey I want in! Access please!
The_Masked_Trader2023 on Thursday, 04 April 2024 10:30

I think I got a strategy lined up.

I think I got a strategy lined up.
CoffeeShopCrypto on Thursday, 04 April 2024 11:11

granted. Its in your invite only scripts

granted. Its in your invite only scripts
CSCFoundation on Thursday, 04 April 2024 11:04

this one looks good

this one looks good
Drethatrader on Thursday, 04 April 2024 12:20

Hey kind sir can i get access to test it out. thanks

Hey kind sir can i get access to test it out. thanks
CoffeeShopCrypto on Friday, 05 April 2024 11:32

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!

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!
anka__06 on Thursday, 04 April 2024 13:01

hi eric.access please!

hi eric.access please!
Tonyb on Thursday, 04 April 2024 13:48

I would love to give this a try and brainstorm some strategies. Thank

I would love to give this a try and brainstorm some strategies. Thank
CoffeeShopCrypto on Friday, 05 April 2024 11:31

Show us what you got T.
Access Granted

Show us what you got T. Access Granted
Marrkk3 on Thursday, 04 April 2024 17:18

Look forward to assisting with this project in some way, ready to give it as go!

Look forward to assisting with this project in some way, ready to give it as go!
CoffeeShopCrypto on Friday, 05 April 2024 11:30

SOrry Mark. i cant grant you access.
Your profile here does not contain the proper info.

SOrry Mark. i cant grant you access. Your profile here does not contain the proper info.
sheramkhan1 on Thursday, 04 April 2024 17:25

Hello, could you kindly grant me access? Thanks

Hello, could you kindly grant me access? Thanks
CoffeeShopCrypto on Friday, 05 April 2024 11:27

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

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
CryptoLouie on Thursday, 04 April 2024 18:14

Had a good experience with your Heiken Ashi Algo v6 interested in beta testing the RSI strength indicator.

Had a good experience with your Heiken Ashi Algo v6 interested in beta testing the RSI strength indicator.
CoffeeShopCrypto on Friday, 05 April 2024 11:24

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

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
CSCFoundation on Thursday, 04 April 2024 21:18

Request

Request:D
CoffeeShopCrypto on Friday, 05 April 2024 11:22

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!

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!
jack67au on Thursday, 04 April 2024 22:35

g'day mate can i please get access to the indicator cheers

g'day mate can i please get access to the indicator cheers :)
CoffeeShopCrypto on Friday, 05 April 2024 11:22

access granted to the RSI Strength. Go read your DM

access granted to the RSI Strength. Go read your DM
Way1ander on Thursday, 04 April 2024 23:06

Hello Eric bro, can you please add me to the indicator? So 2 indicator strategy any timeframe. Challenge accepted

Hello Eric bro, can you please add me to the indicator? So 2 indicator strategy any timeframe. Challenge accepted
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