CoffeeShopCrypto HARSI 2022

XAUUSD_2023-11-22_20-30-14_8105f HARSI 2022

What if you didn't need to wait for the RSI to go above 50 to go bullish for the RSI to go below 50 to go bearish?
What if you can see when a move in the market is just a liquidity trap?
What if you can use a vwap on something longer than a daily chart?
What if you wanted to have both Heiken Ashi candles and Japanese candles on your same chart without overlapping each other?
Did you know that even the RSI has hidden lines of support and resistance?

*********Ill be placing a full breakdown video in my profile about the script if you would rather see it in motion.*******

I'm happy to say that today's I present the release of the new version of the heikin-ashi RS (HARSI)I which is called

"The Coffeeshop Crypto HARSI"

The original HARSI is written by @JayRogers on an older Pinescript code and while it still works, Pine script continues to update their coding which is now up to version 5.
This new version of the HARSI (or rather the CSC-HARSI) is written in version 5 Pine-script. And I have developed it to be used with a secondary indicator that can give you much better returns on your trades. The second indicator is called "The Mass Effect Moving Average" and you can see it on my screen, however at the recording of this video, it is not released.
There are still a few tweaks I want to make before sending it off to Trading View so make sure to follow my profile, and you'll get the updates when it is published.

The Background:
I have been using the original HARSI indicator for about 3 months and doing a decent job getting good trades on it, however I felt it was lacking a few things so I decided to rewrite the code into version 5 Pine script and add in a few special features which you guys are going to love so stay tuned for the entire video.

(some of the dialog might look odd because this was also published to YouTube)

There is going to be a lot of information here and I'll try not to make a boring and Technically heavy vid and really keep this an exciting side for everybody so you can stick to it let's go.

Of course if there are any questions you can feel free to drop them in the comments below.
So now that the introduction and premise is over let's get on to the indicator.



-------------------THE CSC-HARSI Solves some problems the old one was missing-----------------------------------
- Heiken Ashi Plotted Candles with Open-High-Low-Close Smoothing that are individually adjustable.
What is Open-High-Low-Close individual smoothing?
In short, the Open High Low and Close are no longer all locked to a single number.
You can set the bar length of any of these, separately for any of the others.

For example: You may want to use a 10 period length for HIGH / 10 period for LOW / 21 period for Open / 50 period for close. You choose the length of each part of the candle as you like to your trading style. You don't need to follow these numbers. You can choose your own and note how the HA candles adjust on your oscillator.

- Stochastic RSI including k% and d% fill color (Stochastic RSI Ribbon) like the old version.
Stochastic RSI: is still the same
Included here is a color fill between the k% line and d% line to give you a quick visual of up or down trend. You can turn this on or off as you wish.
There is also a Stochastic RSI Length separate from the actual Stochastic Length to help smooth your ribbon.

- Relative Strength Index which we all know and love.
Relative Strength Index: now has moving averages tied to it.
We all know and love the RSI. By now most of you have been using it extensively so there is no need to go into an in depth description. But you have to see how the "RSI Moving Average PLUS'' works against this.

- Relative Strength Index Moving average (PLUS).
RSI Moving Average Plus: (LSMA and VWAP MA)
What is so PLUS about an RSI Moving average?
THE COMPARISON

The most recent update to the RSI gave us the ability to switch between a few moving averages to use against the RSI signal indicating a smoothed direction of trend and breaks in trend. But I felt the signal was still too slow and too much profit was lost waiting for a break in trend confirmation.
I'm sure you've seen it too. Price rises in a rally, goes way up and then starts turning downward. I felt we needed something to tell us to get IN / OUT sooner.



  • RSI based - Least Squares Moving average.

This LSMA hugs price a bit more closely and when used on a strength oscillator, almost draws a straight line from trend start to end.
The lower you set the MA length, the faster you'll see breaks in trend.
This way when there is a RALLY up or down, you'll see the exit point faster, losing less $ in the wait time.



  • RSI based - VWAP

Use the VWAP MA as your 50 level. Previously you would go long only when RSI breaks above 50 and go short only when RSI breaks below 50. Now you can go long or short when it breaks above or below the level of the VWAP (Especially at the Mid Band Levels noted in the next description)
One important factor to note: When using the VWAP Moving average, it is locked to the length of the RSI. So you can not have an VWAP MA length different from your RSI length. RSI controls the VWAP MA.





- The Hidden Lines of Support and Resistance.
It comes with the use of a Vwap as a moving average which is used by mutual funds / pension funds / institutional traders, as well as day traders.
Watch the video and you'll see my explanation of the hidden lines of support and resistance at the 40 and 60 levels.
(Upper Mid Band / Lower Mid Band)
I have noticed that in each 10 of the levels of the RSI scale, both RSI and Heiken Ashi candles react to hidden areas. These areas present mainly at the 40, 50, and 60 level. I decided to plot these candles and color code them to this indicator as I am conducting a study which I will present on entries and exits at these levels. I still have more backtesting to do on it.



In another video I'll present to you HOW I do entries and exits using this indicator. Today's video is strictly about the indicator itself.



----------------------------------------------------------------------------------------------------------------------------------





----------------------------CREDITS---------------------------
Lets start with the CREDITS:
@JayRogerswww.tradingview.com/u/JayRogers/
For originating the idea. A very cool guy whom I've had the pleasure of speaking with a few times. The code he wrote was via an older version of Pine-script and needed updating to Pine v5.
-----------------------------------------------------------------




A quick note of how i would enter and exit trades.

Additional Note from the CoffeeShop Crypto:
"Watching price action is one thing. And you can be great at it but it's easy to get caught in a liquidity trap or potential stop hunts. Obviously you won't enter a trade unless there is enough volume behind that to show there's actually TRUE momentum in the market, right?
Setting your RSI MA to VWAP means you can see when a candle closes above (going bullish) or below (going bearish)."
If you see price action going bullish on your chart and the RSI has a good move, you need to make sure your Heiken Ashi candle opens below the VWAP MA and closes above the VWAP MA. This means there is true volume in the trade.
If the Green HA candle never closes above the VWAP MA, you should not enter long.

Access to this indicator is granted upon your agreement to stay an active member of this community. If you are away too long, the indicator will delete itself from your chart. This is in place to help the community stay communal and collaborative.
There will no longer be "Ghosting" of indicator users.

by CoffeeShopCrypto
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Comments 42

28betz on Thursday, 23 November 2023 12:26

what is rsi moving average from first picture on this page?

what is rsi moving average from first picture on this page?
CSCFoundation on Friday, 24 November 2023 03:57

Would recommend watching some of his YouTube videos.

Would recommend watching some of his YouTube videos.
thewelder9998 on Thursday, 23 November 2023 23:39

Would like to try this indicator. Thank you

Would like to try this indicator. Thank you
River on Saturday, 02 December 2023 17:54

“Style” suggestion for CSC HARSI 2022:

Adding shapes ▲ ▼ [or shape choice/ with color choice] when HA CANDLE opens below and closes above RSI BASED MA ▲or vice versa.

“Style” suggestion for CSC HARSI 2022: Adding shapes ▲ ▼ [or shape choice/ with color choice] when HA CANDLE opens below and closes above RSI BASED MA ▲or vice versa.
CoffeeShopCrypto on Wednesday, 20 December 2023 19:49

doing this will end up showing a really long string of ▲ ▼ shapes. Thats a bad bad look

doing this will end up showing a really long string of ▲ ▼ shapes. Thats a bad bad look
Ugbebor on Sunday, 03 December 2023 05:53

Brother can you please give me access to the new indicator CoffeeShopCrypto HARSI 2022, I have registered myself on the website. Thanks

Brother can you please give me access to the new indicator CoffeeShopCrypto HARSI 2022, I have registered myself on the website. Thanks
Solgreen on Monday, 04 December 2023 15:21

Brother can you please give me access to the new indicator CoffeeShopCrypto HARSI 2022, I have registered myself on the website. Thanks

Brother can you please give me access to the new indicator CoffeeShopCrypto HARSI 2022, I have registered myself on the website. Thanks
Solgreen on Monday, 04 December 2023 15:22

my name is owojesus

my name is owojesus
Kkanan on Monday, 04 December 2023 18:20

Dont see this on TV anymore??

Dont see this on TV anymore??
Fitola on Wednesday, 06 December 2023 05:31

Would like to test it out, where is the video, I hardly use vwap in trades and it would be interesting to see how it functions..

Would like to test it out, where is the video, I hardly use vwap in trades and it would be interesting to see how it functions..
CoffeeShopCrypto on Wednesday, 06 December 2023 06:43

You should all have access to this indicator now. Sorry i didnt get to your messages.
Thanks

You should all have access to this indicator now. Sorry i didnt get to your messages. Thanks
Moe on Wednesday, 06 December 2023 08:38

Thank you

Thank you
Mrcrippto01 on Wednesday, 06 December 2023 07:02

so here i found it!! let´s do same magic!

so here i found it!! let´s do same magic!
CoffeeShopCrypto on Wednesday, 06 December 2023 20:08

Good work Mr Cripp

Good work Mr Cripp
Fitola on Wednesday, 06 December 2023 09:56

Got your message, thanks, but how do I get the code on trading view, is there a link

Got your message, thanks, but how do I get the code on trading view, is there a link
Fitola on Wednesday, 06 December 2023 10:03

Never mind I figured it out,

Never mind I figured it out, :D
CoffeeShopCrypto on Wednesday, 06 December 2023 20:08

Great to hear that Fitola. Shall we hear from you in a couple days?

Great to hear that Fitola. Shall we hear from you in a couple days?
sunrad on Thursday, 07 December 2023 09:18

Greetings,

I Would like to try this indicator. Can I get access please.

Thank you

Greetings, I Would like to try this indicator. Can I get access please. Thank you
Trufflestorm on Friday, 08 December 2023 07:23

I just received a mail granting me access to the HARSI 2022 indicator, which I am grateful for.
But I have been using the HA-Algo which I thought was a further development of the HARSI. Could I be wrong?
Sorry if it is a stupid question...

I just received a mail granting me access to the HARSI 2022 indicator, which I am grateful for. But I have been using the HA-Algo which I thought was a further development of the HARSI. Could I be wrong? Sorry if it is a stupid question... :)
CoffeeShopCrypto on Friday, 08 December 2023 18:23

not a stupid question. Yes the Algo is the newer version of the HARSI.
The HARSI however is still sought after by many people and TradingView took it down for reasons of their own. So i released the code here for all of you to still have access to the indicator.

not a stupid question. Yes the Algo is the newer version of the HARSI. The HARSI however is still sought after by many people and TradingView took it down for reasons of their own. So i released the code here for all of you to still have access to the indicator.
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