RSI Precision Trend Candles [Loxx] is a candle coloring indicator that uses an average range algorithm to determine trend direction. The precision trend algorithm can be used on any calculated output to tease out interesting trend information.
What is RSI? The relative strength index (RSI) is a momentum indicator used in technical analysis. RSI measures the speed and magnitude of a security's recent price changes to evaluate overvalued or undervalued conditions in the price of that security.
The RSI is displayed as an oscillator (a line graph) on a scale of zero to 100. The indicator was developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, New Concepts in Technical Trading Systems.
There are two other indicators on TradingView called 'RSI Precision'... listed before yours... on 2021, and on early 2022... choosing the same name for your own version of RSI creates confusion... there are so many names you can choose... you don't have to take someone else's idea for a name
sinomos365
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I wondered if this indicator can be written in python ! I made some modifications on the values and it’s too good ! If it is possible to make this in python i am really interested