Rs Candlestick Indicator With Moving Averages
Unlike the traditional RSI, this one offers you an detailed insight with candlestick chart, rather than a simple line setup. It also includes two different customizable moving average(s) and offers detailed information such as bullish/bearish candlestick formations, negative and positive divergences on indicator.
How to use: Similar to candlestick charts, whenever Rsi candle close and stays above moving average(s) it's a buy signal and whenever candle closes below moving average(s), that's a sell signal. Rather than waiting for Rsi to break mid-line(50) to buy and sell, this one offers dynamic and more accurate buy and sell signals. You can also customize top-mid-bottom line values as well to determine overbought and oversold levels.
How to use: Similar to candlestick charts, whenever Rsi candle close and stays above moving average(s) it's a buy signal and whenever candle closes below moving average(s), that's a sell signal. Rather than waiting for Rsi to break mid-line(50) to buy and sell, this one offers dynamic and more accurate buy and sell signals. You can also customize top-mid-bottom line values as well to determine overbought and oversold levels.
Versionsinformation:
Added mid-line color.