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Instabot RSI
A simple RSI indicator that shows some additional information for you.
When adding the indicator, I normally open the settings and switch off the Top, Bottom, Overbought and Oversold Lines. This helps zoom the indicator into the action (and those lines are only used in construction anyway).
The indicator shows the RSI, plus a colour coded moving average of the RSI to give you a trend. It also makes Overbought and Oversold conditions more obvious and adds dots to the chart when things become critically overbought or sold.
I typically use this on 4hr and higher timeframes, though it will be useful anywhere you were using an RSI indicator before.
When adding the indicator, I normally open the settings and switch off the Top, Bottom, Overbought and Oversold Lines. This helps zoom the indicator into the action (and those lines are only used in construction anyway).
The indicator shows the RSI, plus a colour coded moving average of the RSI to give you a trend. It also makes Overbought and Oversold conditions more obvious and adds dots to the chart when things become critically overbought or sold.
I typically use this on 4hr and higher timeframes, though it will be useful anywhere you were using an RSI indicator before.
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