This script is a combination of the RSI, QQE and BB
Here is an explanation on how I combined them, and how they are used: - RSI (Relative Strength Index) - Display a smoothed version of the RSI to identify "oversold" and "overbought" market phases - Used to calculate a QQE - QQE (Quantitative Qualitative Estimation) - Used to identify trend direction and trend strength - Used to set a basis for the BB - BB (Bollinger Bands) - Used with QQE as a basis to determine a relative definition of "high RSI" and "low RSI" - Used with QQE as a basis to determine the volatility of the RSI at a given moment - Used to predict pivot points
Here are the main signals: - When"RSI Smoothed" line above the Upper BB then "RSI Smoothed" line turns green - Also, display green background color highlight - Also, and if"RSI Smoothed" is above the overbought line then display a second green background color highlight - When"RSI Smoothed" line bellow the Lower BB then "RSI Smoothed" line turns red - Also, display red background color highlight - Also, and if "RSI Smoothed" is bellow the oversold line then display a second red background color highlight
A tool codded to be aesthetically pleasing and VERY customisable: - Designed for both light theme and dark theme users - Value can be easily modified in the settings - Colors can be easily swapped in the settings - Opacity of "fill" & "bgcolor" regrouped as a single input
A tool codded to be easy to read and to learn from: - Sources and inspirations all listed within the script - Structure easily identifiable (to understand with little to no effort how the script works)
Notes : - This script is lagging, because of that I do recommend using it on relatively large timeframe - This script is OpenSource, feel free to reuse it, but if so please remember to include a link to my script in your sources - This script is not a magical tool, use at your own risk
نص برمجي مفتوح المصدر
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.