OPEN-SOURCE SCRIPT

Apirine Slow Candlestick RSI [ChuckBanger]

This is just a candle stick version of Apirine Slow RSI. The yellow line is Apirine Slow RSI with the option to set an offset to it to filter out nice. RSI oscillating between 0 and 100. And whats good with Apirine version is it generates both OB/OS signals and midline (50) cross over signals and divergences. As author suggests, bullish/bearish divergences generated by the indicator are not as effective during strong trends. To avoid fading an established trend, the system is used in conjunction with a trend confirmation tool like ADX indicator.

The script spits out red and green diamonds as a potential long and short signals when the yellow line crosses close of the RSI candles. And combine it with trend confirmation tool like ADX, and if you apply it correctly. You have a very robust trading system. Good luck traders

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