OPEN-SOURCE SCRIPT
RSI|The Wave Principle
The Wave Principle | Modified RSI
30 green | 70 red = Strong Movement (Possible Impulse)
20 cyan | 80 Yellow = Strongest Movement
Support and Resistance Level (Trend Continuation)
Uptrend= 40
Downtrend = 60
Break+Retest = BR
Div = Divergence (Change in trend)
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This indicator has been modified from original RSI to fit Wave Principle characteristics:
Uptrend Impulsive Wave over 70 RSI it changes color to red, and > 80 yellow stronger impulse | Usually means continuation, at least once more.
Downtrend Impulsive Wave under 30 RSI it changes color to green, and < 20 cyan stronger impulse | Usually means continuation, at least once more.
Once RSI reached these levels, it doesn't mean trend reversal but a correction is expected. If it shows divergence along with an Ending Diagonal, it's a confirmation for trend reversal.
In a corrective wave, levels 40-60 represents support and resistance levels where price won't go further. Indicating Corrective Waves, not as strong as Impulsives.
Prices can breakout RSI trend lines and retest from the other side before continue the new trend as also described in the Wave Principle.
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30 green | 70 red = Strong Movement (Possible Impulse)
20 cyan | 80 Yellow = Strongest Movement
Support and Resistance Level (Trend Continuation)
Uptrend= 40
Downtrend = 60
Break+Retest = BR
Div = Divergence (Change in trend)
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This indicator has been modified from original RSI to fit Wave Principle characteristics:
Uptrend Impulsive Wave over 70 RSI it changes color to red, and > 80 yellow stronger impulse | Usually means continuation, at least once more.
Downtrend Impulsive Wave under 30 RSI it changes color to green, and < 20 cyan stronger impulse | Usually means continuation, at least once more.
Once RSI reached these levels, it doesn't mean trend reversal but a correction is expected. If it shows divergence along with an Ending Diagonal, it's a confirmation for trend reversal.
In a corrective wave, levels 40-60 represents support and resistance levels where price won't go further. Indicating Corrective Waves, not as strong as Impulsives.
Prices can breakout RSI trend lines and retest from the other side before continue the new trend as also described in the Wave Principle.
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オープンソーススクリプト
TradingViewの精神に則り、この作者はスクリプトのソースコードを公開しているので、その内容を理解し検証することができます。作者に感謝です！無料でお使いいただけますが、このコードを投稿に再利用する際にはハウスルールに従うものとします。
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。