OPEN-SOURCE SCRIPT

RSI Swing Trading Setup (2-Period)

A simple script that adjusts the RSI visibly in order to better accommodate swing trading and certain swing trading setups/strategies.

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Best used in conjunction with "Linear Regression Channel by LonesomeTheBlue" with 2.2σ (std.dev) and Show Fib Levels.
https://www.tradingview.com/script/efXI515C-Linear-Regression-Channel/
^Click image for a redirect to that script.

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In certain price action patterns:

A bearish reversal from a previously bullish move can indicate tops of a rally if the RSI moves from 0-40 to 60 (1)
A bullish reversal from a previously bearish move can indicate bottoms of a pullback if the RSI moves from 60-100 to 40 (2)

(USE THE LINEAR REGRESSION CHANNEL TO VALIDIFY THE RETRACEMENTS)

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(1)

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(2)

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