The Max The Minner is an RSI Bands with Min/Max indicator developed by Oberlunar, designed to provide a straightforward yet powerful enhancement to technical analysis. It combines the classic RSI indicator with a unique feature: localized price extremes. Despite the popularity of RSI-based tools, this specific implementation, which visually integrates RSI bands with local minima and maxima in such a simple and effective way, is not commonly found in the trading community as far as I know.
The indicator uses adjustable RSI overbought and oversold levels (defaulted to 70 and 30, respectively) with a customizable RSI length (default 14). It calculates upper and lower RSI bands, dynamically incorporating price deviations and comparing them to local maximum and minimum levels derived from a selected timeframe (default: 1D). This dual-layered approach helps traders pinpoint critical price zones where momentum shifts are likely, offering a nuanced perspective that extends beyond traditional RSI analysis.
Key features include visually distinct upper and lower RSI bands, shaded regions for better clarity, and breakout labels that mark when price action exceeds local minima or maxima.
Feedback from the community is highly valued to refine the indicator further, particularly regarding its usability, performance across different timeframes, and any potential feature additions that could improve its utility.