RSI PRECISION PLUS (FREE TRADINGVIEW INDICATOR)

This is an enhanced version of RSI PRECISION that you can use on TradingView for free. The new oscillator incorporates RSI readings and key TA signals into a single tool.

RSI PRECISION PLUS & WHAT IS NEW

RSI PRECISION is an improved version of the classic RSI (Relative Strength Index). The oscillator combines advanced RSI readings with price volatility and price momentum to offer more accurate readings at longer timeframes and during choppy market conditions. The new oscillator is ideal for analyzing volatile markets, such as the cryptocurrency and equity markets.

In this enhanced version, the RSI Precision formula remains the same, however, there are additional trading signals:

• MACD Crossovers (•) -New
• SMA Death/Golden Crosses (x) -New
• RSI Crossovers/Crossunders (▲▼)

■ You can add RSI PRECISION here on TradingView.com, and of course, it is 100% free. » https://www.tradingview.com/script/kBpWBCXU-RSI-PRECISION-MACD-SMA-Signals/

As you can see in the following chart, RSI Precision offers exceptional breakout signals

Chart: RSI Precision on Bitcoin

 

MACD BULLISH & BEARISH CROSSOVERS

The MACD signals are visualized by a green/red dot (•). The default settings are the standard MACD settings (12,6,9).

(i) Bullish MACD cross

• Symbol: Green Dot (•) on the Top
• Event: MACD crosses above its signal line

(ii) Bearish MACD cross

• Symbol: Red Dot (•) on the Bottom
• Event: MACD crosses below its signal line

NOTE: In lower timeframes, MACD generates too many signals. You can switch off “MACD BULLISH & BEARISH CROSSOVERS” by clicking on ‘SETTINGS’, then ‘STYLE’, and then unselecting ‘Bullish MACD Cross’ and ‘Bearish MACD Cross’.

 

SMA CROSSOVERS (GOLDEN & DEATH CROSS)

The SMA crossovers are visualized by (X). By default, 50 periods for the fast SMA and 200 periods for the slow SMA (both are customizable).

(i) Bullish SMA Cross

• Symbol: Green (X) on the Top
• Event: The fast SMA crosses above the Slow SMA

(ii) Bearish SMA Cross

• Symbol: Red (X) on the Bottom
• Event: The fast SMA crosses below the Slow SMA

NOTE: If you change the fast SMA to 1 period, the fast SMA becomes the closing price. Therefore, you can receive signals when the price crosses a key MA, for example, SMA(200). You can adjust the periods for both SMAs (Settings).

 

RSI PRECISION CROSSOVERS

This signal corresponds to a bullish/bearish RSI Precision cross. By default, it is 5 for a bullish crossover and 100 for a bearish crossunder. Of course, these numbers are indicative and can be customized.

(i) Bullish RSI Precision Cross

• Symbol: Green arrow (▲) on the Bottom
• Event: The RSI Precision crosses above level 5

(ii) Bearish RSI Precision Cross

• Symbol: Red arrow (▼) on the Top
• Event: The RSI Precision crosses below level 100

 

RSI PRECISION OBJECTIVES

(1) identify overbought/oversold market levels in a simple and user-friendly manner

(2) make precise calculations near market tops and bottoms, where price volatility is always booming

(3) make precise calculations on longer time frames (monthly, weekly) where RSI readings are hardly readable

(4) offer three types of trading signals (RSI, MACD, SMA)

 

RSI PRECISION FORMULA CALCULATIONS

The RSI PRECISION formula consists of 3 different modules:

(a) Relative Strength Index readings

(b) Price Volatility module

(c) RSI Volatility module

You can customize the entire formula via 'Settings'.

 

RSI PRECISION BASIC SETTINGS

By clicking "Settings" you will find a great plethora of parameters.

• RSI PERIODS: -By default, 14
• RSI PRECISION FORMULA

(i) RSI FACTOR (%): By default, 100%

(ii) PERIODIC PRICE VOLATILITY (%): By default, 100%

(iii) RSI VOLATILITY (%): By default, 5%

• RSI CROSSOVER/CROSSUNDER LEVELS: By default, 5 for a bullish crossover and 100 for a bearish crossunder
• PERIODS FOR SMA CROSSOVERS: By default, 50 periods for the fast SMA and 200 periods for the slow SMA

 

■ ADD RSI PRECISION FOR FREE: You can add RSI PRECISION here on TradingView.com, it is 100% free:

» https://www.tradingview.com/script/kBpWBCXU-RSI-PRECISION-MACD-SMA-Signals/

 

□ RSI Precision (Plus MACD & SMA Signals)

Coded by Giorgos Protonotarios, Financial Analyst

for TradingCenter.org, March 2022