RSI PRECISION PLUS MACD & SMA Signals (FREE ON TRADINGVIEW)

This is an enhanced version of RSI PRECISION available for free on TradingView. The new oscillator combines RSI readings and key technical analysis signals into a single tool.

• The indicator is designed to enhance and expand the classic Relative Strength Index and is the second version of the RSI PRECISION series developed by Giorgos Protonotarios.

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🆕 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 momentum to provide more accurate signals on longer timeframes and during choppy market conditions. It is especially useful for analyzing volatile markets, such as cryptocurrencies and equities.

In this enhanced version, the RSI PRECISION formula remains unchanged, but additional trading signals have been added:

• 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 shown in the following chart, RSI PRECISION provides exceptional breakout signals.

Chart: RSI Precision on Bitcoin

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1️⃣ MACD BULLISH & BEARISH CROSSOVERS

MACD signals are shown as green or red dots (•). The default settings use the standard MACD parameters (12, 26, 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: On lower timeframes, MACD generates too many signals. You can turn off “MACD Bullish & Bearish Crossovers” by going to ‘Settings’, then ‘Style’, and unchecking ‘Bullish MACD Cross’ and ‘Bearish MACD Cross’.

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2️⃣ SMA CROSSOVERS (GOLDEN & DEATH CROSS)

SMA crossovers are shown as (X). By default, the fast SMA is set to 50 periods and the slow SMA to 200 periods, but both settings can be customized.

(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 set the fast SMA to 1 period, it will follow the closing price. This allows you to receive signals when the price crosses a key moving average, such as SMA(200). You can adjust the periods for both SMAs in ‘Settings’.

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3️⃣ RSI PRECISION CROSSOVERS

This signal represents a bullish or bearish RSI PRECISION cross. By default, it is set to 5 for a bullish crossover and 100 for a bearish crossunder. These values 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

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🎯 RSI PRECISION OBJECTIVES

Here are the key objectives of the new tool:

① Identify overbought and oversold market levels in a simple, user-friendly way.

② Provide precise calculations near market tops and bottoms, where price volatility is high.

③ Offer accurate readings on longer timeframes (monthly, weekly), where RSI values are often unclear.

④ Provide three types of trading signals: RSI, MACD, and SMA.

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🧮 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

👉 Note: You can customize the entire formula via 'Settings'.

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🛠️ RSI PRECISION BASIC SETTINGS

By clicking "Settings," you will find a wide range 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 (c)