The premise is very simple - the study paints a continuous line on the price chart when the RSI is above 51 (entry or long threshold) or below 48 (exit or short threshold.) The user defines the length of RSI, in this case 34 and 55. Obviously two copies of the study would be loaded
Below screenshot is from today 9-12 on a one (1) minute chart /CL chart
Cyan (light blue) is RSI 34 (long/ entry)
Blue is RSI 55 (long/ entry)
Orange is RSI 34 (short/ exit) showing brief failure
Red is is RSI 55 (short/ exit) showing brief failure
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
Any help would be much appreciated. (I'm more of a hacker than a coder.)
Add the Spreadsheet Study study:
-Set the Chart Region to 1.
-Give it a name in the Spreadsheet Name field.
-On the Subgraphs tab, set the Draw Styles of SG1-SG4 to Dash. Set Line Styles and colors.
On the spreadsheet, put these formulas in cells K3-N3, respectively:
where ID1 is the RSI 34, and ID2 is the RSI 55; edit as necessary.
You could substitute the 51 and 48 with absolute references to user variables in H1 and H2:
Or you could substitute the 51 and 48 with references to the respective RSI's Line1 and Line2, assuming you set these to 51 and 48 in the RSI study:
You may want to edit cells K2-N2 with titles:
RSI 34 long
RSI 55 long
RSI 34 short
RSI 55 short