Asymmetrical RSI is an indicator that computes a custom relative strength index from the rate of change of a user-selected source. It plots the resulting ARSI line in a separate pane with color coding that turns green above the overbought level and red below t
Indicator · Pine Script v4 · Own pane
alertcondition() on multiple conditions
This indicator plots the RSI calculated over 20 periods on the price chart.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code69
Settings4inputs
LicenceNone stated
Last update2 years ago2 Mar 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
alertcondition() on multiple conditions detects upward crosses of the 50 level for long signals and downward crosses for short signals when enabled by user inputs. Signals appear as plotchar symbols on the chart with a horizontal line at 50. The alertcondition function triggers a single alert when either long or short entry occurs. Inputs allow toggling detection of longs or shorts, adjusting the RSI period, and setting a bull level threshold. No stop loss or position sizing is included as it is a pure signal generator.
- RSI crossover detection
- long short signals
- compound alert
- plotchar entries
- alert triggering
Details
Published by
amico1234 on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum
Markets
Forex
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Detect Longs | bool | true | i_detectLongs |
| Detect Shorts | bool | true | i_detectShorts |
| i_period | int | 20 | i_period |
| i_bullLevel | int | 55 | i_bullLevel |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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