Calculates the standard Money Flow Index (MFI) oscillator alongside an exponential moving average signal line in a separate pane. The script visually highlights trend conditions through dynamic ribbon filling, optional difference histogram bars, and overbought
Indicator · Pine Script v4 · Own pane
Custom RSI of VWAP
Calculates a Relative Strength Index based on the Volume Weighted Average Price rather than standard close prices.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code315
Settings3inputs
LicenceNone stated
Last update2 years ago20 Jan 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
Custom RSI of VWAP plots the resulting indicator curve along with customizable upper and lower threshold bounds in a separate pane. Traders can adjust the RSI length and bound levels through the input settings to modify overbought and oversold reference lines for different charting needs.
- RSI indicator calculated on VWAP source
- Customizable upper and lower bounds
- Adjustable RSI length input
- Separate pane plot display
Details
Published by
RobACurtis on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Volume
Markets
Any symbol
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.
Topics
pinescripttradingtradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Rsi Length | int | 14 | length |
| Upper Bound | int | 70 | upper_bound |
| Lower Bound | int | 30 | lower_bound |
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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