Strength Index I2-SI

21 Jan 2023

Idea:
Enhance the Stoch RSI with DMI to get the visualization of the strength movement.

Concept:
(Note that we take the close to get the closing price).
-Combination of 2 Stoch RSI (using value K): 1 is UP, 1 is DOWN (these settings have been customized).
-Every time they cross, it calculates the direction of 3 nearly previous crossings to get the color of the current line.
-The value has been re-calculated with the processed value from ADX and DI- (That's why it can be more than 100 or -100 in some cases).
-RSI Overbuy and oversell are removed because the value could be beyond it.

How it works:
1. The line is show as the strength index of bars
- Green means the up strength is strong.
- Red means the down strength is strong.
- Gray means the previous strength is getting week.
2. This one can be used to find divergence.
3. This indicator provides a warning signal when the color of the line changes:
- Change color:
+Turn red: "Down Red"
+Turn green: "Up Green"
+Turn gray: "Down Gray"/"Up Gray"

Suitable time frames:
15m, 4h, 1D, 1W

* Please note that this logic does not attempt to predict future prices or 100% accurate signal.
(INVITE ONLY indicator. Please direct message or visit website if you want to try it out)
Hope you guys enjoy!

Examples:
BTCUSD 1D


XAUUSD 4H


EURUSD 1H


SPX 15m

5 Apr 2023

Catatan Rilis

Fixing some bug about line color change.

20 Jul 2024

Catatan Rilis

Separate into many terms possible to:
1. Draw bias.


2. Detect divergence.

3 Apr

Catatan Rilis

Upgrade to V6