UCS_RSI Breakout
RSI Breakout indicator, typically used on longer time frame (under Mid CAP) to find the next explosive stock. Can be used on monthly chart with 36 Months breakout period. Weekly with 52 Weeks Breakout period, 100 Days on daily, for Swing trading.
List of All my Indicators - www.tradingview.com/p/stocks/?sort=recen...
GL.
List of All my Indicators - www.tradingview.com/p/stocks/?sort=recen...
GL.
Uday C Santhakumar
study(title="UCS_Relative Strength Index With Breakout", shorttitle="UCS_RSI W/BO") src = close len1 = input(14, minval=1, title="Primary RSI Length") up1 = rma(max(change(src), 0), len1) down1 = rma(-min(change(src), 0), len1) rsi1 = down1 == 0 ? 100 : up1 == 0 ? 0 : 100 - (100 / (1 + up1 / down1)) plot(rsi1, color=black) length = input(60, minval=1, title="Breakout Length") lower = lowest(rsi1,length)[1] upper = highest(rsi1,length)[1] basis = avg(upper, lower)[1] bo = rsi1 > upper bd = rsi1 < lower bcolor = bo ? green : bd ? red : na plot(100, color=bcolor, style=circles, linewidth=4) //plot(bo, color=green, title = 'Breakout', style = columns) //plot(bd, color=red, title = 'Breakdown', style = columns) h1=hline(70, "Overbought", red, solid, 3) h2=hline(30, "Oversold", green, solid, 3) h3=hline(50, "Median", black, dashed, 1) fill(h1,h2, gray, 80, "Consolidation Zone")
