The Relative Strength Index( RSI )is a momentum indicatorused intechnical analysisthat measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of any financial asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100. The indicator was originally developed by J. Welles Wilder Jr. and introduced in his seminal 1978 book, "New Concepts in Technical Trading Systems." Smoothie RSI Cloud ( SRC) is a hybrid version of that same standard RSI which is a very powerful indicator that has every feature like the standard RSI , for example,it provides technical traders informationaboutbullish and bearish price momentum, and it is often plotted in “Existed pane below”. An asset is usually considered overbought when the SRCis above 70 and oversold when it is below 30.
A bullish divergenceoccurs when the SRCcreate an oversold reading followed by a higher low that matches correspondingly lower lows in the asset price.This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.A bearish divergence occurswhen the SRCcreates an overbought reading followed by a lower high that matches corresponding higher highs on the price.
This indicates weakness in the trend and bearish momentum getting stronger which can signal for a new short position.Being an advanced form of regular RSIour indicator usages some well-known other calculations like weighted moving average ( WMA )which determines trend direction more accurately than the simple moving average ( SMA ),and it assigns identical weights to all numbers in the data set. The smoothed period is also used which we can also set manually from setting and they all are calculated together with RSI value to make this wonderful indicator work in action.
It has beautiful colored cloudsthat aware market players of the current market sentiment & momentum.Light blue color indicates bullish sentimentsituation or bullish momentum strengthening and light red color indicates bearish sentiment situation or bearish momentum strengthens.Those can be used to judge the optimistic or pessimistic mode of the overall market in that period of time. SRClines are advance and it reflects light blue when the actual price of the asset is appreciating and its color change into light red when the actual price of assets is devaluing. The vertical transparent red color on the indicator indicates the SRCline crossing above orbelow 70 or 75 overboughtlines. While the light blue color indicates the SRCline crossing lower orabove 30 or 25 of the oversoldlevel.
WHAT’S THE BENEFIT OF USING SRC?
- Measures the magnitude of recent price changes toevaluate overbought oroversold conditionsin the price of any financial asset.
- Provides technical traderswith information about bullish a bearish potential price momentum.
- Beautiful coloured cloudsthat aware market players of the current market sentiment or momentum of any given asset price.
- Vertical transparentcolors over SRCs line indicating SRCs line crossing above or below a certain threshold oftwo extremes levels of the oscillator indicator
SRC"Smooth relative could"Showing overbought & oversold area
Notify when momentum-shifting
The advance version of RSI
All currency pair
Free E-book guideline
More than 80% winning rate
Non repaint indicat
How it works on Tradingview?
SRC Performance on Live Chart:
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