i believe this indicator is a good one , when i see in TV platform
RSI TREND LINE with BREAKOUT indicator
script is shown but not sure its fully or not.. does it helps you to develop this.. !
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © HoanGhetti
//@version=5
indicator("RSI Trendlines with Breakouts [HG]", precision = 2, max_labels_count = 500, max_lines_count = 500)
import HoanGhetti/SimpleTrendlines/3 as tl
g_trendlines = 'Trendline Settings', g_conditions = 'Conditions', g_styling = 'Styling', g_timeframe = 'Timeframe'
input_timeframe = input.timeframe(defval = '', title = 'Timeframe', group = g_timeframe)
input_pLen = input.int(defval = 4, title = 'Lookback Range', minval = 1, group = g_trendlines, tooltip = 'How many bars to determine when a swing high/low is detected.')
input_rLen = input.int(defval = 14, title = 'RSI Length' , minval = 1, group = g_trendlines)
input_rSrc = input.source(defval = close, title = 'RSI Source', group = g_trendlines)
input_repaint = input.string(defval = 'On', title = 'Repainting', group = g_conditions, options = ['On', 'Off: Bar Confirmation'], tooltip = 'Bar Confirmation: Generates alerts when candle closes. (1 Candle Later)')
input_rsiDiff = input.int(defval = 3, title = 'RSI Difference', group = g_conditions, tooltip = 'The difference between the current RSI value and the breakout value.\n\nHow much higher in value should the current RSI be compared to the breakout value in order to detect a breakout?')
input_rsiCol = input.color(defval = color.blue, title = 'RSI Color', group = g_styling)
input_width = input.int(defval = 2, title = 'Line Width', minval = 1, group = g_styling)
input_lblType = input.string(defval = 'Simple', title = 'Label Type', group = g_styling, options = ['Full', 'Simple'])
input_lblSize = input.string(defval = size.small, title = 'Label Size', group = g_styling, options = [size.huge, size.large, size.normal, size.small, size.tiny])
input_pLowCol = input.color(defval = color.red, title = 'Pivot Low', inline = 'col', group = g_styling)
input_pHighCol = input.color(defval = #089981, title = 'Pivot High', inline = 'col', group = g_styling)
input_override = input.bool(defval = false, title = 'Override Text Color', group = g_styling, inline = 'override')
input_overCol = input.color(defval = color.white, title = ' ', group = g_styling, inline = 'override')
lblText = switch input_lblType
'Simple' => 'Br'
'Full' => 'Break'
repaint = switch input_repaint
'On' => true
'Off: Bar Confirmation' => false
rsi_v = ta.rsi(input_rSrc, input_rLen)
rsi = input_timeframe == '' ? rsi_v : request.security(syminfo.tickerid, input_timeframe, rsi_v, lookahead = barmerge.lookahead_on)
pl = fixnan(ta.pivotlow(rsi, 1, input_pLen))
ph = fixnan(ta.pivothigh(rsi, 1, input_pLen))
pivot(float pType) =>
pivot = pType == pl ? pl : ph
xAxis = ta.valuewhen(ta.change(pivot), bar_index, 0) - ta.valuewhen(ta.change(pivot), bar_index, 1)
prevPivot = ta.valuewhen(ta.change(pivot), pivot, 1)
pivotCond = ta.change(pivot) and (pType == pl ? pivot > prevPivot : pivot < prevPivot)
pData = tl.new(x_axis = xAxis, offset = input_pLen, strictMode = true, strictType = pType == pl ? 0 : 1)
pData.drawLine(pivotCond, prevPivot, pivot, rsi)
pData
breakout(tl.Trendline this, float pType) =>
var bool hasCrossed = false
if ta.change(this.lines.startline.get_y1())
hasCrossed := false
this.drawTrendline(not hasCrossed)
condType = (pType == pl ? rsi < this.lines.trendline.get_y2() - input_rsiDiff : rsi > this.lines.trendline.get_y2() + input_rsiDiff) and not hasCrossed
condition = repaint ? condType : condType and barstate.isconfirmed
if condition
hasCrossed := true
this.lines.startline.set_xy2(this.lines.trendline.get_x2(), this.lines.trendline.get_y2())
this.lines.trendline.set_xy2(na, na)
this.lines.startline.copy()
label.new(
bar_index,
this.lines.startline.get_y2(),
text = lblText, color = pType == pl ? color.new(input_pLowCol, 50) : color.new(input_pHighCol, 50),
size = input_lblSize, style = pType == pl ? label.style_label_lower_left : label.style_label_upper_left,
textcolor = pType == pl ? (input_override ? input_overCol : input_pLowCol) : input_override ? input_overCol : input_pHighCol)
hasCrossed
method style(tl.Trendline this, color col) =>
this.lines.startline.set_color(col)
this.lines.startline.set_width(input_width)
this.lines.trendline.set_color(col)
this.lines.trendline.set_width(input_width)
this.lines.trendline.set_style(line.style_dashed)
plData = pivot(pl)
phData = pivot(ph)
plData.style(input_pLowCol)
phData.style(input_pHighCol)
cu = breakout(plData, pl)
co = breakout(phData, ph)
hline(70, title = 'Overbought', color = input_pHighCol, linestyle = hline.style_dotted)
hline(30, title = 'Oversold', color = input_pLowCol, linestyle = hline.style_dotted)
plot(rsi, title = 'Relative Strength Index', linewidth = 2, color = input_rsiCol)
alertcondition(ta.change(plData.lines.startline.get_y1()), 'New Pivot Low Trendline')
alertcondition(ta.change(cu) and cu, 'Pivot Low Breakout')
alertcondition(ta.change(phData.lines.startline.get_y1()), 'New Pivot High Trendline')
alertcondition(ta.change(co) and co, 'Pivot High Breakout')****************************
another idea my way which i manually drawn S/R line in RSI line
above 50 up trend and below down trend
see.. this is also stronger...
it is possible please let me inform, i can share rules.
