OPEN-SOURCE SCRIPT
Pierce Strength Index
Updated
This is a combination of RSI, Elliot Wave Trend, and SqzMomentum that helps to predict the likelihood of short term buy and sell opportunities and local maxima.
Changing color of the line in addition to when the line exceeds or crosses under the threshold lines can act as potential buy/sell signals.
Changing color of the line in addition to when the line exceeds or crosses under the threshold lines can act as potential buy/sell signals.
Release Notes
Updated normalization factorsOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.