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ASilk

MTF RSI EMA snakes

ASilk  
Relative Strength Index (RSI) Exponential Moving Average (EMA) Trend Analysis
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relativestrengthindex ema trendanalysis
This simple script plots 2 moving averages of RSI at 2 selected timeframes.

Setting each set of moving averages to a higher timeframe allows for monitoring of momentum at that time frame, and comparison of momentum across timeframes.

Crossovers of the respective averages of different time frames can be used as trade signals.

Having the leading average above the slower average on both timeframes can be an effective trend filter.
Open-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 a 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.

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