Tango convergence indicator between the RSI indicator (closing prices are used) and the closing price. Maybe you will find a similarity with the well-known ASC_Trend, but I note that they are not very similar and I did not design this indicator based on its principles.
It works like this: first we
look for a divergence or convergence between the RSI and the closing
price, then if there is one, we find the maximum (MAX) and minimum
(MIN) RSI values (we search up to the point of divergence or
convergence) , if the current value
RSI >=
MAX-((MAX-MIN)/100)*POROG,
then the arrow is up,
if RSI <=
MIN+((MAX-MIN)/100)*POROG,
then the arrow is lowered and if
RSI
> MIN+((MAX-MIN)/100)*POROG and RSI <
MAX-((MAX-MIN)/100)*POROG,
then an empty square is drawn.
Download
https://drive.google.com/file/d/1WSI7HXVVn1SFhzeOcoeJVek5vAhaoWbv/view?usp=sharing
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