SWRSI Trends (Source Out)

Overview SWRSI Trends is a specialized momentum indicator based on the Relative Strength Index (RSI). While it functions as a visual trading aid with bar coloring and signal shapes, its primary purpose is to serve as a modular signal provider for other strategies and backtesting bots on TradingView.

It detects trend reversals by monitoring RSI crossovers at specific custom levels (Default: 60 and 40), rather than the standard 70/30 extreme zones.

Key Features

1. External Source Outputs (Connect to Bots) This script includes hidden plot outputs specifically designed to interface with other scripts.

RSI LONG SIGNAL (Source): Outputs a value of 1 when a Long condition is met, 0 otherwise.

RSI SHORT SIGNAL (Source): Outputs a value of 1 when a Short condition is met, 0 otherwise.

Usage: You can select these outputs as the "Entry Source" in compatible Strategy scripts or Backtest Bots without needing to copy-paste code.

2. Signal Logic

Long Signal: Triggered when the RSI line crosses OVER the Lower Threshold (Default: 40). This indicates momentum is recovering from the lower zone.

Short Signal: Triggered when the RSI line crosses UNDER the Upper Threshold (Default: 60). This indicates momentum is cooling off from the upper zone.

3. Visual Aids

Bar Coloring: Candles change color based on RSI position (Green above 60, Red below 40).

Dynamic Line: The RSI line changes color to reflect the current zone.

Settings

RSI Length: The lookback period for calculation (Default: 14).

Short Threshold: Level for bearish crossover (Default: 60).

Long Threshold: Level for bullish crossover (Default: 40).

Color Bars: Toggle candle painting on/off.

How to Connect to Another Indicator

Add SWRSI Trends to your chart.

Open the settings of your Target Strategy/Bot (e.g., SwietcherBot).

In the "Source" or "External Signal" input field, select "SWRSI Trends: RSI LONG SIGNAL" or "RSI SHORT SIGNAL" from the dropdown menu.