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The RSI_Slowdown indicator is a powerful VertexFx client side indicator script to identify trend reversals. It is based on RSI indicator and the idea that as price slows down the RSI also slows down and tops (or bottoms) out thus indicating a change in direction.
As the price stagnates, the RSI indicator reverses it direction from the overbought and oversold zones. This indicator captures the reversal at these overbought and oversold levels.
A bearish reversal occurs when the RSI is above the LEVEL_MAX value and the RSI remains sideways. In such situations it is recommended to exit LONG positions.
A bullish reversal occurs when the RSI is be low the LEVEL_MIN value and the RSI remains sideways. In such situations it is recommended to exit SHORT positions.
As the price stagnates, the RSI indicator reverses it direction from the overbought and oversold zones. This indicator captures the reversal at these overbought and oversold levels.
A bearish reversal occurs when the RSI is above the LEVEL_MAX value and the RSI remains sideways. In such situations it is recommended to exit LONG positions.
A bullish reversal occurs when the RSI is be low the LEVEL_MIN value and the RSI remains sideways. In such situations it is recommended to exit SHORT positions.
