Sentimental RSI helps shorter term discretionary Traders to prepare for their trading decision. It doesn’t gives buy or sell signals but guides you to focus on right side of the trade most of the time especially when you holding period is for 2-3 days.
“Autocorrelation, also known as serial correlation, is the cross-correlation of a signal with itself. Informally, it is the similarity between observations as a function of the time lag between them” – Wikipedia. Autocorrelation value ranges between +1 to -1. Where autocorrelation above zero indicates positive correlation and negative value indicates negative correlation.
This is my first indicator from a series of Pinescript Indicators. And ofcouse supertrend is one of my favorite indicator. So love to take this opportunity to code it in Pinescript supported by Tradingview charts with huge community following.
Whenever we are coming up with a Trading solution for retail traders we make sure that the solution is interesting , meaningful and interactive as much as possible. And this time we want to do one step better in providing interactive charting functionality to our beloved readers to use the edge in the market at the fullest extent.