Adding RSI-Based Support and Resistance Pivots to Rocket RSI

Summary

This indicator description explains an extension to a previously published Rocket RSI study: it calculates pivot levels from the RSI series itself and displays them alongside the oscillator. The user can choose to show only the pivot, or the pivot with one, two, or three levels of support and resistance. These levels are therefore derived from RSI values rather than directly from price, making the display a way to frame oscillator readings with reference bands.

A selectable timeframe acts as the boundary for calculating the pivots, while the RSI calculation remains on the chart’s current timeframe. This distinction matters when interpreting the plotted levels, because changing the pivot timeframe does not also change the oscillator’s sampling timeframe. The description offers no formulas, parameter values, trading rules, examples, or performance evidence, and recommends using the indicator as the original Rocket RSI was used. Its usefulness is consequently limited to understanding the indicator’s display options and timeframe behavior.

Key ideas

• The indicator calculates pivot levels from RSI values rather than price values.
• Users can display a central pivot with up to three support and resistance levels.
• The selected timeframe sets the pivot calculation boundaries.
• RSI itself remains calculated on the chart’s current timeframe.
• The description supplies no trading rules or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.