Technical analysis by wakefulMagpie33326 about Symbol XRP: Buy recommendation (1/17/2025)

// © GainzAlgo//version=5indicator('GainzAlgo Pro', overlay=true, max_labels_count=500)candle_stability_index_param = input.float(0.5, 'Candle Stability Index', 0, 1, step=0.1, group='Technical', tooltip='Candle Stability Index measures the ratio between the body and the wicks of a candle. Higher - more stable.')rsi_index_param = input.int(50, 'RSI Index', 0, 100, group='Technical', tooltip='RSI Index measures how overbought/oversold is the market. Higher - more overbought/oversold.')candle_delta_length_param = input.int(5, 'Candle Delta Length', 3, group='Technical', tooltip='Candle Delta Length measures the period over how many candles the price increased/decreased. Higher - longer period.')disable_repeating_signals_param = input.bool(false, 'Disable Repeating Signals', group='Technical', tooltip='Removes repeating signals. Useful for removing clusters of signals and general clarity')GREEN = color.rgb(29, 255, 40)RED = color.rgb(255, 0, 0)TRANSPARENT = color.rgb(0, 0, 0, 100)label_size = input.string('normal', 'Label Size', options=['huge', 'large', 'normal', 'small', 'tiny'], group='Cosmetic')label_style = input.string('text bubble', 'Label Style', ['text bubble', 'triangle', 'arrow'], group='Cosmetic')buy_label_color = input(GREEN, 'BUY Label Color', inline='Highlight', group='Cosmetic')sell_label_color = input(RED, 'SELL Label Color', inline='Highlight', group='Cosmetic')label_text_color = input(color.white, 'Label Text Color', inline='Highlight', group='Cosmetic')stable_candle = math.abs(close - open) / ta.tr > candle_stability_index_paramrsi = ta.rsi(close, 14)bullish_engulfing = close[1] < open[1] and close > open and close > open[1]rsi_below = rsi < rsi_index_paramdecrease_over = close < close[candle_delta_length_param]bull = bullish_engulfing and stable_candle and rsi_below and decrease_over and barstate.isconfirmedbearish_engulfing = close[1] > open[1] and close < open and close < open[1]rsi_above = rsi > 100 - rsi_index_paramincrease_over = close > close[candle_delta_length_param]bear = bearish_engulfing and stable_candle and rsi_above and increase_over and barstate.isconfirmedvar last_signal = ''if bull and (disable_repeating_signals_param ? (last_signal != 'buy' ? true : na) : true) if label_style == 'text bubble' label.new(bull ? bar_index : na, low, 'BUY', color=buy_label_color, style=label.style_label_up, textcolor=label_text_color, size=label_size) else if label_style == 'triangle' label.new(bull ? bar_index : na, low, 'BUY', yloc=yloc.belowbar, color=buy_label_color, style=label.style_triangleup, textcolor=TRANSPARENT, size=label_size) else if label_style == 'arrow' label.new(bull ? bar_index : na, low, 'BUY', yloc=yloc.belowbar, color=buy_label_color, style=label.style_arrowup, textcolor=TRANSPARENT, size=label_size) last_signal := 'buy'if bear and (disable_repeating_signals_param ? (last_signal != 'sell' ? true : na) : true) if label_style == 'text bubble' label.new(bear ? bar_index : na, high, 'SELL', color=sell_label_color, style=label.style_label_down, textcolor=label_text_color, size=label_size) else if label_style == 'triangle' label.new(bear ? bar_index : na, high, 'SELL', yloc=yloc.abovebar, color=sell_label_color, style=label.style_triangledown, textcolor=TRANSPARENT, size=label_size) else if label_style == 'arrow' label.new(bear ? bar_index : na, high, 'SELL', yloc=yloc.abovebar, color=sell_label_color, style=label.style_arrowdown, textcolor=TRANSPARENT, size=label_size) last_signal := 'sell'alertcondition(bull, 'BUY Signals', 'New signal: BUY')alertcondition(bear, 'SELL Signals', 'New signal: SELL')