What it does
Connors RSI is a composite short-term oscillator built for mean-reversion trading, blending three components into one 0 to 100 reading. It averages a short RSI of price (typically 3 periods), an RSI of the current up/down streak length (typically 2 periods), and the percent rank of the latest one-bar price change over roughly 100 bars. The result is far more sensitive than standard RSI and is designed to flag brief overextensions.
How to add it
Click Indicators (ƒx) in the header.
Search “Connors RSI” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Classic mean-reversion rules: look for longs when Connors RSI drops below 10 (or 5 for stricter entries) and consider exits or shorts above 90 (or 95).
- Trade extremes in the direction of the longer-term trend, for example only taking sub-10 readings when price is above its 200-day moving average.
- Positions are meant to be short-lived: exit when the reading returns to a neutral zone such as 50 to 70, not at a fixed profit target.
- It was designed for daily bars on liquid stocks and ETFs; test carefully before applying the standard thresholds to intraday or thin instruments.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| RSI Length | number | 3 | 1–50 |
| UpDown Length | number | 2 | 1–50 |
| ROC Length | number | 100 | 1–500 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| CRSI | line | #2196F3 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 2 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Reference levels
| Level | Value |
|---|---|
| UpperLimit | 70 |
| LowerLimit | 30 |
Level values, colors and line styles are editable in settings.
Tips
- Double-click the plot to open settings directly, skipping the legend hover.
- The pane keeps its height in saved layouts, so size it once and it survives reloads.
- Resize the pane by dragging its divider; collapse it from the legend row when you need the space back.
Watch out for
- It is a mean-reversion tool: in a strong directional trend or a crash it can stay pinned at an extreme while losses on fade trades compound.
- Its extreme sensitivity generates many signals, so without a trend filter and disciplined exits it degrades into noise trading.