OPEN-SOURCE SCRIPT
[MAD] almost RSI
Updated
I continue to add things to the multibit ready indicators:
This is a modified RSI indicator with some useful additions to make it bottrading ready:
Centered around 0, so from +50 to -50.
Short-Triggerline
Long Triggerline
following value mods are possible:
POW factor --> rsi^POW
final smoothings:
SMA smoothing (level 1)
EMA smoothing (level 2)
switch all smoothings on/off
signals on:
Crossout (moves outside the high/low).
Crossin (moves back inside the high/low)
Direction change outside
Direction change inside
Signal filter output
This is a multibit capable indicator, so signal and filter can be exported to a multibit capable daisychain.
More information can be found here:
have fun
This is a modified RSI indicator with some useful additions to make it bottrading ready:
Centered around 0, so from +50 to -50.
Short-Triggerline
Long Triggerline
following value mods are possible:
POW factor --> rsi^POW
final smoothings:
SMA smoothing (level 1)
EMA smoothing (level 2)
switch all smoothings on/off
signals on:
Crossout (moves outside the high/low).
Crossin (moves back inside the high/low)
Direction change outside
Direction change inside
Signal filter output
This is a multibit capable indicator, so signal and filter can be exported to a multibit capable daisychain.
More information can be found here:
have fun
Release Notes
Better standard settingsRelease Notes
Patch Multibit_passResorting settingsbox
Cleanup
no function change
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.