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Rsivolume

Volume-Weighted RSI with Adaptive SmoothingThis indicator is designed to provide traders with insights into the relative strength of a security by incorporating volume-weighted elements, effectively combining the concepts of Relative Strength Index (RSI) and volume-weighted averages to generate meaningful trading signals. The indicator calculates the traditional RSI, which measures the speed and change of price movements, as well as the volume-weighted RSI, which considers the influence of trading volume on price action. It then applies adaptive smoothing to the volume-weighted RSI, allowing for customization of the smoothing process. The resulting smoothed volume-weighted RSI is plotted alongside the original RSI, providing traders with a comprehensive view of the price strength dynamics. The line coloration in this indicator is designed to provide visual cues about the relationship between the RSI and the volume-weighted RSI. When the RSI line is above or equal to the volume-weighted RSI line, it suggests a potentially bullish condition with positive market momentum. In such cases, the line is colored lime. Conversely, when the RSI line (fuchsia) is below the volume-weighted RSI line, it indicates a potentially bearish condition with negative market momentum. The line color is set to fuchsia. By observing the line color, traders can quickly assess the relative strength between the RSI and the volume-weighted RSI, aiding their decision-making process. The bar color and background color further enhance the visual interpretation of the indicator. The bar color reflects the RSI's relationship with the volume-weighted RSI and the predefined thresholds. If the RSI line is above both the volume-weighted RSI line and the overbought threshold (70), the bar color is set to lime, indicating a potentially overbought condition. Conversely, if the RSI line is below both the volume-weighted RSI line and the oversold threshold (30), the bar color is set to fuchsia, suggesting a potentially oversold condition. When the RSI line is between these two thresholds, the bar color is set to yellow, indicating a neutral or intermediate state. The background color, displayed with a semi-transparent shade, provides additional context by reflecting the prevailing market conditions. It turns lime if the volume-weighted RSI is above the overbought threshold, fuchsia if below the oversold threshold, and yellow if it falls between these two thresholds. This coloration scheme aids traders in quickly assessing market conditions and potential trading opportunities. Calculations: -- RSI Calculation : The traditional RSI is calculated based on the price movements of the asset. The up and down movements are determined, and exponential moving averages are used to smooth the values. The RSI value ranges from 0 to 100, with levels above 70 indicating overbought conditions and levels below 30 indicating oversold conditions. -- Volume-Weighted RSI Calculation : The volume-weighted RSI incorporates the trading volume of the asset into the calculations. The closing price is multiplied by the corresponding volume, and the average is taken over a specific length. The up and down movements are smoothed using exponential moving averages to generate the volume-weighted RSI value. -- Adaptive Smoothing : The indicator offers an adaptive smoothing option, allowing traders to customize the smoothing process of the volume-weighted RSI. By adjusting the smoothing length, traders can fine-tune the responsiveness of the indicator to changes in market conditions. Smoothing helps reduce noise and enhances the clarity of the signals. Interpretation: The indicator provides two main components for interpretation: -- RSI : The traditional RSI reflects the price momentum and potential overbought or oversold conditions. Traders can look for RSI values above 70 as potential overbought signals, suggesting a possible price reversal or correction. Conversely, RSI values below 30 indicate potential oversold signals, indicating a potential price rebound or rally. -- Volume-Weighted RSI : The volume-weighted RSI incorporates trading volume, which provides insights into the strength of price movements. When the volume-weighted RSI is above the traditional RSI, it suggests that the buying pressure supported by higher volume is stronger, potentially indicating a more reliable trend. Conversely, when the volume-weighted RSI is below the traditional RSI, it suggests that the selling pressure supported by higher volume is stronger, potentially indicating a more significant price reversal. Potential Strategies: -- Overbought and Oversold Signals : Traders can utilize the RSI component of the indicator to identify overbought and oversold conditions. A potential strategy is to consider taking short positions when the RSI is above 70 and long positions when the RSI is below 30. These levels can act as dynamic support and resistance areas, indicating possible price reversals. -- Confirmation with Volume : Traders can use the volume-weighted RSI as a confirmation tool to validate price movements. When the volume-weighted RSI is above the traditional RSI, it may provide additional confirmation for long positions, suggesting stronger buying pressure. Conversely, when the volume-weighted RSI is below the traditional RSI, it may provide confirmation for short positions, indicating stronger selling pressure. -- Trend Reversal Strategy : Watch for the volume-weighted RSI to reach extreme levels above 70 (overbought) or below 30 (oversold). Look for a reversal signal where the RSI line (green or fuchsia) crosses below or above the volume-weighted RSI line. Enter a trade when the reversal signal occurs, and the RSI line changes color. Exit the trade when the RSI line crosses back in the opposite direction or reaches the opposite extreme level. -- Divergence Strategy : Compare the direction of the RSI line (green or fuchsia) with the volume-weighted RSI line. A bullish divergence occurs when the RSI line makes higher lows while the volume-weighted RSI line makes lower lows. A bearish divergence occurs when the RSI line makes lower highs while the volume-weighted RSI line makes higher highs. Once a divergence is identified, wait for the RSI line to cross above or below the volume-weighted RSI line as confirmation of a potential trend reversal. Consider using additional indicators or price action analysis to time the entry more accurately. Use stop-loss orders and profit targets to manage risk and secure profits. -- Trend Continuation Strategy : Assess the overall trend direction by observing the RSI line's position relative to the volume-weighted RSI line. When the RSI line consistently stays above the volume-weighted RSI line, it indicates a bullish trend, while the opposite suggests a bearish trend. Look for temporary pullbacks within the ongoing trend where the RSI line (green or fuchsia) touches or crosses the volume-weighted RSI line. Enter trades in the direction of the dominant trend when the RSI line crosses back in the trend direction. Exit the trade when the RSI line starts to deviate significantly from the volume-weighted RSI line or when the trend shows signs of weakening through other technical or fundamental factors. Limitations: -- False Signals : Like any indicator, the "Volume-Weighted RSI with Adaptive Smoothing" may produce false signals, especially during periods of low liquidity or choppy market conditions. Traders should exercise caution and consider using additional confirmation indicators or tools to validate the signals generated by this indicator. -- Lagging Nature : The indicator relies on historical price data and volume to calculate the RSI and volume-weighted RSI. As a result, the signals provided may have a certain degree of lag compared to real-time price action. Traders should be aware of this inherent lag and consider combining the indicator with other timely indicators to enhance the accuracy of their trading decisions. -- Parameter Sensitivity : The indicator's effectiveness can be influenced by the choice of parameters, such as the length of the RSI, smoothing length, and adaptive smoothing option. Different market conditions may require adjustments to these parameters to optimize performance. Traders are encouraged to conduct thorough testing and analysis to determine the most suitable parameter values for their specific trading strategies and preferences. -- Market Conditions : The indicator's performance may vary depending on the prevailing market conditions. It is essential to understand that no indicator can guarantee accurate predictions or consistently profitable trades. Traders should consider the broader market context, fundamental factors, and other technical indicators to complement the insights provided by the "Volume-Weighted RSI with Adaptive Smoothing" indicator. -- Subjectivity : Interpretation of the indicator's signals involves subjective judgment. Traders may have varying interpretations of overbought and oversold levels, as well as the significance of the volume-weighted RSI in relation to the traditional RSI. It is crucial to combine the indicator with personal analysis and trading experience to make informed trading decisions. Remember, no single indicator can provide foolproof trading signals. The "Volume-Weighted RSI with Adaptive Smoothing" indicator serves as a valuable tool for analyzing price strength and volume dynamics. It can assist traders in identifying potential entry and exit points, validating trends, and managing risk. However, it should be used as part of a comprehensive trading strategy that considers multiple factors and indicators to increase the likelihood of successful trades.
Pine Script™ indicator
by LeafAlgo
Options Volume Indicator Volume Indicator for Option Trading, it is a simple indicator based on Relative Strength Index. There are two horizontal lines are mention 10 and -10, if bar crossed above the (Line 10) then go for buy and when Bar cross under (Line -10) go for sell side. If Bar Color changed to Respective color of the previous bar i.e. color gets darker then you can exit/ trail SL there because it overbought / Oversold position and vice versa for Sell Side. this volume indicator works on any Script. The Black Floating Line indicates the Average volume
Pine Script™ indicator
by TradingTail
9
SA_RSIVolume_ORSI.2020.bibl[wozdux] Description of the SA_RSIvol_ORSI indicator The rsivol indicator has undergone changes and additions. Since this modified indicator is used in the video, I publish it with explanations. First add-on In order to eliminate some delay in the rsivol blue line, A rsivol with a period of 200 was introduced. Then this line became some long-term reference and the regular RSIVOL was divided into RSIVOL200. The result is a pink line. In the indicator, it is indicated as RSIVOL200 by a pink line. Second addition In the old indicator, the rsivol parameter itself is calculated as the RSI of the conditional volume price. This volume price is calculated as the average product of the price per volume divided by the average volume for a certain period. OS=ema (volume*cena, TT)/ ema(volume, TT) Here, an exponential moving average is used to calculate the volume price. Then the RSI function is taken from this calculated price. As we know from the meaning of the RSI, this is the percentage of purchases from the sum of all transactions or the intensity of purchases. Using volume prices instead of simple prices, we get a more truthful picture of purchases in the market. So, the EMA itself is good, but it tends to be late. There is another formula for calculating the moving average, which contains the advantages of the EMA and does not have its disadvantages. This function is ALMA. An alternative way to calculate the volume price is to use the ALMA function instead of the EMA. In this function, in addition to the period, two additional parameters are used. ALMA(xx, TT,ss,kk) In the indicator, it is possible to simultaneously see the RSIVOL lines, both with EMA and ALMA. The third addition Similarly, you can use ALMA instead of EMA to calculate a simple price RSI. However, there were no interesting results for the price RSI. In the indicator, I left the option to see how it looks just for information. If you are interested, you can watch it. The fourth addition The fourth addition concerns the regular RSI. The function itself has been changed. The built-in RSI function is re-created and named ORSI. It is supplemented with volume. In other words, ORSI calculates the purchase rate based on volume, but in a different way than RSIVOL. As a result, we have two lines of RSI and ORSI simultaneously. The price RSI shows the rate of price increase. Volume ORSI shows the rate of volume engagement. The greater the difference between these indicators, the stronger the trend in one direction or another. These two speeds are represented as two lines with the area between them filled in with color. The indicator also shows a different way of displaying it: a histogram of the difference between these speeds. You can turn the histogram on or off. New line coloring The RSI and ORSI chart is made as a colored area above and below the 50 level. Above the level, the color is green, below the level, the color is red. How do I use the indicator? The indicator is used just like any other. We are looking for divergences between the indicator lines and the price chart. RSIVOL200 responds faster to a trend reversal. The divergences on RSIvol200 are clearer. RSI-ORSI . You can use either one option or the other for trading. Everyone chooses the most convenient one. Sharing or as a histogram of the difference allows you to see the market picture more subtly. I have not yet studied this indicator in all its manifestations. I suggest that everyone who wants to do this. SETTINGS switch close <==> ( H+L)/2 == switch KEY to select the price type blue RSIVOL= switch the color of the fields == enable / disable rsivol coloring above and below levels blue => vp=volume * price === period for calculating the volume price blue => RSIVOL(vp,len) === period for calculating RSIVOL blue RSIVOL KEY === enable / disable rsivol line blue _RSIVOL_ to include the width LINE === enable the RSIVOL line as a ribbon blue_RSIVOL_ line width == = ribbon width blue _RSIVOL => EMA(true) or ALMA(false) coefficients ( kk, ss) = = = use EMA or ALMA to calculate the volume price. By default, ALMA, when the button does not have a check mark. ALMA-->kk=={0,1} = = = coefficient for the formula ALMA with a range of changes from 0 to 1 ALMA-->ss=={1.10} = = = coefficient for the formula ALMA with a range of changes from 1 to 10 key => and-and RSIVOL(ema) blue + RSIVOL (alma) black === This key allows you to display both RSIVOL lines on the chart simultaneously as both ema and alma. blue__o1=> ema ( RSIVOL, o1) = = = additional rsivol smoothing after all calculations fuchsia RSIVOL ( 200 ) = rsivol/rsivol200 = = = enable RSIVOL200 fuchsia__ => RsiVol200 (vp, 200) === period for calculating RSIvol200 fuchsia__o2=> ema ( RSIVOL200 , o2) = = = additional rsivol200 smoothing key red => rsi(close) === disable key RSI key => or-or price RSI <--> volume ORSI ===key for displaying the RSI or ORSI key => and-and price RSI + volume ORSI = = = key for displaying both RSI and ORSI red=rsi (close, 14) === period for calculating the RSI and ORSI red= ema ( RSI, 2) = = additional smoothing of RSI and ORSI key ==> histogram of the difference (RSI-ORSI) === enable displaying the RSI-ORSI difference histogram yellow line level_UP_ _ rsi === upper level for RSI-ORSI yellow line level_DOWN_ _ rsi== = lower level for RSI-ORSI level_UP_rsivol == top level for RSIvol level_DOWN_rsivol == lower level for RSIvol RSI => replace EMA true --> ALMA(kk, ss) false== replace EMA with ALMA in the RSI calculation ALMA=>kk=={0,1} = = = coefficient of alma ALMA=>ss=={1.10} = = = coefficient of alma ======Описание на русском языке========= Описание индикатора SA_RSIvol_ORSI Индикатор RSIVOL претерпел изменения и дополнения. Поскольку этот измененный индикатор используется в видео, то публикую его с пояснениями. Первое дополнение Для того, чтобы устранить некоторое запаздывание синей линии RSIVOL, была введена RSIVOL с периодом 200. Затем эта линия стала некоторым долгосрочным эталоном и обычную RSIVOL разделили на RSIVOL200. В результате получилась розовая линия. В индикаторе она обозначена как RSIVOL200 розовой линией. Второе дополнение В старом индикаторе сам параметр RSIVOL вычисляется как RSI от условной объемной цены. Эта объемная цена вычисляется как усредненное произведение цены на объем, деленное на усредненный объем за какой-то период. ОС=ema(volume*cena, TT)/ ema(volume,TT) Здесь для вычисления объемной цены используется экспоненциальная скользящая средняя. Далее от этой вычисленной цены берется функция RSI. Как мы знаем по смыслу RSI это доля закупок от суммы всех сделок или интенсивность закупок. Используя объемную цены вместо простой цены, мы получаем более правдивую картину закупок на рынке. Так вот, сама по себе EMA хорошая, но она имеет свойство запаздывать. Существует другая формула вычисления скользящей средней, которая содержит достоинства EMA и отсутствуют её недостатки. Эта функция ALMA. Альтернативным способом вычисления объемной цены является использование вместо EMA функции ALMA. В этой функции, кроме периода используются дополнительные два параметра. ALMA(xx,TT,ss,kk) В индикаторе есть возможность одновременно видеть линии RSIVOL , как с EMA, так и ALMA. Третье дополнение Аналогично для вычисления простой ценовой RSI можно использовать ALMA вместо EMA. Однако для ценовой RSI интересных результатов не получилось. В индикаторе я оставила возможность посмотреть, как это выглядит просто для информации. Кому интересно, можете посмотреть. Четвертое дополнение Четвертое дополнение касается обычной RSI. В саму функцию внесены изменения. Встроенная функция RSI сделана заново и названа ORSI. Она дополнена объемом. Иначе говоря, ORSI вычисляет скорость закупок с учетом объема, но другим способом, чем RSIVOL. В результате, имеем две линии RSI и ORSI одновременно. Ценовая RSI показывает скорость наращивания цены. Объемная ORSI показывает скорость вовлечения объема. Чем больше разница между этими показателями, тем сильнее тренд в ту или иную сторону. Эти две скорости представлены как две линии, область между которыми заполнена цветом. В индикаторе представлен и другой способ отображения: гистограмма разницы между этими скоростями. Гистограмму можно включить или выключить. Новая раскраска линий График RSI и ORSI выполнен как окрашенная область над и под уровнем 50. Над уровнем окраска зеленым цветом, под уровнем окраска красным цветом. Как использовать индикатор? Индикатор используется также, как любой другой. Ищем дивергенции между линиями индикатора и ценовым графиком. RSIVOL200 быстрее реагирует на разворот тренда. Дивергенции на RSIvol200 более четкие. RSI-ORSI . Можно использовать либо один вариант, либо другой для торговли. Каждый выбирает для себя наиболее удобный. Совместное использование или в виде гистограммы разницы позволяет более тонко видеть картину рынка. Я еще не изучила данный индикатор во всех его проявлениях. Предлагаю это сделать каждому, кто пожелает. НАСТРОЙКИ switch close <==> ( H+L)/2 == КЛЮЧ переключатель для выбора типа цены blue RSIVOL= switch the color of the fields == включить / выключить окраску RSIVOL над и под уровнями blue => vp=volume * price === период для вычисления объемной цены blue => RSIVOL(vp,len) === период для вычисления RSIVOL blue RSIVOL KEY === включить \ выключить линию RSIVOL blue _RSIVOL_ to include the width LINE === включить линию RSIVOL в виде ленты blue_RSIVOL_ line width ===ширина ленты blue _RSIVOL => EMA(true) or ALMA(false) coefficients ( kk, ss) === использовать EMA или ALMA для вычисления объемной цены. По умолчанию ALMA, когда на кнопке нет галочки. ALMA-->kk=={0,1} === коэффициент для формулы ALMA с диапазоном изменения от 0 до 1 ALMA-->ss=={1,10} === коэффициент для формулы ALMA с диапазоном изменения от 1 до 10 key => and-and RSIVOL(ema) blue + RSIVOL (alma) black === Этот ключ позволяет отобразить на графике обе линии RSIVOL одновременно и как ema и как alma. blue__o1=> ema ( RSIVOL, o1) === дополнительное сглаживание RSIVOL после всех вычислений fuchsia RSIVOL ( 200 ) = rsivol/rsivol200 === включить RSIVOL200 fuchsia__ => RsiVol200 (vp,200) === период для вычисления RSIvol200 fuchsia__o2=> ema ( RSIVOL200 , o2) === дополнительное сглаживание RSIvol200 key red => rsi(close) === ключ выключения RSI key => or-or price RSI <--> volume ORSI ===ключ для отображения RSI или ORSI key => and-and price RSI + volume ORSI === ключ для отображения одновременно RSI и ORSI red=rsi (close,14) === период вычисления RSI и ORSI red= ema ( RSI ,2) == дополнительное сглаживание RSI и ORSI key ==> histogram of the difference (RSI-ORSI) === включить отображение гистограммы разницы RSI-ORSI yellow line level_UP__rsi === верхний уровень для RSI-ORSI yellow line level_DOWN__rsi=== нижний уровень для RSI-ORSI level_UP_rsivol == верхний уровень для RSIvol level_DOWN_rsivol == нижний уровень для RSIvol RSI => replace EMA true --> ALMA(kk,ss) false== заменить EMA на ALMA в вычислении RSI ALMA=>kk=={0,1} === коэффициент alma ALMA=>ss=={1,10} === коэффициент alma
Pine Script™ indicator
by wozdux
5
RSIVolume_2graf.01[wozdux] Tactics and strategy Tactics and strategy The indicator combines 2 variants of the RSI indicator. The first option is calculated relative to the normal close price. The second option is calculated relative to the volume price. The volume price is calculated as the product of the volume price. For normal RSI, the default period is 9, for the volume price . Settings. Level_close sets the width of the middle region, the oscillations of the indicator chart for the average of the closing price. Level_volume*close sets the critical level for the volume price. Period 24 (len1) specifies the RSI calculation period for the volume price. Period 9 (len3) specifies the RSI calculation period for the regular price. The combination of two versions of the indicator helps to see more truthful information about the mood of buyers and sellers. When the volume price reaches its critical level of 8 units, it is a signal to a strong fall in the price. In this state, you should monitor the classic RSI. Thus, the classic RSI determines the tactical movement, and the volumetric RSI – strategic. ------------------------------------- Тактика и стратегия Индикатор совмещает в себе 2 варианта индикатора RSI. Первый вариант вычисляется относительно обычной цены закрытия. Второй вариант вычисляется относительно объемной цены. Объемную цену вычисляют как произведение цены на объем. Для обычного RSI по умолчанию берется период 9 , для объемной цены . Настройки. Level_close задает ширину средней области колебания графика индикатора для обычной цены закрытия. Level_volume*close задает критический уровень для объемной цены. Период 24 (len1) задает период вычисления RSI для объемной цены. Период 9(len3) задает период вычисления RSI для обычной цены. Сочетание двух вариантов индикатора помогает увидеть более правдивую информацию о настроениях покупателей и продавцов. Когда объемная цена достигает своего критического уровня 8 единиц, то это является сигналом к сильному падению цены. В этом состоянии следует следить за классической RSI. Таким образом классическое RSI определяет тактическое движение, а объемное RSI – стратегическое.
Pine Script™ indicator
by wozdux