Apirine Slow RSI [LazyBear]

The slow relative strength index (SRSI) indicator created by Vitali Apirine is a momentum price oscillator similar to RSI in its application and interpretation. Oscillating between 0 and 100, it generates both OB/OS signals and midline (50) cross over signals and divergences.

As author suggests, bullish / bearish divergences generated by SRSI are not as effective during strong trends. To avoid fading an established trend, the system is used in conjunction with a trend confirmation tool like ADX indicator.

You can configure the OB/OS levels, default are 70/30.

More info:
The slow relative strength index , TASC 2015-07

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List of my app-store indicators:

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// @author LazyBear 
// List of my public indicators:  
// List of my app-store indicators: 
study("Apirine Slow RSI [LazyBear]", shorttitle="ASRSI_LB", overlay=false, precision=3)
periods = input( 6, title="Smoothing", minval=1, maxval=100 ) 
smooth =  input( 14, title="RSI Length", minval=1, maxval=100 ) 
price = input(close, title="Source")
calc_wima(src, length) => 
    MA_s=(src + nz(MA_s[1] * (length-1)))/length
r1 = ema( price, periods ) 
r2 = iff( price > r1, price - r1, 0 ) 
r3 = iff( price < r1, r1 - price, 0 ) 
r4 = calc_wima( r2, smooth ) 
r5 = calc_wima( r3, smooth ) 
rr = iff( r5 == 0, 100, 100 - ( 100 / ( 1 + ( r4 / r5 ) ) ) ) 
obl=input(70, title="OB Level")
ovl=input(30, title="OS Level")
obl1=hline(obl, title="OB", color=gray), osl1=hline(ovl, title="OS", color=gray)
fill(obl1,osl1, color=gray, transp=80, title="RegionFill")
hline(50, title="MidLine", color=gray)
plot( rr, title="SlowRSI", color=red, linewidth=2 )
List of my free indicators:
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Thanks for this LB. I used your code to make a candlestick version with volume weighting and HA candle options. I hope you dont mind (i did give you credit of course).

Good for day trading
Looks good LB. Thanks for sharing it and all the other indicators that you provide to us. By the way, I have looked for a Time Series Forecast indicator in the scripts and have not found it. Do you know if it exists? Thanks again.
Thank God the Ehlers flood is over ;>)
LazyBear Futuraman
aha, there is at least one Ehlers hater out there :)
IvanLabrie LazyBear
Ehler's stuff is quite good if used with some common sense :)

BB squeeze + cgo signal after expanding range in one direction.
+1 Rispondi
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