Stochastic / RSI (Wilder's [RMA] or Arnaud Legoux [ALMA])

3 ago 2020

This script displays the Stochastic and Relative Strength Index ("RSI") indicators. Each indicator can be displayed standalone or shown together. The Stochastic indicator also has functionality to highlight overbought/oversold levels as well as relative placement of K and D. The RSI indicator can also be updated to utilize the Arnaud Legoux Moving Average ("ALMA") (vs. the standard Wilder's Moving Average).

I use based on default settings. ALMA RSI can help indicate extent of drop/rise from Stochastic overbought/oversold levels.

Recognition due to kurtsmock for the work on validating the ALMA calculation (pinescript built-in function has slight deviation from original design) ---> LINK (tradingview.com/script/rqxaTb6E-ALMA-Function-FN-Arnaud-Legoux-Moving-Average/).

5 ago 2020

Note di rilascio

- Fixed 'Show RSI?' option to correctly hide RSI if toggled off
- Edited default transparency on Stochastics to 80 (from 90)

5 ago 2020

Note di rilascio

- Reordered Order of Options

28 feb 2023

Note di rilascio

-Upgraded code to Pine v5
-Cleaned up code and simplified 'inputs' coding
-Adding Standard RSI Len 9, 45-55 'chop zone' coloring that will display whether Standard or ALMA RSI is utilized (meant to indicate when price is choppy)