RSX is a "noise free" version of RSI, with no added lag. This is a port of a clone to Pine.
Use this indicator just like RSI. I have set the default length to 14, feel free to experiment. You can reduce length with out worrying about jaggedness.
Options page has all the configurable parameters. You can use the plot names to setup alerts.
I have couple of more indicators built using this, will post them later. Let me know what you think about this indicator.
RSX Clone compared to normal RSI:
Smoothness helps a lot in identifying the divergences correctly:
More info:
www.jurikres.com/dow..._/product_guide_.pdf
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
Use this indicator just like RSI. I have set the default length to 14, feel free to experiment. You can reduce length with out worrying about jaggedness.
Options page has all the configurable parameters. You can use the plot names to setup alerts.
I have couple of more indicators built using this, will post them later. Let me know what you think about this indicator.
RSX Clone compared to normal RSI:
Smoothness helps a lot in identifying the divergences correctly:
More info:
www.jurikres.com/dow..._/product_guide_.pdf
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
// // @author LazyBear // // List of my public indicators: http://bit.ly/1LQaPK8 // List of my app-store indicators: http://blog.tradingview.com/?p=970 // // study(title="JMA RSX Clone [LazyBear]", shorttitle="RSXC_LB", overlay=false) src=input(close) length=input(14) lvlob = input(70, title="OB Level") lvlos = input(30, title="OS Level") mid = input(50, title="Mid Level") clampmax = 100 clampmin = 0 f90_ = (nz(f90_[1]) == 0.0) ? 1.0 : (nz(f88[1]) <= nz(f90_[1])) ? nz(f88[1])+1 : nz(f90_[1])+1 f88 = (nz(f90_[1]) == 0.0) and (length-1 >= 5) ? length-1.0 : 5.0 f8 = 100.0*(src) f18 = 3.0 / (length + 2.0) f20 = 1.0 - f18 f10 = nz(f8[1]) v8 = f8 - f10 f28 = f20 * nz(f28[1]) + f18 * v8 f30 = f18 * f28 + f20 * nz(f30[1]) vC = f28 * 1.5 - f30 * 0.5 f38 = f20 * nz(f38[1]) + f18 * vC f40 = f18 * f38 + f20 * nz(f40[1]) v10 = f38 * 1.5 - f40 * 0.5 f48 = f20 * nz(f48[1]) + f18 * v10 f50 = f18 * f48 + f20 * nz(f50[1]) v14 = f48 * 1.5 - f50 * 0.5 f58 = f20 * nz(f58[1]) + f18 * abs(v8) f60 = f18 * f58 + f20 * nz(f60[1]) v18 = f58 * 1.5 - f60 * 0.5 f68 = f20 * nz(f68[1]) + f18 * v18 f70 = f18 * f68 + f20 * nz(f70[1]) v1C = f68 * 1.5 - f70 * 0.5 f78 = f20 * nz(f78[1]) + f18 * v1C f80 = f18 * f78 + f20 * nz(f80[1]) v20 = f78 * 1.5 - f80 * 0.5 f0 = ((f88 >= f90_) and (f8 != f10)) ? 1.0 : 0.0 f90 = ((f88 == f90_) and (f0 == 0.0)) ? 0.0 : f90_ v4_ = ((f88 < f90) and (v20 > 0.0000000001)) ? (v14 / v20 + 1.0) * 50.0 : 50.0 rsx = (v4_ > 100.0) ? 100.0 : (v4_ < 0.0) ? 0.0 : v4_ hline(lvlob, color=red, title="OB Level"), hline(mid,linewidth=2, title="Mid Level"), hline(lvlos, color=green, title="OS Level"), plot(rsx, color=red, linewidth=2, title="RSXC")