OPEN-SOURCE SCRIPT
asami.PMax on Rsi w T3
### **1\. Overview**
**Indicator**: asami.PMax on RSI w T3 (Short: **PmR3**)
**Pane**: Separate (`overlay=false`)
**Goal**: Smooth classic RSI with Tillson T3, overlay ATR-based PMax stops, and highlight momentum shifts with built-in alerts.
### **2\. Code Breakdown**
1. **WWMA-Based RSI**
* Use weighted moving average on up/down moves (`avUp`, `avDown`) to compute `rsi = 100 - 100/(1 + avUp/avDown)`.
2. **ATR on RSI**
* Define true range (`tr`) from RSI high/low differences; compute `atr = sma(tr, periodsATR)`.
3. **Tillson T3 Smoothing**
* Concatenate six EMAs of length `lenT3`, then blend via coefficients derived from `T3a1` to form `mAvg`.
4. **PMax Stop Bands**
* `longStop = mAvg - multiplier * atr` and `shortStop = mAvg + multiplier * atr`.
* Enforce monotonic expansion and pick inner band based on trend direction `dir`.
5. **Signals & Alerts**
* `crossover(mAvg, pMax)` → Buy signal
* `crossunder(mAvg, pMax)` → Sell signal
* Additional alerts on price vs. PMax crosses.
### **3\. Inputs**
| Input Name | Default | Description |
| :---- | :---- | :---- |
| Source | hl2 | Base price series (e.g., (High+Low)/2) |
| ATR Multiplier | 3.0 | Width factor for PMax band |
| Tillson T3 Length | 8 | EMA chain length for T3 smoothing |
| TILLSON T3 Volume Factor | 0.7 | Blending factor for T3 smoothing |
| ATR Length | 10 | Period for ATR calculation |
| RSI Length | 14 | Period for RSI calculation |
| Show RSI? | true | Toggle RSI plot |
| Show Moving Average? | true | Toggle T3-RSI centerline |
| Show Crossing Signals? | true | Toggle Buy/Sell markers |
| Highlighter On/Off? | true | Toggle background color highlights (green/red) |
### **4\. Plots & Signals**
* **RSI \+ Bands**: Plots RSI with 70/30 horizontal lines and semi-transparent background fill.
* **Center Line (T3-RSI)**: Thick black line (`linewidth=2`).
* **PMax**: Thick red line.
* **Buy/Sell Labels**: Tiny up/down labels along the PMax line when enabled.
* **Background Highlight**: Green when `mAvg > pMax`; red when `<`.
### **5\. Use Cases**
* **Day & Swing Trading**: Ideal on 5 min–4 h charts for clean momentum flip detection.
* **Directional Filter**: Restrict long trades to price above PMax, shorts below.
* **Automated Execution**: Hook alerts into webhook-driven bots for live order placement.
### **6\. Tips & Caveats**
* **Whipsaw Control**: In low volatility, ATR contracts excessively—consider longer ATR or additional volatility filters.
* **Multi-Timeframe Alignment**: Validate trend direction on higher timeframes to reduce false signals.
* **Risk Management**: Oscillator-based stops often trigger tight exits; adjust position sizing accordingly.
### **7\. Conclusion**
PmR3 combines RSI, ATR, and Tillson T3 techniques to deliver a noise-reduced, trend-aware momentum indicator. With intuitive color highlights and ready-to-use alerts, it fits both discretionary and algorithmic TradingView strategies.
**Indicator**: asami.PMax on RSI w T3 (Short: **PmR3**)
**Pane**: Separate (`overlay=false`)
**Goal**: Smooth classic RSI with Tillson T3, overlay ATR-based PMax stops, and highlight momentum shifts with built-in alerts.
### **2\. Code Breakdown**
1. **WWMA-Based RSI**
* Use weighted moving average on up/down moves (`avUp`, `avDown`) to compute `rsi = 100 - 100/(1 + avUp/avDown)`.
2. **ATR on RSI**
* Define true range (`tr`) from RSI high/low differences; compute `atr = sma(tr, periodsATR)`.
3. **Tillson T3 Smoothing**
* Concatenate six EMAs of length `lenT3`, then blend via coefficients derived from `T3a1` to form `mAvg`.
4. **PMax Stop Bands**
* `longStop = mAvg - multiplier * atr` and `shortStop = mAvg + multiplier * atr`.
* Enforce monotonic expansion and pick inner band based on trend direction `dir`.
5. **Signals & Alerts**
* `crossover(mAvg, pMax)` → Buy signal
* `crossunder(mAvg, pMax)` → Sell signal
* Additional alerts on price vs. PMax crosses.
### **3\. Inputs**
| Input Name | Default | Description |
| :---- | :---- | :---- |
| Source | hl2 | Base price series (e.g., (High+Low)/2) |
| ATR Multiplier | 3.0 | Width factor for PMax band |
| Tillson T3 Length | 8 | EMA chain length for T3 smoothing |
| TILLSON T3 Volume Factor | 0.7 | Blending factor for T3 smoothing |
| ATR Length | 10 | Period for ATR calculation |
| RSI Length | 14 | Period for RSI calculation |
| Show RSI? | true | Toggle RSI plot |
| Show Moving Average? | true | Toggle T3-RSI centerline |
| Show Crossing Signals? | true | Toggle Buy/Sell markers |
| Highlighter On/Off? | true | Toggle background color highlights (green/red) |
### **4\. Plots & Signals**
* **RSI \+ Bands**: Plots RSI with 70/30 horizontal lines and semi-transparent background fill.
* **Center Line (T3-RSI)**: Thick black line (`linewidth=2`).
* **PMax**: Thick red line.
* **Buy/Sell Labels**: Tiny up/down labels along the PMax line when enabled.
* **Background Highlight**: Green when `mAvg > pMax`; red when `<`.
### **5\. Use Cases**
* **Day & Swing Trading**: Ideal on 5 min–4 h charts for clean momentum flip detection.
* **Directional Filter**: Restrict long trades to price above PMax, shorts below.
* **Automated Execution**: Hook alerts into webhook-driven bots for live order placement.
### **6\. Tips & Caveats**
* **Whipsaw Control**: In low volatility, ATR contracts excessively—consider longer ATR or additional volatility filters.
* **Multi-Timeframe Alignment**: Validate trend direction on higher timeframes to reduce false signals.
* **Risk Management**: Oscillator-based stops often trigger tight exits; adjust position sizing accordingly.
### **7\. Conclusion**
PmR3 combines RSI, ATR, and Tillson T3 techniques to deliver a noise-reduced, trend-aware momentum indicator. With intuitive color highlights and ready-to-use alerts, it fits both discretionary and algorithmic TradingView strategies.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.