In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
//Created by Chris Moody on 8/8/2014 by Request for motcha1 //RSI Indicator with EMA of RSI for Signal //Great Confirrming Signal for CM_Williams_Vix_Fix https://www.tradingview.com/v/og7JPrRA/ study(title="CM_RSI_EMA", shorttitle="CM_RSI_EMA_", overlay=false) src = close, len = input(20, minval=1, title="RSI Length") len2 = input(10, minval=1, title="EMA of RSI Length") up = rma(max(change(src), 0), len) down = rma(-min(change(src), 0), len) rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down)) emaRSI = ema(rsi,len2) plot(rsi, title="RSI", style=line, linewidth=3, color=silver) plot(emaRSI, title="EMA of RSI", style=circles, linewidth=2, color=red) band1 = hline(80, title="Upper Line", linestyle=dashed, linewidth=3, color=red) band0 = hline(20, title="Lower Line", linestyle=dashed, linewidth=3, color=lime) fill(band1, band0, color=purple, transp=90)