brayrikar

Momentum-RSI-Signal

Signals when momentum and RSI are rising.
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study(title="Momentum-RSI-Sig", shorttitle="MRSI")
len = input(10, minval=1, title="Length")
src = input(close, title="Source")
mom = src - src[len]
mom_prev = src[1] - src[11]
src_rsi = input(close, title="Source"),len_rsi = input(14, minval=1, title="Length")
up = rma(max(change(src_rsi), 0), len_rsi)
down = rma(-min(change(src_rsi), 0), len_rsi)
up_prev = rma(max(change(src_rsi[1]), 0), len_rsi)
down_prev = rma(-min(change(src_rsi[1]), 0), len_rsi)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
rsi_prev = down_prev == 0 ? 100 : up_prev == 0 ? 0 : 100 - (100 / (1 + up_prev / down_prev))
rsi_dir = rsi  - rsi_prev
mom_dir = mom - mom_prev
signal_dir = (rsi_dir > 0 and rsi < 50 and mom_dir >= 3) ? 100 : 0
plot (signal_dir, color=purple)
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