Darkyalt

Indicator: Relative Strength Index of Moving Average

Instead of calculating Relative Strength ( RS             ) of Price( RSI ), this calculates RS             of Moving Average (RSIOMA).

See http://www.earnforex.com/metatrader-indicators/RSIOMA for more info and metatrader version.
Credit goes to Kalenzo from the Forex TSD forum http://www.forex-tsd.com/metatrader-4/8221-rsi-moving-average.html

I easily modified the default RSI in trading view to make this indicator.
Remove from Favorite Scripts Add to Favorite Scripts
//By Darkyalt
study(title="Relative Strength Index of MA", shorttitle="RSIOMA")
src = close, len = input(14, minval=1, title="Length")
up = rma(max(change(ema(src, len)), 0), len)
down = rma(-min(change(ema(src, len)), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
plot(rsi, color=blue)
band1 = hline(80)
band0 = hline(20)
fill(band1, band0, color=purple, transp=90)
hline(50, color=gray, linestyle=line)
sig = ema(rsi, 21)
plot(sig, color=purple)
glaz
2 years ago
Nice idea :)
Reply
Alphaoptions
2 years ago
Nice job. Thanks for sharing it with us. I presume we can try different MAs by substituting for ema. Have you tried any other variations?
Reply
Darkyalt Alphaoptions
2 years ago
Thanks. I haven't tried any other type of moving averages because I like to keep things simple(K.I.S.S.) and I think the differences is negligible.

Feel free to try other MAs by substituting the ema in here to the MA you want.
#4 up = rma(max(change(ema(src, len)), 0), len)
#5 down = rma(-min(change(ema(src, len)), 0), len)

You can also change the signal(trigger) line and length here
#12 sig = ema(rsi, 21)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out