LazyBear

JMA RSX Clone [LazyBear]

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:
snapshot

Smoothness helps a lot in identifying the divergences correctly:
snapshot

More info:
http://www.jurikres.com/down__/product_guide_.pdf

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970
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//
// @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")
Hey lazybear, looks good. Thanks for sharing !!
Reply
LazyBear PRO moneymaking
yw :)
+1 Reply
moneymaking LazyBear
I just wanted to ask that, do you think putting the source as hlc3 instead of close, a good idea? I tried the hlc3 setting and the RSI got even more smoothed out. I don't know if this is any helpful. Do you think it makes any difference?
Reply
LazyBear PRO moneymaking
I just tried it quickly, I don't see much difference...May be some instrument with high tr may benefit from selecting hlc3.
+1 Reply
moneymaking LazyBear
Ya, I guess. I tried it on US dollar index on 60 min timeframe. Thank you for clarifying :)
Reply
thanks for sharing
Reply
yw :)
Reply
Thanks @LazyBear for sharing. One doubt, how are the blue arrows helpful. I am assuming all troughs are buy signal and peaks are Sell signal. Please correct me.
Reply
Those blue arrows just highlight the divergences. You can trade this just like RSI.
+1 Reply
I like it LB.
Reply
:)
Reply
Dare2 PRO LazyBear
Have you given any thought to coding a Hilbert Sine Wave Clone?
Reply
In the pipeline, hopefully someday will get to that :)
Reply
Dare2 PRO LazyBear
You're going to have to change your name to "Hyperactive Bear" :)
Reply
Hello, I am interested in LB_RSRL but cant find anything similar in your list of indicators. Would PM code, please? Thanks
Reply
LazyBear PRO DanielKovacik
Hi Daniel,

RSI S/R level is part of one of my appstore packages. More info: https://www.tradingview.com/market/lb-srlevels/

Feel free to ping me if you need more info.
Reply
Awesome, this is my favorite rsi indicator now
Reply
Hi Lazybear,
From the script what are the variables f99_, f88, f20. Why do you use these series of variables (f8,f10,f18,f20,f28...). I tried to output the variable for f99_ but returned an unassigned variable.
Regards,
praveen
Reply
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