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
Remove from Favorite Scripts Add to Favorite Scripts
//
// @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")
List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

moneymaking
2 years ago
Hey lazybear, looks good. Thanks for sharing !!
Reply
LazyBear PRO moneymaking
2 years ago
yw :)
+1 Reply
moneymaking LazyBear
2 years ago
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
2 years ago
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
2 years ago
Ya, I guess. I tried it on US dollar index on 60 min timeframe. Thank you for clarifying :)
Reply
RedBulls
2 years ago
thanks for sharing
Reply
LazyBear PRO RedBulls
2 years ago
yw :)
Reply
pkittali
2 years ago
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
LazyBear PRO pkittali
2 years ago
Those blue arrows just highlight the divergences. You can trade this just like RSI.
+1 Reply
Dare2 PRO
2 years ago
I like it LB.
Reply
LazyBear PRO Dare2
2 years ago
:)
Reply
Dare2 PRO LazyBear
2 years ago
Have you given any thought to coding a Hilbert Sine Wave Clone?
Reply
LazyBear PRO Dare2
2 years ago
In the pipeline, hopefully someday will get to that :)
Reply
Dare2 PRO LazyBear
2 years ago
You're going to have to change your name to "Hyperactive Bear" :)
Reply
DanielKovacik
a year ago
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
a year ago
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
TheYangGuizi
7 months ago
Awesome, this is my favorite rsi indicator now
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