The indicator is displayed without delays and repaints, immediately after the close of the candle.
This formula allows me to correctly include the moving average in the calculation. The calculation allows me to display RSI with any type of MA.
By default I use EMA, with this type of MA my RSI is not visually different from a regular RSI.
I have 11 types of RSI to choose from:
As candlesticks and as a simple line.
You can adjust the colors in the Style tab.
When you select 'Candles' type, you can make the wicks transparent if they bother you.
I also added a source selection. By default, any RSI uses the Close source.
But you can choose any of 15:
VWAP, Close, Open, HL2, HLC3, OHLC4, Volume, High, Low, vwap(Close), vwap(Open), vwap(High), vwap(Low), AVG(vwap(H,L)), AVG(vwap(O,C)).
- Additional RSI added.
By default, the extra RSI is twice as long as the regular RSI. Despite the value of 14. The "Multiple of Current TF" function allows calling RSI from a timeframe twice as long as the current one, if it is equal to 2. If it is equal to 3, then it will be 3 times longer than the current timeframe. And so on.
- An additional moving average has been added.
You can use it as an ordinary additional line. Or leave it as Cloud by default.
- A unique oversold/oversold formula in the form of small red/green dots has been added.
- Bolinger Bands feature has also been added.
Update to Pine Script v5.
Added function of normalization (changing the scale and height of the indicator).
Changed most of the code visually.
Removed RSI call function from HTF (not really needed in my opinion).
- - The code became simpler and more readable.
- - The settings are simpler and more responsive.
- - Added tooltips to almost every setting to make your work easier.
- - Fixed minor bugs related to the visual layout.
- - Fixed the ability to change Source.
- - Changed the normalization method for greater accuracy.
- - Added more customization options to the Style option.
- - Added alerts for VWAP and BB signals.
*Remember that when you change the RSI settings, the BB signals change. since it takes the source from the RSI.
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.