gb50k

RSI Inertia

Redline - vanilla RSI (where are we now)
Aqua - first difference/moment (how fast are we going)
Grey/Green - Second difference/moment (are we speeding up / slowing down?) aka Inertia
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study(title="DYN RSI price", shorttitle="DYN RSI price")

//by gb50K
per1=input(10, minval=1, title="rsi Length")
spy=close
//security(ss3, "1", hlc3)
//hline(50, color=blue, linewidth=2)
band1 = hline(20)
band11=hline(50)
band0 = hline(-20)
band00 = hline(-50) 
fill(band1, band11, color=blue, transp=95)
fill(band0, band00, color=blue, transp=95)
sm = input(10, minval=1, title="ema Length")
vv=ema(rsi(spy,sm),per1)
ww=change(vv)*8+50
ww1=rma(rma(ww,2),2)
ww2=change(ww1)*2+50
ww3=ema(rma(ww2,2),2)

plot(ww1-50, color=aqua, style = area, title='change', transp=50)
plot(ww3-50, color=green, style = area, title='change1', transp=75)
plot(vv-50, color=red, linewidth=1)



Awesome... thanks for sharing. I have similar code from 12 years ago buried somewhere in my Amibroker files. Glad to see people are still using this as I saw the potential back then, too.
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Nice!
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Best momentum indicator if used correctly.
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Pretty cool way to look at this, thank you, keep them coming, any personal thoughts on SPY direction due to looking at this?
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