fskrypt

Ehlers-Smoothed Stochastic RSI [Krypt]

This script uses a regular Stochastic RSI formula and then runs Ehlers' Super Smoother on top of it. It also provides buy/sell signals on crossovers.

The script is inspired by LazyBear Ehlers-Smoothed Stochastic RSI with Roofing Filter, except I find that the Roofing filter (existing implementation) does not work well near extreme price changes, where a regular formula is preferable. The Ehlers Super Smoother however is excellent and seems to provide earlier signals in most cases than an EMA-EMA smoother. Combined, the super-smoother and regular Stochastic RSI formula provide very good results.
Release Notes: update chart and remove comment
Release Notes: drop 1st candle for stability in the beginning
Release Notes: Custom calculations for more accuracy in the beginning of the chart
Release Notes: adjust colors to make indicator work in dark mode
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This is awesome thanks!
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To set an alert on Buy Signal for example: right-click on indicator, choose "Add Alert...", select "Buy Signal" from the pull down list on the right of the indicator, then select "Less Than" as condition and "50.0" as value. For "Sell Signal" choose "Greater Than" and 50.0 as value.
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