LazyBear

Indicators: Constance Brown Composite Index & RSI+Avgs

I am a big fan of Constance Brown. Her book "Technical Analysis for Trading Professionals" is an absolute classic (get the 2nd edition).

I have included here 2 of the indicators she uses in all her charts.

Composite Index
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This is a formula Ms             Brown developed (Cardwell may not agree!) to identify divergence failures with in the RSI . This also highlights the horizontal support levels with in the indicator area.

This index removes the normalization range restrictions in RSI . This means it is not bound with in 0-100 range. Also, this has embedded momentum calculation in it.

The fine nuances of this indicator are not documented well enough, if you find some good documentation, do let me know. Always use this with RSI (like the next one).

RSI+Avgs
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This is plain 14 period RSI with a 9-period EMA and 45-period SMA overlaid.
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//
// @author LazyBear
// Code from book "Breakthroughs in Technical Analysis" pg 95. 
//
// If you use this code in its orignal/modified form, do drop me a note. 
// 
study(title="Constance Brown Composite Index [LazyBear]", shorttitle="CBIDX_LB")
src = close
rsi_length=input(14, title="RSI Length")
rsi_mom_length=input(9, title="RSI Momentum Length")
rsi_ma_length=input(3, title="RSI MA Length")
ma_length=input(3, title="SMA Length")
fastLength=input(13)
slowLength=input(33)

r=rsi(src, rsi_length)
rsidelta = mom(r, rsi_mom_length)
rsisma = sma(rsi(src, rsi_ma_length), ma_length)
s=rsidelta+rsisma

plot(s, color=red, linewidth=2)
plot(sma(s, fastLength), color=green)
plot(sma(s, slowLength), color=orange)
it is 9 sma and 45 ema or wma on RSI; you should put 9 sma and 45 ema/wma on price chart and check Cardwells work on positive and negative reversals
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LazyBear PRO jakob.brandl.1
Oh, will go check the book again (I thought it was 9 EMA/45 SMA).

Feel free to change that in the source code, in the mean time. Thanks for your comment.
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yw mate
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How do I use this indicator? Do I need to be a pro user to trading view?
+1 Reply
PRO is not needed for using these free indicators.

Use this guide to import / use custom indicators published (PDF):
https://drive.google.com/file/d/0Bx48Du_2aPFncUhIemNrZUY1dTA/edit?usp=sharing

Here's a list of all my indicators. You can use the same guide above to import/use any of these.
Master Index: List of all my indicators


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It may be because I'm just too tired, but I'm not finding the code of the RSI w/MAs... I copied and pasted the Composite code, and it works fine, but where is the RSI w/MAs code? Sorry if I'm being dense...
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Use this guide to import / use RSI+MAs. Note that this PDF shows the old UI, the "Share" button is the last button on the left side in the current UI.
https://drive.google.com/file/d/0Bx48Du_2aPFncUhIemNrZUY1dTA/edit?usp=sharing
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denovo LazyBear
Thanks LB - I tried the list of your indicators but not the link you'd already posted in your reply to henjiro. Sorry to make you repeat yourself... Great indicator - I'd been dreading the trial and error process of learning new code so I could chart it, not realizing it was right under my nose on tradingview. Thanks for writing it!
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NP. RSI+Avgs along with CBIDX is a great combo.
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Sir, could u please do similar work of overlaying EMA9 and SMA 26 on a Ultimate oscillator. I m not a programmer. Thanks
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I wanted to test these indicators but I cant see the "Make It Mine" button. Anyone knows why? What am I missing?
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Thank you for sharing this. Is this a ThinkScript for TOS? I doesn't seem to work in TOS.
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thank you for your info about Connie Brown composite index, however how can I incorporate to my fxcm account any tips and what is the difference between RSI and RSI+Avgs thank you
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