LazyBear

Indicators: 6 RSI variations

As we all know, as published by Wilder, RSI makes use of "CLOSE" values. You probably have experimented changing the input to hl2 or hlc3 . I have included many other RSI variations in this chart. Refer to the developers section below to learn how you can use this code in your scripts.

1) RSI with Volume
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Suggested by Morris, this idea adds volume to the RSI indicator. Because volume offers one means of determining whether money is entering or leaving a market, this would provide additional information with which to make trading decisions.


2) RSI using last Open
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This is RSI with yesterday's open, This basically compares two full days of price action and in the process produces a smoother RSI line.

RSI of today's close is used as a signal (blue line).


3) RSI using SMA
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Wilder used his own MA for calculating RSI (check my post on Wilders MA here - -- This closely resembles EMA ). One of Morris's suggestion is to try out SMA .

Compared to normal RSI , you will see more squiggles here.


4) RSI using EMA
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Same idea as above, but using EMA .


5) RSI with Fibs
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How much does RSI retrace? This makes it easy to determine that :)


6) RSI of MACD
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As I mentioned earlier, RSI is a pluggable formula. You can substitute "close" with any data series to derive an index out of it.

This shows RSI of MACD . Note that this is range bound.


More info on RSI variations:
https://drive.google.com/file/d/0Bx48Du_...

For Pinescript developers:
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You can substitute your favorite indicator in the RSI function. I have made the RSI calculation a separate function in all the indicators above.

Following are the reusable functions (simply copy to your script and call with proper arguments):
* WiMA( src , length)
* calc_rsi( fv , length): This is equivalent to stock rsi () in TV.
* calc_rsi_volume( fv , length)
* calc_rsi_sma( fv , length)
* calc_rsi_ema( fv , length)
* calc_rsi_lastopen( fv , length)
* calc_macd( src , fast, slow)

You can also pick up fibs drawing code and put in on any indicator.


List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970
開源腳本

本著真正的TradingView精神,該腳本的作者將其開源發布,以便交易者可以理解和驗證它。為作者喝彩吧!您可以免費使用它,但在出版物中重複使用此代碼受網站規則的約束。 您可以收藏它以在圖表上使用。

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想在圖表上使用此腳本?
//
// @author LazyBear
// 
// If you use this code in its original/modified form, do drop me a note. 
//
study("RSI + Volume [LazyBear]", shorttitle="RSIVolume_LB")
length=input(14)
ob=input(80, title="Overbought")
os=input(20, title="Oversold")

WiMA(src, length) => 
    MA_s=(src + nz(MA_s[1] * (length-1)))/length
    MA_s

calc_rsi_volume(fv, length) =>	
	up=iff(fv>fv[1],abs(fv-fv[1])*volume,0)
	dn=iff(fv<fv[1],abs(fv-fv[1])*volume,0)
	upt=WiMA(up,length)
	dnt=WiMA(dn,length)
	100*(upt/(upt+dnt))

rsi_v = calc_rsi_volume(close, length)

u=plot(ob)
l=plot(os)
fill(u,l,red)
plot(50)
plot(rsi_v, color=red, linewidth=1)