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
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
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
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
Same idea as above, but using EMA .

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

6) RSI of MACD
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:

For Pinescript developers:
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:
List of my indicators at Appstore:

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。



// @author LazyBear
// If you use this code in its original/modified form, do drop me a note. 
study("RSI + Volume [LazyBear]", shorttitle="RSIVolume_LB")
ob=input(80, title="Overbought")
os=input(20, title="Oversold")

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

calc_rsi_volume(fv, length) =>	

rsi_v = calc_rsi_volume(close, length)

plot(rsi_v, color=red, linewidth=1)