OPEN-SOURCE SCRIPT
已更新 Volume Factored Relative Strength Index (VFRSI)

RSI is an indicator that is dependent only on price. I modified RSI to factor in volume as well. On BTC chart presented above, VFRSI is more accurate than RSI in detecting extreme conditions (green line is VFRSI). In some instances, it seems to be better than RSI in detecting divergences as well (scroll to March 2018).
In smaller time frames, it reduces the bart effect present on RSI without compromising responsiveness (unlike moving averages).

Features:
- Parameterized variables
- Includes regular RSI
- Includes an adjustable weight factor to reduce the effect of volume. At 0, it is identical to RSI.
PS: If you have seen a similar indicator, please let me know. Otherwise, this indicator has the potential to replace regular RSI.
Your feedback is very welcome :)
c|:D
In smaller time frames, it reduces the bart effect present on RSI without compromising responsiveness (unlike moving averages).
Features:
- Parameterized variables
- Includes regular RSI
- Includes an adjustable weight factor to reduce the effect of volume. At 0, it is identical to RSI.
PS: If you have seen a similar indicator, please let me know. Otherwise, this indicator has the potential to replace regular RSI.
Your feedback is very welcome :)
c|:D
發行說明
- using built-in RSI function for more efficient calculation- using exponentiation instead of multiplication to potentially increase volume weight
Note: when volume exponent is set to 0, this indicator is identical to RSI.
Zamboniman pointed out that this indicator is similar to Money Flow Index (MFI). More detail here

Since MFI is a more established indicator and uses hlc3, you can try changing the input source to hlc3 in the input settings. If you do so, change the chart type to line style and change the source to hlc3 for correctly identifying divergences. I personally think hlc3 is the best option among different input sources for most indicators.
發行說明
Note on Volume Exponent:
- Above 1, effect of volume on RSI increases exponentially. Floating point can be used as an exponent
- From 1 to 0, effect of volume on RSI decreases. At 0, it is identical to regular RSI
發行說明
- Changed volume exponent to volume factor. This is a safer method of controlling volume factor because volume exponent have opposing effects above and below 1 unit.- Added A/D weight to factor in only effective part of the volume. Please read the background section in my ADP indicator to understand how A/D ratio is calculated.
- Removed the extra bands
PS: I recommend using hybrid tickers e.g.(BITFINEX:BTCUSD+COINBASE:BTCUSD+BITSTAMP:BTCUSD)/3. Volume-based indicators are susceptible to wash trading/volume printing and hybrid tickers mitigate this issue.
![Accumulation/Distribution Percentage (ADP) [Cyrus c|:D]](https://s3.tradingview.com/h/hM0zajVr_mid.png)
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開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。