The RSING indicator was created by Alon Horesh (Stocks & Commodities March 2021 pg 11) and this aims to be a better version of rsi that adapts to volume as well as a focus on overall strength. This is trying to fix the issues with the traditional RSI with a lack of volume and the issue where you could have the indicator stay in overbought or oversold territory but the upward or downward momentum continues. This indicator takes ratios of the current volume to it's moving average, the overall momentum of the stock, and the current range in comparison to the std deviation of it's past range and multiplies them all together to create this new indicator. I smooth it with a moving average for easier to read buy and sell signals. I have included strong buy and sell signals as darker colors and normal buy and sell signals as lighter colors. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
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Added zero line to make crossovers easier to visualize
Hi" Sr,
Nice script, some times have a small chages into the candle but the chanche with the previous candle is to big.
if you try ""range= close - close[1]"" , is not better?
thanks"
Nice script, some times have a small chages into the candle but the chanche with the previous candle is to big.
if you try ""range= close - close[1]"" , is not better?
thanks"