Relative Hurst Exponent

This Script calculates the in-built Relative strength index, with a customizable length and no MA. Added to this script's functionality is a Hurst exponent created by one of the G's Goblin_King_. Below is a description of his code which I chose to keep the same.

Code Explanation by Goblin_King_:

Hurst Exponent Calculation (hurst_exponent(len)): The script first calculates the mean difference between closing prices over the specified length (len). It then computes the variance of these differences, which is used to determine the rescaled range (R/S) of the price series. The Hurst Exponent is derived by taking the logarithm of the rescaled range divided by the logarithm of the length, providing insight into market behavior:

Hurst > 0.5: "Gray Filter"
Hurst ≈ 0.5: "Displays no filter"
Hurst < 0.5: "Displays no filter color"
Customization: Users can set the length (hurstLen) over which the Hurst Exponent is calculated, allowing them to adapt the analysis to different timeframes.

Edit by me:

Plotting: This Script shows The RSI going green and red when above or below 50. The Hurst Filter, Shows gray in trending market conditions. Then nothing in Mean-Reverting Phases.

This is a great trading tool for traders looking to kill two birds with one stone in there quantitative analysis.
This is also my first script. In no way is it perfect.