CM_RSI Plus EMA — Indicator by ChrisMoody

pinescript relativestrengthindex ema williamsr

RSI with EMA Signal Created By Request For @motcha1

@motcha1 Requested the RSI with EMA Signal.

A Larry Williams Follower who says it's a Great

Entry Signal when RSI Crosses EMA When VIX

Is Showing A Potential Bottom. Looks Good!!!

Link to Lower Indicator CM_Williams_Vix_Fix

CM_Williams_Vix_Fix Finds Market Bottoms

Coming Soon: www.ChrisMoodyTrading.com

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

//Created by Chris Moody on 8/8/2014 by Request for motcha1
//RSI Indicator with EMA of RSI for Signal
//Great Confirrming Signal for CM_Williams_Vix_Fix https://www.tradingview.com/v/og7JPrRA/
study(title="CM_RSI_EMA", shorttitle="CM_RSI_EMA_", overlay=false)
src = close, 
len = input(20, minval=1, title="RSI Length")
len2 = input(10, minval=1, title="EMA of RSI Length")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
emaRSI = ema(rsi,len2)

plot(rsi, title="RSI", style=line, linewidth=3, color=silver)
plot(emaRSI, title="EMA of RSI", style=circles, linewidth=2, color=red)
band1 = hline(80, title="Upper Line", linestyle=dashed, linewidth=3, color=red)
band0 = hline(20, title="Lower Line", linestyle=dashed, linewidth=3, color=lime)
fill(band1, band0, color=purple, transp=90)

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