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palitoj_endthen

smoothed_rsi

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Relative Strength Index (RSI) Trend Analysis supersmoother
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relativestrengthindex trendanalysis supersmoother

Description:
A well-known and vastly used momentum indicator, a Relative Strength Index (RSI) by J. Welles Wilder Jr., aims to evaluate the current price to its oversold/overbought area while giving an overview of bearish/bullish momentum. In this indicator, simply adding the super-smoother function (John F. Ehlers) was applied to the RSI line to create a more smoothed line and reduce its noise.

RSI:
RSI = 100 - 100/(1+RS)
RS = AvgUp/AvgDown
super_smoother(rsi)

Notes:
  • RSI > 70 indicates overbought
  • RSI < 30 indicates oversold
  • direction of the RSI line
Release Notes:
adding trendline options to identify e.g. divergence occurrence
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.

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