hiddenpablo

RSI with Smoothing and over-areas colored

I have noticed that lower length-values for RSI give much better signals for day and swing trading than default 14 bars back period. Also smoothing the RSI line by using moving average method reduces some of the noise/fake turn-backs.
Here you can change:
- bars back of RSI (default 4)
- smoothing the line (default 3)
- bars colorization of RSI's uptrend and downtrend (default ON)

I encourage you to play around with parameters to fit your favourite intervals best way.

If you would like to have BUY and SELL signals same as on the chart above, here you have my complementary script for that:
Release Notes: Now you can manually set the values for over bought/sold areas (default is 70 and 30).
Remove from Favorite Scripts Add to Favorite Scripts
nice :)
+1 Reply
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