Pine script version 3
RSIOMA is the abbreviation for Relative Strength index (RSI) of moving averages (MA). This custom built indicator is based on calculating the relative strength of two moving averages and the smoothes out the RSI using a moving average. Combined, the RSIOMA oscillator depicts trend changes in prices relative to the time...
Very simple T S that uses:
RSIOMA (Relative Strength Index of Moving Average) (RSI 7, EMA 9);
EMA 5 offset 2;
HEIKIN ASHI Candles.
RSI crossing over its EMA 9;
Last HA candle is green and closes above EMA 5 (best signals when this candle has ONLY upper long shadow and no lower shadow -> STRONG TREND STARTING)
RSI crossing under...
Instead of calculating Relative Strength(RS) of Price(RSI), this calculates RS of Moving Average(RSIOMA).
See www.earnforex.com for more info and metatrader version.
Credit goes to Kalenzo from the Forex TSD forum www.forex-tsd.com
I easily modified the default RSI in trading...