OPEN-SOURCE SCRIPT
Dynamic Length RSI (DRSI)
Dynamic Length RSI (DRSI)
This indicator is an advanced tool that seeks to improve the sensitivity and adaptability of the traditional Relative Strength Index (RSI).
Its main feature is that it uses a variable length calculation instead of a fixed length (like the standard 14), automatically adjusting to market volatility conditions. The length used to calculate the RSI dynamically adjusts between a predefined minimum and maximum, based on volatility (ATR).
The change in length is indicated by the candlestick background. Gray candles represent ascending Dyn (weakness/consolidation/declining volatility), blue or white candles represent descending Dyn (strength, trend, rising volatility).
This indicator is an advanced tool that seeks to improve the sensitivity and adaptability of the traditional Relative Strength Index (RSI).
Its main feature is that it uses a variable length calculation instead of a fixed length (like the standard 14), automatically adjusting to market volatility conditions. The length used to calculate the RSI dynamically adjusts between a predefined minimum and maximum, based on volatility (ATR).
The change in length is indicated by the candlestick background. Gray candles represent ascending Dyn (weakness/consolidation/declining volatility), blue or white candles represent descending Dyn (strength, trend, rising volatility).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.