Hello!
This oscillator is based on the RSI on the WMA trend.
How does it work?
The WMA indicator is a trend indicator, it conditionally smooths the price chart and allows you to visually assess the trend.
In contrast to the standard RSI, noise is removed here.
Buy when the price is near the bottom, sell when it is near the top (If it lingers for a long time at the upper or lower border, then it is possible that the growth and fall will continue)
Change the settings, select the time frame you need.
---- Settings:
1) RSI lenght - change the RSI length
2) Smoothing length-RSI smoothing
3) Back_series- change for WMA , how many series are back.
4.5) Borders
This oscillator is based on the RSI on the WMA trend.
How does it work?
The WMA indicator is a trend indicator, it conditionally smooths the price chart and allows you to visually assess the trend.
In contrast to the standard RSI, noise is removed here.
Buy when the price is near the bottom, sell when it is near the top (If it lingers for a long time at the upper or lower border, then it is possible that the growth and fall will continue)
Change the settings, select the time frame you need.
---- Settings:
1) RSI lenght - change the RSI length
2) Smoothing length-RSI smoothing
3) Back_series- change for WMA , how many series are back.
4.5) Borders
Release Notes:
-upgrade to version 5 of pine