OPEN-SOURCE SCRIPT
Kalman RSI
Updated
This is a simplified version of Kalman RSI by onegreencandle.
Simplifications:
Simplifications:
- It shows the indicator for a single configurable length with a default of 14.
- It does not color by region.
- It allows selecting the source, with a default of close. The version by onegreencandle uses ohlc4 instead. Note that both versions also use high and low.
- It uses the newer version (5) of Pine Script.
- It sets bands at 85 and 15.
Release Notes
Chart update.Release Notes
Changed the indicator title and shorttitle to distinguish them from another possible implementation of Kalman RSI. In this implementation, the normal RSI is computed effectively over the Kalman MA.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 publication is governed by House rules. You can favorite it to use it on a chart.
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