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OPEN-SOURCE SCRIPT

Function StochRSI

By Noldo
Updated
Stochastic Relative Strength Index developed by Tushar Chande and Stanley Kroll.
This script has been written to eliminate the period variable.(Integer)
Thus, it can be used comfortably in adaptive period scripts ! (For example : Adaptive Moving Average , KAMA , FAMA .. etc. )
All efforts goes to ChaosTrader (tradingview.com/script/I6rPLr4c-StochRSI/) ,
RicardoSantos (tradingview.com/script/32ohT5SQ-Function-Highest-Lowest/) ,
Hpotter for barcolor codes (iff) (tradingview.com/script/8cuqB2BM-FSK-Fast-and-Slow-Kurtosis-Backtest/)

I hope it will help your new ideas . Best regards ! Noldo .
Release Notes
Dear users, I made a big mistake. I have analyzed the Stochastic Oscillator function instead of StochRSI.This is the correct function. Also added alarms. Best regards !
Release Notes
Added some values ​​for better observation.
Release Notes
UPDATE :The rsi code pattern prepared by Tradingview is used. (Line 65 ) Because it is much more efficient where the period is less than 1.

Release Notes
This is the most effective version than the others.
Release Notes
This is to avoid distress if the variable average period drops to values ​​between 0 and 1. (RSI Functions )
Release Notes
Update : Colors
dynamicfunctionoverboughtoversoldRelative Strength Index (RSI)Stochastic OscillatorStochastic RSI (STOCH RSI)variable

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.

Want to use this script on a chart?

Noldo

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