OPEN-SOURCE SCRIPT
PVT RSI
Updated
Price Volume Trend based RSI with SMA smoothing. I personally prefer smoothed RSI's to get rid of noise.
Release Notes
A little update. I replaced the simple moving average for the smoothed simple moving average, as I find it better for smoothing purposes. Also, I decided to make the unsmoothed PVT RSI as the standard.
To make it smooth, just change the SMMA Length for an integer larger than 1.
I built this indicator for experimental purposes only.
There's no deliberate interpretation to it, besides maybe pattern recognition or as an indicative of sudden PVT change.
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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