OPEN-SOURCE SCRIPT

CCT StochRSI [LazyBear]

CCT StochRSI, proposed by Steve Karnish of Cedar Creek Trading, reconfigures classic StochRSI using custom parameters and smoothing.

There are 6 types supported.

Common formula:
(rsi - lowest(rsi, x)) / (highest(rsi, y) - lowest(rsi, z)) * 100

Smoothed formula:
ema(common formula result, len)

Settings (values for x/y/z/len in the above formulae):
  • Type 1: RSILength=21, x=8, y=13, z=13, len=N/A
  • Type 2: RSILength=21, x=21, y=21, z=21, len=N/A
  • Type 3: RSILength=14, x=14, y=14, z=14, len=N/A
  • Type 4: RSILength=21, x=13, y=8, z=13, len=8
  • Type 5: RSILength=5, x=5, y=5, z=5, len=3
  • Type 6: RSILength=13, x=13, y=13, z=13, len=3


Apart from these default types, this also supports user-specified custom type (select "0" for "Type" option).

All 6 types:
snapshot

CCT StochRSI compared against normal StochRSI:
snapshot

List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
CCTcustomindicatorslazybearStochastic RSI (STOCH RSI)

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?


List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
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