OPEN-SOURCE SCRIPT
JMA RSX Clone [LazyBear]
RSX is a "noise free" version of RSI, with no added lag. This is a port of a clone to Pine.
Use this indicator just like RSI. I have set the default length to 14, feel free to experiment. You can reduce length with out worrying about jaggedness.
Options page has all the configurable parameters. You can use the plot names to setup alerts.
I have couple of more indicators built using this, will post them later. Let me know what you think about this indicator.
RSX Clone compared to normal RSI:
Smoothness helps a lot in identifying the divergences correctly:
More info:
jurikres.com/down__/product_guide_.pdf
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
Use this indicator just like RSI. I have set the default length to 14, feel free to experiment. You can reduce length with out worrying about jaggedness.
Options page has all the configurable parameters. You can use the plot names to setup alerts.
I have couple of more indicators built using this, will post them later. Let me know what you think about this indicator.
RSX Clone compared to normal RSI:
Smoothness helps a lot in identifying the divergences correctly:
More info:
jurikres.com/down__/product_guide_.pdf
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
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
List of my indicators at Appstore: blog.tradingview.com/?p=970
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.