OPEN-SOURCE SCRIPT
EMARSI, New Moving Average
Updated
Hello, I'm playing around with EMA and I found combine change value of Price and RSI create interesting Moving Average to combine with EMA
Basically I just increase up and down sensitivity with RSI as source.
I think it does visualise Bull and Bear momentum better
When Price above EMA and and Price above EMARSI and EMARSI above EMA = Strong Bull, vice versa
and when the criteria above not met it indicate market in Range or Bull/Bear momentum about to end.
Setting :
EMA Length
Smooth Option
Crossover on smooth mode also indicate strong Bull/Bear
Feedback are welcome.
I hope it's useful.
Basically I just increase up and down sensitivity with RSI as source.
I think it does visualise Bull and Bear momentum better
When Price above EMA and and Price above EMARSI and EMARSI above EMA = Strong Bull, vice versa
and when the criteria above not met it indicate market in Range or Bull/Bear momentum about to end.
Setting :
EMA Length
Smooth Option
Crossover on smooth mode also indicate strong Bull/Bear
Feedback are welcome.
I hope it's useful.
Release Notes
Small update, convert into formula, so whenever you need it, just call emaRsi(src,len)Release Notes
Update, put RSI Effect in Setting, determine how much % RSI will affect to EMARelease Notes
Minor update, set default RSI Effect to 10%Open-source script
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