INVITE-ONLY SCRIPT
YK_28CRYPTO_Custom_RSI
Custom RSI over EMA
22/11 Crossover
Financial Interpretation: The Relative Strength Index is useful for detecting Movement which is not readily apparent, and also as a Reversal signal using Divergence between the RSI and price (an RSI above 70 or below 30 warns of coming reversals). The Relative Strength Index is smoother than the Rate of Change.
Calculation: The Relative Strength index is calculated using following algorithm:
1. Average Upward Price Move = EMA( Sum of all upward movements in Closing price )
2. Average Downward Price Move = EMA( Sum of all downward movements in Closing price )
3. Calculate Relative Strength (RS):
RS = Average Upward Price Move / Average Downward Price Move
4. Calculate the Relative Strength Index (RSI):
RSI = 100 - 100 / ( 1 + RS )
It warns of coming reversal convergence/divergence combined with Heiken Ashi
22/11 Crossover
Financial Interpretation: The Relative Strength Index is useful for detecting Movement which is not readily apparent, and also as a Reversal signal using Divergence between the RSI and price (an RSI above 70 or below 30 warns of coming reversals). The Relative Strength Index is smoother than the Rate of Change.
Calculation: The Relative Strength index is calculated using following algorithm:
1. Average Upward Price Move = EMA( Sum of all upward movements in Closing price )
2. Average Downward Price Move = EMA( Sum of all downward movements in Closing price )
3. Calculate Relative Strength (RS):
RS = Average Upward Price Move / Average Downward Price Move
4. Calculate the Relative Strength Index (RSI):
RSI = 100 - 100 / ( 1 + RS )
It warns of coming reversal convergence/divergence combined with Heiken Ashi
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact Senin for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Want to use this script on a chart?
Warning: please read before requesting access.
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.