RSI with WMA & EMA [AN]

Key Factors traced
- Price: EMA ( Exponential Moving Average )
- Volume: WMA (Weighted Moving Avg .)
- Strength (Momentum): RSI ( Relative Strength Indicator)

Default parameters
1. RSI at 9. Over brought & Under sold to 50 to be used as a median. This can be altered to the traditional 70:30 or 60:40
2. WMA at 21
3. EMA at 3, Exponential for Intraday trades
Release Notes: Debug: SMA to WMA parameter
Release Notes: WMA to VWMA
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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hi. first thanku for sharing this. but I have a doubt in your heading "Key Factor Traced" where you have written - Volume: WMA (Weighted Moving Avg .) What you are saying is through WMA you are tracking volume. but that's not true. Weighted Moving Average doesn't consider Volume , it's simply giving more weightage to the latest prices while calculating moving average. Could you pls check and confirm here that you wanted to use WMA or VWMA which is Volume Weighted Moving Average.
+5 Reply
how to backtest this ??
+2 Reply
why you had used sma at the place of wma , can i know the reason.?
abhaynair sreeramu
@sreeramu, This was a bug i missed. Thank you for bringing this up. I have updated the script to reflect WMA parameters instead of SMA.
+3 Reply
krishprasad abhaynair
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