Relative Strength & sma delta — Indicator by MarcoValente

2 RSI with different length at your choise, with 2 sma signal. 4 Plots show the difference between the 2 RSI and 2 Signals , the difference of the 2 RSI and the difference of the Delta of the 2 RSI. So you can have a close view toghether with a bird s eye view. The black line is the middle way.

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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Want to use this script on a chart?

//version@2
study(title="Relative Strength Index diff", shorttitle="DIF RSI")
src = close, len = input(21, minval=1, title="Length RSI 1")
sig=input(6,"signal RSI len")
up = rma(max(change(src), 0), len)
down = rma(-min(change(src), 0), len)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
sr=rsi-sma(rsi,sig)
plot(sr,title="Rsi-sig=Delta1", color=sr>0?green:red,style=area,linewidth=2,transp=50)
band0 = hline(0)
lenq = input(11, minval=1, title="Length RSI 2")
upq = rma(max(change(src), 0), lenq)
downq = rma(-min(change(src), 0), lenq)
rsiq = downq == 0 ? 100 : upq == 0 ? 0 : 100 - (100 / (1 + upq / downq))
srq=rsiq-sma(rsiq,sig)
dq=sma((srq-sr),6)
plot(dq,title="delta1 - delta2", color=black,transp=0)
plot(srq,title="Rsi2 - sig=Delta2",color=blue)
dif=linreg((rsiq-rsi),4,0)
plot(dif,title="Rsi1-Rsi2",style=area,color=dif>0?lime:red,linewidth=2,transp=70)