OPEN-SOURCE SCRIPT
Updated Ultra RSI [DW]
This is an RSI Variation with six different averaging methods to choose from.
The averaging methods I've included in this script are:
- Exponential Moving Average
- Simple Moving Average
- Smoothed Moving Average
- Weighted Moving Average
- Volume Weighted Moving Average
- Arnaud Legoux Moving Average
Each method produces a different, yet significant gauge of relative strength.
Custom bar colors are included.
The averaging methods I've included in this script are:
- Exponential Moving Average
- Simple Moving Average
- Smoothed Moving Average
- Weighted Moving Average
- Volume Weighted Moving Average
- Arnaud Legoux Moving Average
Each method produces a different, yet significant gauge of relative strength.
Custom bar colors are included.
Release Notes
Updates:- Added two more averages, Coefficient of Variation Weighted Moving Average and Kaufman's Adaptive Moving Average, to the available averaging methods.
- Added a Laguerre mode to the script, which calculates the RSI using the Laguerre method instead of the conventional method when enabled.
Release Notes
Updates:Updated the filter types for RSI calculation
The available filters for RSI calculation are:
-> Exponential Moving Average
-> Double Exponential Moving Average
-> Simple Moving Average
-> Smoothed Moving Average
-> Weighted Moving Average
-> Volume Weighted Moving Average
-> Arnaud Legoux Moving Average
-> Coefficient of Variation Moving Average
-> Kaufman's Adaptive Moving Average
The filter type and RSI type are selectable via easy to use dropdown menus.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
For my full list of premium tools, check the blog:
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
For my full list of premium tools, check the blog:
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
wallanalytics.com/
Reach out on Telegram:
t.me/DonovanWall
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.