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Dynamic RSI for Amibroker (AFL)
Rating:
3 / 5 (Votes 6)
Tags:
oscillator, amibroker
A nice, smoothed RSI that adapts dynamically to price levels. I use it to spot divergence setups faster than regular RSI.
Screenshots
Indicator / Formula
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 | // AFL for Dynamic RSI//============================================================_SECTION_BEGIN("Dynamic RSI");DZbuy = Param("Buy Zone Probability",0.1,0.1,0.5,0.1);DZsell = Param("Sell Zone Probability",0.1,0.1,0.5,0.1);Period = Param("Period", 14, 2, 30, 1);Lb = Param("LookBack Period",60,40,120,1);RSILine = RSI(Period);jh = HHV(RSILine,Lb);jl = LLV(RSILine,Lb);jc = (WMA((jh-jl),Period)*0.50)+WMA(jl,Period);Hiline = jh-jc*DZbuy;Loline = jl+jc*DZsell;//midline = (jh-jl)/2;Plot(HiLine,"",colorDarkRed, styleThick| styleDashed);Plot(LoLine,"",colorDarkRed, styleDashed|styleThick);Plot(jc, "",colorGrey40, styleDashed|styleThick);R = ( 4 * RSILine + 3 * Ref(RSILine,-1) + 2 * Ref(RSILine,-2) + Ref(RSILine,-3) ) / 10;Plot(R,"",IIf(R>jc,colorLime,colorRed),styleThick);kh = IIf(R>Hiline, R,Hiline);PlotOHLC( kh,kh,Hiline,Hiline, "", IIf(R>HiLine,colorLime,colorBlack), styleCloud );kl = IIf(R <Loline, R,Loline);PlotOHLC( Loline,Loline,kl,kl, "", IIf(R<HiLine,colorRed,colorBlack), styleCloud );Title = Name() + "- Floating Level RSI V1.0(" + WriteVal(period, 1.0) + ")"; |
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VERY GOOD LOGIC.CONGRATS
Very good
Hi, thank you for sharing.
May I know if the upper and lower limits are based on Bollinger Band?
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excellent indicator.