LuxAlgo

RSI Multi Length [LUX]

The following indicator aims to return information over RSIs using multiple periods, including the percentage of RSIs of different periods being overbought/oversold, as well as the average between these multiple RSIs.

The percentage of RSIs of different periods being overbought/oversold is additionally used to return adaptive overbought/oversold levels.

Settings

  • Maximum Length: Maximum period of the RSI used for the indicator calculation
  • Minimum Length: Minimum period value of the RSI used for the indicator calculation
  • Overbought: Value of the overbought level
  • Oversold: Value of the oversold level
  • Src: Input source of the indicator

Usage


The main element of the indicator is given by the multi-length RSI average, returning an oscillator similar to a fixed-length RSI . Because of its multiple length nature, the indicator can reflect shorter to longer-term price variations depending on the Maximum/Minimum length range defined by the user.

The green area indicates the percentage of RSIs over the user-defined overbought level. The red area indicates the percentage of RSIs under the user-defined oversold level, this percentage is inverted for ease of visualization. Additionally, a dashboard at the top right of the indicator pane indicates these percentages for the most recent bar.


A lower percentage of overbought/oversold RSIs can indicate a potential shorter-term retracement.

These percentages are used to construct adaptive overbought/oversold levels for the average multi-length RSI . The overbought level will be easier to reach if the percentage of overbought RSI's is high, the same logic applies to the adaptive oversold level.

开源脚本

本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物中重复使用此代码受网站规则的约束。 您可以收藏它以在图表上使用。

免责声明

这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其他类型的意见或建议。请在使用条款阅读更多信息。

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