TASC 2022.01 Improved RSI w/Hann


TASC's January 2022 edition Traders' Tips includes the "(Yet Another Improved) RSI Enhanced With Hann Windowing" article authored by John Ehlers . Once again John Ehlers revolutionizes the RSI indicator. This is TradingView's Pine Script code for the indicator.


By employing a Hann windowed finite impulse response filter (FIR), John Ehlers has enhanced the "Relative Strength Indicator" (RSI) to provide an improved oscillator with exceptional smoothness.


The method of calculations using "closes up" and "closes down" from Welles Wilder's RSI described in his 1978 book is still inherent to Ehlers enhanced formula. However, a finite impulse response (FIR) Hann windowing technique is employed following the closes up/down calculations instead of the original Wilder infinite impulse response averaging filter. The resulting oscillator waveform is confined between +/-1.0 with a 0.0 centerline regardless of chart interval, as opposed to Wilder's original formulation, which was confined between 0 and 100 with a centerline of 50. On any given trading timeframe, the value of Ehlers' enhanced RSI found above the centerline typically represents an overvalued region, while undervalued regions are typically found below the centerline.

The original RSI indicator was designed by J. Welles Wilder and presented in his "New Concepts in Technical Trading Systems" book published in 1978.

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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。