INVITE-ONLY SCRIPT
YK_28CRYPTO_Custom_RSI
Custom RSI over EMA
22/11 Crossover
Financial Interpretation: The Relative Strength Index is useful for detecting Movement which is not readily apparent, and also as a Reversal signal using Divergence between the RSI and price (an RSI above 70 or below 30 warns of coming reversals). The Relative Strength Index is smoother than the Rate of Change.
Calculation: The Relative Strength index is calculated using following algorithm:
1. Average Upward Price Move = EMA( Sum of all upward movements in Closing price )
2. Average Downward Price Move = EMA( Sum of all downward movements in Closing price )
3. Calculate Relative Strength (RS):
RS = Average Upward Price Move / Average Downward Price Move
4. Calculate the Relative Strength Index (RSI):
RSI = 100 - 100 / ( 1 + RS )
It warns of coming reversal convergence/divergence combined with Heiken Ashi
22/11 Crossover
Financial Interpretation: The Relative Strength Index is useful for detecting Movement which is not readily apparent, and also as a Reversal signal using Divergence between the RSI and price (an RSI above 70 or below 30 warns of coming reversals). The Relative Strength Index is smoother than the Rate of Change.
Calculation: The Relative Strength index is calculated using following algorithm:
1. Average Upward Price Move = EMA( Sum of all upward movements in Closing price )
2. Average Downward Price Move = EMA( Sum of all downward movements in Closing price )
3. Calculate Relative Strength (RS):
RS = Average Upward Price Move / Average Downward Price Move
4. Calculate the Relative Strength Index (RSI):
RSI = 100 - 100 / ( 1 + RS )
It warns of coming reversal convergence/divergence combined with Heiken Ashi
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