Function StochRSI
Stochastic Relative Strength Index developed by Tushar Chande and Stanley Kroll.
This script has been written to eliminate the period variable.(Integer)
Thus, it can be used comfortably in adaptive period scripts ! (For example : Adaptive Moving Average , KAMA , FAMA .. etc. )
All efforts goes to ChaosTrader (www.tradingview.com/...t/I6rPLr4c-StochRSI/) ,
RicardoSantos (tradingview.com/scri...tion-Highest-Lowest/) ,
Hpotter for barcolor codes (iff) (www.tradingview.com/...w-Kurtosis-Backtest/)
I hope it will help your new ideas . Best regards ! Noldo .
This script has been written to eliminate the period variable.(Integer)
Thus, it can be used comfortably in adaptive period scripts ! (For example : Adaptive Moving Average , KAMA , FAMA .. etc. )
All efforts goes to ChaosTrader (www.tradingview.com/...t/I6rPLr4c-StochRSI/) ,
RicardoSantos (tradingview.com/scri...tion-Highest-Lowest/) ,
Hpotter for barcolor codes (iff) (www.tradingview.com/...w-Kurtosis-Backtest/)
I hope it will help your new ideas . Best regards ! Noldo .
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Dear users, I made a big mistake. I have analyzed the Stochastic Oscillator function instead of StochRSI.This is the correct function. Also added alarms. Best regards !
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Added some values for better observation.
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UPDATE :The rsi code pattern prepared by Tradingview is used. (Line 65 ) Because it is much more efficient where the period is less than 1.
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This is the most effective version than the others.
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This is to avoid distress if the variable average period drops to values between 0 and 1. (RSI Functions )
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Update : Colors