TurboRSI Pro [JOAT]

TurboRSI Pro - Multi-Length RSI Ensemble with Dynamic Momentum Analysis

Introduction

TurboRSI Pro is an open-source indicator that reimagines the classic RSI by calculating multiple RSI lengths simultaneously and combining them into a single, more reliable momentum reading. Instead of relying on a single RSI period that may lag or produce false signals, this indicator creates an ensemble of RSI values across a configurable range, providing a smoother and more robust momentum assessment.

The indicator is designed for traders who want deeper insight into momentum conditions without the noise that comes from single-period oscillators.

Originality and Purpose
This indicator is NOT a simple RSI with different settings. It is an original implementation that solves a fundamental problem with traditional RSI:

• The Problem with Single-Period RSI: Traditional RSI uses a single lookback period (typically 14). The issue is that different market conditions favor different RSI lengths. A 14-period RSI might work well in one market phase but produce false signals in another. There's no "perfect" RSI length that works in all conditions.
  
• The Multi-Length Solution: TurboRSI Pro calculates RSI across a range of lengths (default: 10 to 20) simultaneously, then averages all values to create a composite reading. This ensemble approach filters out period-specific noise while preserving genuine momentum shifts. When multiple RSI lengths agree, the signal is more reliable.
  
• OB/OS Strength Percentage: The indicator tracks how many individual RSI lengths are in overbought or oversold territory. When 100% of lengths are overbought, it's a much stronger signal than when only 50% are. This percentage-based approach is original to this indicator and provides conviction assessment.
  
• Candle Heatmap Innovation: An optional feature colors price bars based on deviation from a 200-bar linear regression line. This shows when price is statistically overextended (HOT/COLD) independent of RSI, providing another layer of analysis.
  

How the components work together:

• Multi-length RSI ensemble provides a more robust momentum reading than single-period RSI
  
• OB/OS Strength percentages quantify how many timeframes agree on the momentum condition
  
• Dynamic channels expand/contract based on momentum strength across all calculated lengths
  
• Candle heatmap adds statistical price deviation context independent of RSI
  

Core Concept: Multi-Length RSI Ensemble

Traditional RSI uses a single lookback period (typically 14). The problem is that different market conditions favor different RSI lengths. TurboRSI Pro solves this by:

• Calculating RSI across a range of lengths (default: 10 to 20)
  
• Averaging all RSI values to create a composite reading
  
• Tracking how many individual RSI lengths are in overbought or oversold territory
  
• Displaying this information as "OB Strength" and "OS Strength" percentages
  

This approach filters out noise while preserving genuine momentum shifts.

How the Multi-Length RSI Works

The calculation uses an efficient array-based approach:

int N = maxLength - minLength + 1
float diff = nz(srcInput - srcInput[1])

for i = 0 to N - 1
    int len = minLength + i
    float alpha = 1.0 / len
    float numRma = alpha * diff + (1 - alpha) * array.get(numArr, i)
    float denRma = alpha * math.abs(diff) + (1 - alpha) * array.get(denArr, i)
    float rsiVal = denRma != 0 ? 50 * numRma / denRma + 50 : 50
    avgRSI += rsiVal

Each RSI length is calculated using the RMA (Running Moving Average) formula, then all values are averaged. The result is a composite RSI that responds to momentum changes while filtering out period-specific noise.

Visual Components

1. Multi-Length RSI Line
The main oscillator line displays the averaged RSI value with a gradient color:

• Green gradient when RSI is above 50 (bullish momentum)
  
• Red gradient when RSI is below 50 (bearish momentum)
  
• Color intensity increases as RSI approaches extreme levels
  

2. Dynamic Channels
Two adaptive channel lines track momentum extremes:

• Upper Channel: Expands when multiple RSI lengths enter overbought territory
  
• Lower Channel: Expands when multiple RSI lengths enter oversold territory
  
• Channel width indicates momentum strength across all calculated lengths
  

3. Candle Heatmap
An optional feature that colors price bars based on deviation from a linear regression line:

• Red/Orange bars: Price is significantly above the regression line (overextended to upside)
  
• Blue bars: Price is significantly below the regression line (overextended to downside)
  
• Yellow bars: Price is near the regression line (neutral)
  

The heatmap uses a 200-bar regression calculation to identify when price has deviated significantly from its statistical trend.

4. Reference Lines
Standard RSI reference levels are displayed:

• 80 and 20: Extreme overbought/oversold
  
• 70 and 30: Standard overbought/oversold thresholds
  
• 50: Neutral momentum line
  

5. Background Zones
Shaded areas indicate the percentage of RSI lengths in extreme territory:

• Green shading from bottom: Percentage of lengths in overbought
  
• Red shading from top: Percentage of lengths in oversold
  

Dashboard Panel

The dashboard displays real-time analysis in a 7-row table:

• RSI Value: Current composite RSI reading (large text for visibility)
  
• Momentum: Current state - OVERBOUGHT, OVERSOLD, BULLISH, BEARISH, or NEUTRAL
  
• OB Strength: Percentage of RSI lengths currently above the overbought threshold
  
• OS Strength: Percentage of RSI lengths currently below the oversold threshold
  
• Heat Level: Current price deviation state - HOT, WARM, NEUTRAL, COOL, or COLD
  
• Trend Bias: Overall trend assessment based on RSI level and channel direction
  

Optional Stochastic RSI

When enabled, an additional Stochastic RSI line is plotted. This applies the stochastic formula to the RSI itself, providing another layer of momentum analysis. The Stochastic RSI is more sensitive to short-term momentum shifts.

Input Parameters

RSI Settings:

• Min RSI Length: Starting length for the RSI range (default: 10)
  
• Max RSI Length: Ending length for the RSI range (default: 20)
  
• Source: Price source for calculation (default: ohlc4)
  
• Overbought: Upper threshold (default: 70)
  
• Oversold: Lower threshold (default: 30)
  

Candle Heatmap:

• Enable Heatmap: Toggle bar coloring on/off (default: enabled)
  
• Regression Length: Lookback for linear regression calculation (default: 200)
  

Display:

• Show Dashboard: Toggle the information panel (default: enabled)
  
• Show Dynamic Channels: Toggle channel lines (default: enabled)
  
• Show Stochastic RSI: Toggle additional Stoch RSI line (default: disabled)
  

Colors:

• Bullish: Color for bullish conditions (default: teal)
  
• Bearish: Color for bearish conditions (default: red)
  
• Neutral: Color for neutral conditions (default: gray)
  

How to Use TurboRSI Pro

Identifying Momentum Shifts:

• Watch for RSI crossing above 50 for bullish momentum confirmation
  
• Watch for RSI crossing below 50 for bearish momentum confirmation
  
• Use the gradient color to quickly assess momentum direction
  

Using OB/OS Strength:

• When OB Strength reaches 100%, all RSI lengths are overbought - strong reversal potential
  
• When OS Strength reaches 100%, all RSI lengths are oversold - strong bounce potential
  
• Partial readings (e.g., 50%) indicate mixed conditions across timeframes
  

Heatmap Analysis:

• HOT readings combined with high RSI suggest overextension - caution for longs
  
• COLD readings combined with low RSI suggest oversold conditions - watch for reversal
  
• Use heatmap divergence from RSI for additional confirmation
  

Channel Interpretation:

• Expanding upper channel with rising RSI confirms strong bullish momentum
  
• Expanding lower channel with falling RSI confirms strong bearish momentum
  
• Channel contraction suggests momentum is weakening
  

Alert Conditions

Six alert conditions are available:

• RSI Overbought: RSI crosses above overbought threshold
  
• RSI Oversold: RSI crosses below oversold threshold
  
• RSI Bullish Cross: RSI crosses above 50
  
• RSI Bearish Cross: RSI crosses below 50
  
• All RSI Overbought: Every RSI length is in overbought territory
  
• All RSI Oversold: Every RSI length is in oversold territory
  

Best Practices

• Use on higher timeframes (1H, 4H, Daily) for more reliable signals
  
• Combine with price action analysis - RSI confirms, it does not predict
  
• Pay attention to OB/OS Strength percentages for conviction assessment
  
• The heatmap works best on assets with clear trending behavior
  
• Adjust min/max RSI lengths based on your trading style - wider range for smoother signals
  

Limitations

• Like all oscillators, can remain in overbought/oversold territory during strong trends
  
• The heatmap regression may lag during rapid price movements
  
• Multi-length calculation requires more processing than single RSI
  
• Best suited for swing trading and position trading timeframes
  

Technical Notes

This indicator is written in Pine Script v6 and uses:

• Array-based calculations for efficient multi-length RSI computation
  
• Linear regression for heatmap deviation analysis
  
• Gradient coloring for intuitive visual feedback
  
• State management for dynamic channel calculations
  

The source code is open and available for review and modification.

Disclaimer

This indicator is provided for educational and informational purposes only. It is not financial advice. Trading involves substantial risk of loss. Past performance does not guarantee future results. Always conduct your own analysis and use proper risk management.

-Made with passion by officialjackofalltrades