Cutlers RSI

Cutlers' RSI is a variation of the original RSI Developed by Welles Wilder.
This variation uses a simple moving average instead of an exponetial.
Since a simple moving average is used by this variation, a longer length tends to give better results compared to a shorter length.

CALCULATION

• Step1: Calculating the Gains and Losses within the chosen period.
  
• Step2: Calculating the simple moving averages of gains and losses.
  
• Step3: Calculating Cutler’s Relative Strength (RS). Calculated using the following:
  
• -> Cutler’s RS = SMA(gains,length) / SMA(losses,length)
  
• Step 4: Calculating the Cutler’s Relative Strength Index (RSI). Calculated used the following:
  
• -> RSI = 100 — [100/(1 + RS)]
  

I have added some signals and filtering options with moving averages:

• Trend OB/OS: Uptrend after above Overbought Level. Downtrend after below Oversold Level.
  
• OB/OS: When above Overbought, or below oversold
  
• 50-Cross: Above 50 line is uptrend, below is downtrend
  
• Direction: Moving up or down
  
• RSI vs MA: RSI above MA is an uptrend, RSI below MA is a downtrend
  

The signals I added are just some potential ideas, always backtest your own strategies.