WhenToTrade

RSI cyclic smoothed v2

Cyclic Smoothed Relative Strength Indicator

The cyclic smoothed RSI indicator is an enhancement of the classic RSI , adding

  • additional smoothing according to the market vibration,
  • adaptive upper and lower bands according to the cyclic memory and
  • using the current dominant cycle length as input for the indicator.

The cRSI is used like a standard indicator. The chart highlights trading signals where the signal line crosses above or below the adaptive lower/upper bands. It is much more responsive to market moves than the basic RSI .

You can also review this short idea where BTC went down from 4300 USD (3 Sept 17) to 3700 USD (15 Sept 17) after the idea was posted and showed the clear short exit with the next low:

The indicator uses the dominant cycle as input to optimize signal, smoothing and cyclic memory. To get more in-depth information on the cyclic-smoothed RSI indicator, please read Chapter 4 "Fine tuning technical indicators" of the book "Decoding the Hidden Market Rhythm, Part 1" available at your favorite book store.

This is the open-source code version of the requested script already published as protected indicator back in 2017 "RSI cyclic smoothed". Now made public as v2. Would love to receive feedback and see your ideas.
Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con las Normas internas. Puede marcarlo como favorito para usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?
Lars von Thienen

Cycle Analysis Tools
https://www.whentotrade.com

TradingView Cycle Knowledge Docs
https://docs.cycle.tools/books/tradingview-cycle-analysis-indicator

Comentarios

500 monedas
+2 Responder
WhenToTrade PineCoders
@PineCoders, thank you.
Responder
hi sir not showing
green and red signal
+39 Responder
WhenToTrade ankitmenezes
@ankitmenezes, The green/red signals are only added to highlight/show the important turns in comparison to the standard RSI. The usage is to look out for turns above the adaptive oversold/overbought bands. But it should be easy to code these turns in a strategy. I have not coded it as there are multiple ways to use the indicator for trading strategies. The objective here is to share an improved RSI indicator. The same concepts how to use these indicator types for trading would apply.
+7 Responder
Great indicator, do you have the script for the strategy?
+16 Responder
I swear you'll be the first person I donate too.
+13 Responder
michaeldouglas1915 bassilsoueiti
@bassilsoueiti, nice comment. I'll do the same. Something worth looking at.
Responder
Based on your community questions, I have recorded a short video on how to use this indicator to spot turns. There is a reason I have not coded the "green" or "red" signals into the script. There are different ways on using this indicator than just the simple turns. This following video outlines a possible use:

+8 Responder
OutsourcE WhenToTrade
@WhenToTrade, can you do rsx instead?
Responder
This publication is now featured in our Editors' Picks. In the name of all TradingView traders, thank you for your valuable contribution to the TradingView community, and congrats!
+7 Responder
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