ortiemm

Orti Relative Strength Index (Static Timeframe Multi-Period)

The "Orti Relative Strength Index (Static Timeframe Multi-Period)” is now a public script, based into an existing study named "Relative Strength Index or RSI", but with some better functions about time frame and its measurament.

The cherry on the top, for this private version: is when you want to get a predetermined count in a natural “units of time" as minutes, hours or days, in any graph you could get a static average, and this count will be automatically respected. For example, an average could be configurated to know a trend per day, week or month... or whatever comes to mind, and at every single chart that you move through (5m, 15m, 1h, 4h, etc), you will see the same average to make your own "trend analysis" into a micro/macro market view.

The Relative Strength Index is a Momentum Indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100.

The average gain or loss used in the calculation is the average percentage gain or losses during a lookback period. Traditional interpretation and usage of the RSI is that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition.

For more technical information look at Investopedia.

Note: The previous calculation example is not the default, the parameters can be adjusted according to the criteria of the merchant.
Script protegido
Este script se publica con código cerrado y puede usarlo libremente. Puede marcarlo como favorito para utilizarlo en un gráfico. No puede ver ni modificar su código fuente.
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