OPEN-SOURCE SCRIPT
Banana RSI
Actualizado
Banana RSI is not just ap-PEAL-ing to the eyes!
This simple little indicator provides a New Approach to determining Overbought and Oversold levels, as well as taking advantage of a non-typical smoothing method for this type of indicator.
Banana RSI uses a Cumulative High and Low Average to draw the upper, lower, and midline.
The High and Low Averages use the data only from above or below the Cumulative Average to calculate their respective line.
In simpler terms:
This creates an automated method to determine overbought and oversold territory based on the charts historical movement.
Since every chart can be different, these levels change with the chart.
Banana RSI also uses a linear regression smoothing method, by taking advantage of the built-in Least Squares Moving Average, we are able to view a better reacting/less-lagging moving average.
Included are 2 Length-Adjustable LSMA lines to use however needed.
Using the Regression Lines along with the High & Low Averages provides a new view on the classic RSI indicator.
Enjoy!
This simple little indicator provides a New Approach to determining Overbought and Oversold levels, as well as taking advantage of a non-typical smoothing method for this type of indicator.
Banana RSI uses a Cumulative High and Low Average to draw the upper, lower, and midline.
The High and Low Averages use the data only from above or below the Cumulative Average to calculate their respective line.
In simpler terms:
- The High average is an average of every value ABOVE the full average.
- The Low average is an average of every value BELOW the full average.
This creates an automated method to determine overbought and oversold territory based on the charts historical movement.
Since every chart can be different, these levels change with the chart.
Banana RSI also uses a linear regression smoothing method, by taking advantage of the built-in Least Squares Moving Average, we are able to view a better reacting/less-lagging moving average.
Included are 2 Length-Adjustable LSMA lines to use however needed.
Using the Regression Lines along with the High & Low Averages provides a new view on the classic RSI indicator.
Enjoy!
Notas de prensa
formatting errorScript de código abierto
Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.
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