Double Relative Strength Index - DRSI🎯 Overview
This is the Double Relative Strength Index (DRSI) indicator for TradingView - an advanced momentum oscillator that applies a unique mathematical transformation to traditional RSI, creating amplified signals with reduced lag while maintaining trend awareness ⚡
🧩 Core Components
⚙️ Indicator Settings
🎛️ Input Parameters
A. 🎨 Color Settings:
6 different color themes: 🎨 Classic, ✨ Neon, 🚀 Modern, 💪 Robust, 🌈 Accented, ⚫⚪ Monochrome
Each theme provides distinct bullish/bearish color pairs
B. 📊 DRSI Configuration:
📏 Length: Default 14 periods
📈 Source: Default close price (customizable)
📈 Long Threshold: Default 57 (asymmetric upper level)
📉 Short Threshold: Default 56 (asymmetric lower level)
🧮 Technical Calculations
A. 📈 Double RSI Formula:
DRSI = 2 × RSI - RSI(RSI)
First: Standard RSI calculation
Second: RSI applied to first RSI values
Mathematical transformation amplifies momentum changes
B. 🔄 State Tracking System:
State persists until opposite threshold is crossed
Reduces whipsaws through state memory
C. 🔔 Signal Detection:
🟢 isBull_D_RSI: (bullish condition)
🔴 isBear_D_RSI: (bearish condition)
🟢 Bull_D_RSI: Crossover signal (DRSI crosses above Long Threshold)
🔴 Bear_D_RSI: Crossunder signal (DRSI crosses below Short Threshold)
👁️ Visual Elements
A. 📉 Main Plots:
📊 DRSI Line: Thick line (width 2) colored conditionally based on position relative to thresholds
🎯 Long Threshold Line: Upper boundary with thematic bullish color
🎯 Short Threshold Line: Lower boundary with thematic bearish color
B. 🎨 Fill Areas:
🟢 Overbought Zone: Filled between DRSI and Long Threshold
🔴 Oversold Zone: Filled between DRSI and Short Threshold
🌈 Dynamic Middle Fill: Adaptive area that shifts based on market state
C. 📊 Enhanced Visualization:
🎨 Colored Candles: Price bars colored based on DRSI signal state
🔺 Signal Markers: Triangle indicators above/below bars for entry signals
📝 Current Value Label: Real-time DRSI value displayed on last bar
D. 📋 Table Display:
Shows "⬆️ Bullish", "⬇️ Bearish", or "🔀 Reversion" with appropriate coloring
🔔 Alert System
🟢 LONG Alert: Triggers when DRSI crosses above Long Threshold
🔴 SHORT Alert: Triggers when DRSI crosses below Short Threshold
Includes ticker symbol in alert message
🏁 Trading Logic
🎯 Primary Signals:
🟢 Bullish Setup:
📈 DRSI crosses above Long Threshold (57)
📊 Bullish state persists while DRSI > Short Threshold
🎨 Visual: Theme bull colors, bullish fills, up triangles
🔴 Bearish Setup:
📉 DRSI crosses below Short Threshold (56)
📊 Bearish state persists while DRSI < Long Threshold
🎨 Visual: Theme bear colors, bearish fills, down triangles
✨ Key Features:
⚡ Amplified Momentum: Double calculation provides faster response than standard RSI
🛡️ State Persistence: Reduces whipsaws by maintaining signal until opposite threshold crossed
🎯 Asymmetric Thresholds: 57/56 levels account for market bias vs traditional 70/30
👁️ Multi-Layer Visualization: Candles, fills, markers, and table provide comprehensive view
🛠️ Customizability: Six color themes adapt to different preferences and trading styles
💻 Code Structure
The script is well-organized with clear sections:
⚙️ Input settings
🧮 DRSI calculations
🔄 State tracking logic
🎨 Color definitions
📊 Multi-layer plotting
📋 Table display
🔔 Alert conditions
🎯 Best Use Cases
📈 Momentum Trading: Detects accelerating/decelerating momentum with reduced lag
🔄 Swing Trading: Asymmetric thresholds work well for swing entry/exit points
⚡ Responsive Signals: Faster than traditional RSI for timely entries
📊 Multi-Timeframe Analysis: Works across various timeframes for confirmation
✅ Signal Filtering: State persistence filters out noise and false breakouts
🏆 Unique Advantages
🎯 Mathematical Innovation: DRSI formula transforms traditional oscillator behavior
🛡️ Reduced Whipsaws: State tracking prevents premature signal reversals
👁️ Comprehensive Display: Four visual layers (candles, fills, markers, table) communicate clearly
⚡ Balanced Responsiveness: Faster than traditional RSI but more stable than raw momentum
💼 Professional Presentation: Clean, modern interface suitable for serious trading analysis
Indicador Pine Script®






















