This is my first published script. I hope it might be useful!
This is a modified RSI that attempts to give smoother values. It takes 4 different input lengths and plots them in a similar way as Heikin-Ashi candles does. It can be used in the same way as a regular RSI. It also includes Bollinger Bands that might help identify overbought/oversold situations.
The script uses a slightly modified Allanster's 'Heikin Ashi source function' (many thanks for that very useful script!).
Just realized that JayRogers published a very similar script, 'Heikin Ashi RSI Oscillator', a few days ago. The output is similar despite my very limited programming skills :)
javabgar
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Needless to say, JayRogers script is much better and was published first... so I recommend his code rather than this
JayRogers
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@javabgar, Your implementation is quite different, with it's own merits. I particularly like your use of array sort here:
array.sort(heikinarray, order.descending)
to determine OHLC order. Very effective usage of that functionality.
Also my script does not attempt anything with stdev, so you're bringing something else to the table with that - so it's not a matter of "who's code is better" at all.