RSI with Smoothing and over-areas colored

2019年5月31日

I have noticed that lower length-values for RSI give much better signals for day and swing trading than default 14 bars back period. Also smoothing the RSI line by using moving average method reduces some of the noise/fake turn-backs.
Here you can change:
- bars back of RSI (default 4)
- smoothing the line (default 3)
- bars colorization of RSI's uptrend and downtrend (default ON)

I encourage you to play around with parameters to fit your favourite intervals best way.

If you would like to have BUY and SELL signals same as on the chart above, here you have my complementary script for that:

2019年6月2日

リリースノート

Now you can manually set the values for over bought/sold areas (default is 70 and 30).

2019年12月7日

リリースノート

- 50% line added on osscilator
- default candles colorization is now off
There is new BUY/SELL Arrows script avaliable, much better than previous one. Here you have the link: