OPEN-SOURCE SCRIPT
ADX, RSI, & TSI utilized as ARTI [by KeremErtem]
The ARTI indicator, designed by Kerem Ertem, merges the power of three technical analysis tools: the Average Directional Index (ADX), the Relative Strength Index (RSI), and the True Strength Index (TSI). By combining these indicators, ARTI provides a comprehensive view of market momentum, trend strength, and potential reversals. This unique approach aims to offer a more robust and reliable signal for traders to make informed decisions.
How It Works:
Source Input: The primary data source is hlc3 (High, Low, Close average), but you can customize it as needed.
Smoothing: The smoothing parameter (l0) helps in reducing noise for clearer signals.
Signal Period & Lookback Range: These parameters (l1 and l2) define the period for signal calculation and the range for historical data analysis.
Indicator Components:
ACI Function:
The ACI function calculates an adjusted price angle, providing a unique perspective on price movements.
It uses lowest and highest prices within a lookback range to calculate an average (sf0), deviation (sf1), and the angle (sf3).
Relative Strength Index (RSI):
RSI is calculated over a specified length (goguz) and smoothed using the ACI function to provide a refined measure of price momentum.
Average Directional Index (ADX):
ADX, along with its positive (dip) and negative (dim) directional movement indicators, measures trend strength.
It is smoothed with the ACI function to enhance its reliability.
ARTI Indicator Calculation:
The ARTI indicator combines the smoothed RSI and ADX values.
It applies the True Strength Index (TSI) to the average of these smoothed values to generate the ARTI signal.
The signal is further refined with weighted average (ALMA) and standard deviation calculations to define upper, lower, and center bands.
Usage:
ART Signal Line: Plotted with color changes indicating bullish (#00ffbb) or bearish (#ff1100) trends based on directional changes.
Upper and Lower Bands: Define potential price reversal zones, providing visual cues for overbought or oversold conditions.
Center Line: Represents the average price level, helping traders understand the general price trend.
By combining these multiple technical indicators, the ARTI script provides a multifaceted view of the market, helping traders identify potential entry and exit points with greater accuracy. Use this script to enhance your trading strategies by understanding the underlying trends, momentum, and potential reversals in the market.
Feel free to experiment with different parameter settings to tailor the indicator to your specific trading style and preferences. Happy trading! 📈
How It Works:
Source Input: The primary data source is hlc3 (High, Low, Close average), but you can customize it as needed.
Smoothing: The smoothing parameter (l0) helps in reducing noise for clearer signals.
Signal Period & Lookback Range: These parameters (l1 and l2) define the period for signal calculation and the range for historical data analysis.
Indicator Components:
ACI Function:
The ACI function calculates an adjusted price angle, providing a unique perspective on price movements.
It uses lowest and highest prices within a lookback range to calculate an average (sf0), deviation (sf1), and the angle (sf3).
Relative Strength Index (RSI):
RSI is calculated over a specified length (goguz) and smoothed using the ACI function to provide a refined measure of price momentum.
Average Directional Index (ADX):
ADX, along with its positive (dip) and negative (dim) directional movement indicators, measures trend strength.
It is smoothed with the ACI function to enhance its reliability.
ARTI Indicator Calculation:
The ARTI indicator combines the smoothed RSI and ADX values.
It applies the True Strength Index (TSI) to the average of these smoothed values to generate the ARTI signal.
The signal is further refined with weighted average (ALMA) and standard deviation calculations to define upper, lower, and center bands.
Usage:
ART Signal Line: Plotted with color changes indicating bullish (#00ffbb) or bearish (#ff1100) trends based on directional changes.
Upper and Lower Bands: Define potential price reversal zones, providing visual cues for overbought or oversold conditions.
Center Line: Represents the average price level, helping traders understand the general price trend.
By combining these multiple technical indicators, the ARTI script provides a multifaceted view of the market, helping traders identify potential entry and exit points with greater accuracy. Use this script to enhance your trading strategies by understanding the underlying trends, momentum, and potential reversals in the market.
Feel free to experiment with different parameter settings to tailor the indicator to your specific trading style and preferences. Happy trading! 📈
Script de código aberto
No verdadeiro espírito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam compreendê-lo e analisá-lo. Parabéns ao autor! Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações é regida pelas Regras da Casa. Você pode favoritá-lo para usá-lo em um gráfico.
Quer usar esse script no gráfico?
Aviso legal
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