OPEN-SOURCE SCRIPT
NET MyRSI
In this script, I will convert the MyRSI function from John F. Ehlers mentions in the May 2018 issue of Stocks and Commodities. I will build on top of the idea and add a noise elimination Technique presented in the December 2020 issue of Stocks and Commodities.
My Rsi
Is an RSI alike version of the well-known RSI indicator where the output is range-bound between -1 and 1 values. The indicator accrues Closes up and Closes down and plots their ratio divided by their sum.
Noise Elimination Technique
As a noise elimination technique, we are using a slightly modified and simplified version of Kendall Correlation that allows us to use it on a single indicator. In general Kendall Correlation is used to measure an association between two sets of variables.
Conclusion
This publishing is solely for research purposes and should not be directly traded with. More detailed information can be found in those Two publications of Stocks and Commodities.
My Rsi
Is an RSI alike version of the well-known RSI indicator where the output is range-bound between -1 and 1 values. The indicator accrues Closes up and Closes down and plots their ratio divided by their sum.
Noise Elimination Technique
As a noise elimination technique, we are using a slightly modified and simplified version of Kendall Correlation that allows us to use it on a single indicator. In general Kendall Correlation is used to measure an association between two sets of variables.
Conclusion
This publishing is solely for research purposes and should not be directly traded with. More detailed information can be found in those Two publications of Stocks and Commodities.
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.
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