In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 27/06/2014 // FSRS is the modification of FSK indicator. It uses RSI in the calculation. // The FSRS (Fast & Slow RSI) is constructed from five different parts. // The Kurtosis, the Fast Kurtosis(FK), the Fast/Slow Kurtosis(FSK), FSRS and Weighted FSRS. //////////////////////////////////////////////////////////// study(title="FSRS (Fast and Slow Kurtosis)", shorttitle="FSRS (Fast and Slow Kurtosis)") BuyZone = input(0) hline(BuyZone, color=green, linestyle=line) xMOM_R = mom(mom(close, 3), 1) xMOM_RAvr = ema(xMOM_R, 65) xMOM_RWAvr = wma(xMOM_RAvr, 6) xRSI = rsi(close, 9) xVal5 = 10000 * xMOM_RWAvr + xRSI xVal6 = wma(xVal5, 6) plot(xVal5, color=blue, title="BZ") plot(xVal6, color=red, title="FSRS")