Stochastic / RSI (Wilder's [RMA] or Arnaud Legoux [ALMA])

3. Aug. 2020

This script displays the Stochastic and Relative Strength Index ("RSI") indicators. Each indicator can be displayed standalone or shown together. The Stochastic indicator also has functionality to highlight overbought/oversold levels as well as relative placement of K and D. The RSI indicator can also be updated to utilize the Arnaud Legoux Moving Average ("ALMA") (vs. the standard Wilder's Moving Average).

I use based on default settings. ALMA RSI can help indicate extent of drop/rise from Stochastic overbought/oversold levels.

Recognition due to kurtsmock for the work on validating the ALMA calculation (pinescript built-in function has slight deviation from original design) ---> LINK (tradingview.com/script/rqxaTb6E-ALMA-Function-FN-Arnaud-Legoux-Moving-Average/).

5. Aug. 2020

Versionshinweise

- Fixed 'Show RSI?' option to correctly hide RSI if toggled off
- Edited default transparency on Stochastics to 80 (from 90)

5. Aug. 2020

Versionshinweise

- Reordered Order of Options

28. Feb. 2023

Versionshinweise

-Upgraded code to Pine v5
-Cleaned up code and simplified 'inputs' coding
-Adding Standard RSI Len 9, 45-55 'chop zone' coloring that will display whether Standard or ALMA RSI is utilized (meant to indicate when price is choppy)