OPEN-SOURCE SCRIPT
Aktualisiert Laguerre RSI Pro - MTF, Compare Tickers, Fractal Energy, Alerts
My indicators can be found here: http://tinyurl.com/2s45cu6a
Laguerre RSI Pro - MTF, Compare Tickers, Fractal Energy Self-Adjusting Gamma, Custom Alerts
Updated: Version 1.03.3 12/14/2023.
This indicator displays Laguerre RSI columns or lines with coloration based on LRSI level and direction.
• Multi-timeframe display options.
• Compare with 2nd ticker
• Fractal Energy / CHOP optional for self-adjusting gamma
• Color Logic
• Highlight extreme LRSI levels with Dots
• Arrows to signal LRSI level crosses
• Custom Alerts
█ ABOUT
This indicator displays John F. Ehler’s Laguerre RSI (LRSI) in columns or lines with coloration based on LRSI level and direction. Features include 3 multi-timeframe plots, secondary ticker plot for comparison (also works with 3 multi-timeframe plots), optional self-adjusting gamma using Fractal Energy (CHOP), color logic based on value and direction of LRSI, dots to highlight extreme LRSI levels, arrows to signal LRSI level crosses, and multiple custom alerts. See links below in the “Resources” section to learn more about how to apply Laguerre RSI in your trading plan.
█ INTERPRETING LRSI
LRSI is bullish when crossing above .2. A bullish trend is confirmed when LRSI crosses above .8. A cross back below .8 is a bearish signal and you should be ready to exit long positions. In columns mode the column turns light green when LRSI is rising and above .2. The column will turn dark green when LRSI is above .8.
LRSI is bearish when crossing below .8. A bearish trend is confirmed when LRSI crosses below .2. A cross back above .2 is a bullish signal and you should be ready to exit short positions. In columns mode the column turns pink when LRSI is falling and below .8. The column turns red when LRSI is below .2.
LRSI values that are horizontal at 0 or 1 show the trend is strong with continuation. In columns mode “Dots” are shown by default when LRSI is at these extreme values.
See links below in the “Resources” section to learn more about how to apply Laguerre RSI in your trading plan.
█ WHAT IS FRACTAL ENERGY/CHOP?
The CHOP used as Gamma for LRSI concept originated in 2016 as an indicator created by “Mobius” and titled “RSI Laguerre Self Adjusting with Fractal Energy”. FE/CHOP replaces the gamma level input in settings with the value of the Choppiness Index (CHOP). The term Fractal Energy is used in this indicator to prevent confusion for those already familiar with this concept. See links below in the “Resources” section to learn more about Fractal Energy levels.
█ USER INPUTS
Settings:
Display Mode
• Select between Columns (default) and Lines mode.
Timeframe 1
• Select the timeframe used for this indicator.
Gamma
• Choose gamma level for LRSI calculation. Default is .5. Lower will result in faster, choppier output. Higher will slow down the moves/swings. An auto adjusting gamma level can be obtained by selecting “Use Fractal Energy as Gamma level” in the Fractal Energy section of settings.
Show Timeframe Label
• Displays a label to the right of the indicator showing timeframes used.
LRSI Value
• Displays a label to the right of the indicator showing the LRSI value.
Label Offset
• Adjusts positioning of the timeframe labels. A higher number will move the timeframe labels further to the right.
Levels Upper/Lower
• Used in calculations and display for the upper and lower extremes for LRSI level.
Multi Timeframe (MTF):
Show Timeframe 2-3
• Displays Timeframes 2 and/or 3 columns in addition to Timeframe 1.
Gamma TF 2-3
• Option to use different Gamma value for each timeframe.
Color Logic:
LRSI >= and <= Level, Rising and Falling LRSI
• Colors for columns and lines. Rising and Falling colors only used in Columns Mode.
Columns Mode:
Show Dots if LRSI <.01 and >.99
• Displays a dot in the center of the column box if LRSI is at minimum or maximum values.
Lines Mode:
Show Timeframe Line 1, 2, 3
• Displays the LRSI value in lines mode for each timeframe selected.
Change color for lines
• Changes lines to green/red if LRSI rising/falling.
Show background
• Displays zones. Green zone is strong uptrend. Red zone is strong downtrend.
Invert Background colors
• Inverts the background color position.
Display Upper/Lower Cross Signal
• Displays an arrow when LRSI crosses upper or lower levels. When used with other indicators this could be used as an entry signal. Choose which strategy is desired. Aggressive strategy is “Above Lower Level, Below Upper Level). Trend confirmation strategy is “Above Upper Level, Below Lower Level”.
Compare with Ticker:
• Displays an additional column or line for each timeframe shown on selected ticker. Default is SPY.
Alerts Calculation:
• Controls how Alerts are calculated.
Choose which strategy is desired.
• Aggressive: “Above Lower Level, Below Upper Level).
• Trend Confirmation: “Above Upper Level, Below Lower Level”.
Fractal Energy (CHOP):
Use Fractal Energy as Gamma level.
• Uses the FE level for that timeframe as the gamma level for LRSI calculation.
FE Length
• Sets the length in bars for FE calculation. Default is 13. Lower length can be used intraday.
Show TF1 FE Line
• Displays the TF1 FE value as a line.
• *FE/CHOP is like the fuel gauge on a car. Levels .55-.618 and above - Full tank/energy, Price compression or squeeze, ready for a move. Levels .25-.382 and below - Trend running out of gas/slowing down.
Show FE Zone
• Displays a colored zone for FE.
█ RESOURCES
How to Use Laguerre RSI or LRSI by OneOption on Youtube -https://youtu.be/vDn37rK5C0s
Revolutionary Indicators Reveal Tops & Bottoms on Youtube - https://youtu.be/XO2kpod3H14?t=697
RSI in Laguerre Time Self Adjusting With Fractal Energy Usage Notes - https://usethinkscript.com/threads/rsi-in-laguerre-time-self-adjusting-with-fractal-energy-usage-notes.219
"Time Warp - Without Space Travel" – John F. Ehlers - https://www.mesasoftware.com/papers/TimeWarp.pdf
█ SPECIAL THANKS
/u/IreliaONLYLOL - brainstorming and testing
█ NOTES
Indicator created by Jmu1 (TradingView) / Jmu#8784 (Discord).
From the author
I am open to feedback/ideas for this script especially ideas for alert conditions!
Laguerre RSI Pro - MTF, Compare Tickers, Fractal Energy Self-Adjusting Gamma, Custom Alerts
Updated: Version 1.03.3 12/14/2023.
This indicator displays Laguerre RSI columns or lines with coloration based on LRSI level and direction.
• Multi-timeframe display options.
• Compare with 2nd ticker
• Fractal Energy / CHOP optional for self-adjusting gamma
• Color Logic
• Highlight extreme LRSI levels with Dots
• Arrows to signal LRSI level crosses
• Custom Alerts
█ ABOUT
This indicator displays John F. Ehler’s Laguerre RSI (LRSI) in columns or lines with coloration based on LRSI level and direction. Features include 3 multi-timeframe plots, secondary ticker plot for comparison (also works with 3 multi-timeframe plots), optional self-adjusting gamma using Fractal Energy (CHOP), color logic based on value and direction of LRSI, dots to highlight extreme LRSI levels, arrows to signal LRSI level crosses, and multiple custom alerts. See links below in the “Resources” section to learn more about how to apply Laguerre RSI in your trading plan.
█ INTERPRETING LRSI
LRSI is bullish when crossing above .2. A bullish trend is confirmed when LRSI crosses above .8. A cross back below .8 is a bearish signal and you should be ready to exit long positions. In columns mode the column turns light green when LRSI is rising and above .2. The column will turn dark green when LRSI is above .8.
LRSI is bearish when crossing below .8. A bearish trend is confirmed when LRSI crosses below .2. A cross back above .2 is a bullish signal and you should be ready to exit short positions. In columns mode the column turns pink when LRSI is falling and below .8. The column turns red when LRSI is below .2.
LRSI values that are horizontal at 0 or 1 show the trend is strong with continuation. In columns mode “Dots” are shown by default when LRSI is at these extreme values.
See links below in the “Resources” section to learn more about how to apply Laguerre RSI in your trading plan.
█ WHAT IS FRACTAL ENERGY/CHOP?
The CHOP used as Gamma for LRSI concept originated in 2016 as an indicator created by “Mobius” and titled “RSI Laguerre Self Adjusting with Fractal Energy”. FE/CHOP replaces the gamma level input in settings with the value of the Choppiness Index (CHOP). The term Fractal Energy is used in this indicator to prevent confusion for those already familiar with this concept. See links below in the “Resources” section to learn more about Fractal Energy levels.
█ USER INPUTS
Settings:
Display Mode
• Select between Columns (default) and Lines mode.
Timeframe 1
• Select the timeframe used for this indicator.
Gamma
• Choose gamma level for LRSI calculation. Default is .5. Lower will result in faster, choppier output. Higher will slow down the moves/swings. An auto adjusting gamma level can be obtained by selecting “Use Fractal Energy as Gamma level” in the Fractal Energy section of settings.
Show Timeframe Label
• Displays a label to the right of the indicator showing timeframes used.
LRSI Value
• Displays a label to the right of the indicator showing the LRSI value.
Label Offset
• Adjusts positioning of the timeframe labels. A higher number will move the timeframe labels further to the right.
Levels Upper/Lower
• Used in calculations and display for the upper and lower extremes for LRSI level.
Multi Timeframe (MTF):
Show Timeframe 2-3
• Displays Timeframes 2 and/or 3 columns in addition to Timeframe 1.
Gamma TF 2-3
• Option to use different Gamma value for each timeframe.
Color Logic:
LRSI >= and <= Level, Rising and Falling LRSI
• Colors for columns and lines. Rising and Falling colors only used in Columns Mode.
Columns Mode:
Show Dots if LRSI <.01 and >.99
• Displays a dot in the center of the column box if LRSI is at minimum or maximum values.
Lines Mode:
Show Timeframe Line 1, 2, 3
• Displays the LRSI value in lines mode for each timeframe selected.
Change color for lines
• Changes lines to green/red if LRSI rising/falling.
Show background
• Displays zones. Green zone is strong uptrend. Red zone is strong downtrend.
Invert Background colors
• Inverts the background color position.
Display Upper/Lower Cross Signal
• Displays an arrow when LRSI crosses upper or lower levels. When used with other indicators this could be used as an entry signal. Choose which strategy is desired. Aggressive strategy is “Above Lower Level, Below Upper Level). Trend confirmation strategy is “Above Upper Level, Below Lower Level”.
Compare with Ticker:
• Displays an additional column or line for each timeframe shown on selected ticker. Default is SPY.
Alerts Calculation:
• Controls how Alerts are calculated.
Choose which strategy is desired.
• Aggressive: “Above Lower Level, Below Upper Level).
• Trend Confirmation: “Above Upper Level, Below Lower Level”.
Fractal Energy (CHOP):
Use Fractal Energy as Gamma level.
• Uses the FE level for that timeframe as the gamma level for LRSI calculation.
FE Length
• Sets the length in bars for FE calculation. Default is 13. Lower length can be used intraday.
Show TF1 FE Line
• Displays the TF1 FE value as a line.
• *FE/CHOP is like the fuel gauge on a car. Levels .55-.618 and above - Full tank/energy, Price compression or squeeze, ready for a move. Levels .25-.382 and below - Trend running out of gas/slowing down.
Show FE Zone
• Displays a colored zone for FE.
█ RESOURCES
How to Use Laguerre RSI or LRSI by OneOption on Youtube -https://youtu.be/vDn37rK5C0s
Revolutionary Indicators Reveal Tops & Bottoms on Youtube - https://youtu.be/XO2kpod3H14?t=697
RSI in Laguerre Time Self Adjusting With Fractal Energy Usage Notes - https://usethinkscript.com/threads/rsi-in-laguerre-time-self-adjusting-with-fractal-energy-usage-notes.219
"Time Warp - Without Space Travel" – John F. Ehlers - https://www.mesasoftware.com/papers/TimeWarp.pdf
█ SPECIAL THANKS
/u/IreliaONLYLOL - brainstorming and testing
█ NOTES
Indicator created by Jmu1 (TradingView) / Jmu#8784 (Discord).
From the author
I am open to feedback/ideas for this script especially ideas for alert conditions!
Versionshinweise
Updated license text for release.Versionshinweise
Added a warning if the chart's timeframe is higher than any of the timeframes chosen in the indicator's settings. Using a chart with a higher timeframe than the timeframes chosen in the indicator settings will not produce reliable output.See more on this page. https://www.tradingview.com/pine-script-docs/en/v5/concepts/Other_timeframes_and_data.html#pageothertimeframesanddata-requestingdatafromalowertimeframe
To update your script you must remove and reapply the indicator. To prevent losing your settings, consider saving your default settings in the lower lefthand corner of the indicator setting's screen.
Versionshinweise
Added More Alerts.Very Small Fixes.
Versionshinweise
Companion indicator LRSI Tickers released. Check it out.https://www.tradingview.com/script/T0JA2H1u-LRSI-Tickers-Compare-Tickers-Sectors-Fractal-Energy/
Versionshinweise
Found bug in "Compare with Ticker" feature using Extended Trading Hours. Until a fix is found I've added a warning requiring Regular Trading Hours (RTH) to be used on chart when using the "Compare with Ticker" feature.Versionshinweise
UPDATE: If you applied the previous update you MUST apply this update. Error table did not display correctly.To apply updates you must remove indicator and reapply.
Versionshinweise
Updated 10/31/23 - v.1.03Added: Ability to change gamma value for each timeframe.
Added: LRSI Value option to labels
Changed: Streamlined MTF settings
To enable this update remove LRSI indicator from your charts and restart TradingView. Add Laguerre RSI Pro back to your charts (found in Favorite Indicators). Version 1.03 will be displayed at the bottom of this indicator's settings.
Versionshinweise
Changed: Input arguments in Status Line now hidden.Versionshinweise
Updated 11/10/23 - v.1.03.2Fixed: LRSI Value labels now update on new bars.
To enable this update remove LRSI indicator from your charts and restart TradingView. Add Laguerre RSI Pro back to your charts (found in Favorite Indicators). Version 1.03.2 will be displayed at the bottom of this indicator's settings.
Versionshinweise
Added:Option to "Hide Warning Box"
Versionshinweise
Small label update.Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.