Auf geht's

Overbought-oversold

Self-Adjusting RSI +Here is an open source (no request needed!) version of the Self-Adjusting RSI by David Sepiashvili. Published in Stocks & Commodities V. 24:2 (February, 2006): The Self-Adjusting RSI David Sepiashvili's article, "The Self-Adjusting RSI," presents a technique to adjust the traditional RSI overbought and oversold thresholds so as to ensure that 70-80% of RSI values lie between the two thresholds. Sepiashvili presents two algorithms for adjusting the thresholds. One is based on standard deviation, the other on a simple moving average of the RSI. This script allows you to choose between plotting the Self-Adjusting bands or the traditional bands. You can also plot a smoothed RSI (SMA or EMA) and change the theme color for dark or light charts. If you find this code useful, please pass it forward by sharing open source! Thank you to all of the open source heroes out there! "If I have seen a little further it is by standing on the shoulders of Giants."
Pine Script™ Indikator
von AltJams
10
Spiky Iguana Multi RSI Bands (Reverse RSI for the Price) by RRBSpiky Iguana Multi RSI Bands by RagingRocketBull 2018 Version 1.0 This indicator shows multiple RSI Bands with prices corresponding to specified overbought/oversold RSI levels. It is used to extrapolate the exact price levels currently matching a given set of RSI levels based on prior price/RSI levels action. You can think of it as a reverse RSI where RSI levels are moving dynamically around the price instead of price bouncing between straight lines. Features: - 6+6 = 12 customizable Overbought(R)/Oversold(S) RSI Levels + 6 Mean(M) lines - Multicolor levels/fill ranges - Show/Hide specific S/R/M levels and fill ranges 1. uses plot*, fill and is based on RSIBANDS_LB Good Luck! Feel free to explore and learn from the code
Pine Script™ Indikator
von RagingRocketBull
9
Ichimoku Fibonacci HybridHey guys, this is a variation of Ichimoku using Fibonacci principles. Overview As you may know, Ichimoku uses in its calculations (high + low)/2 to calculate Tenkan-sen (Conversion line) and Kijun-sen (Base line) for different periods: Tenkan is a shorter period, so it reacts faster to reversals, while Kijun is slower, so it reacts slower, and it is contextually more reliable due to how conservative it is. Why does the Ichimoku Cloud works? My theory that inspired this indicator is that it works because it looks at 50% retracements from highest point to the lowest point. In other words, Tenkan plots the 50% line between the peak and the trough from the recent period, which has proven to often be a good estimation for retracements. Similarly, Kijun applies the same, but for a longer period*. However, if we look at Fibonacci retracement, it is often the case that price retracts to those magical percentages: 23.6%, 38.2%, 50%, 61.8%, and sometimes even 88.6% and 78.6%. Why this happens is largely unknown to the academic community, but, empirically, it often seems that these numbers just work. Therefore, I wanted to apply this principle to Ichimoku calculations, and instead of calculating (high + low)/2, I calculated both (high + low) * 0.382 and (high + low) * 0.618. These lines should provide pessimistic/bearish estimations, and optimistic/bullish estimations, respectively. Naturally, these results in 4 extra lines: a bearish Tenkan/Kijun pair and a bullish Tenkan/Kijun pair. Therefore, applying this indicator will crowd the chart quite a bit: you have 6 lines on the chart among which 2 of them are the original Tenkan and Kijun lines, and the other 4 are Fib-inspired Tenkan/Kijun lines. Usage As with most indicators, usage is subjective to the user and relative to the chart. However, some ways in which this indicator can be used are as follows: In a strong uptrend, price is typically above both Ichi Kijun and Tenkan. In this case, you can use this indicator to provide you with a new pair of bullish Kijun/Tenkan that provide the same usage as before. Similarly, in a downtrend, the bearish Kijun/Tenkan apply. Using the new lines, one can apply R/S levels, crossover signals, overbought/oversold areas, price channels, retracement levels, and trend indications. One may simply use it out of convenience, as it automatically computes potential areas of interest without having to perform manual work. Please note that because the indicator was so full, I did not keep the Cloud, nor did I keep the Chikou span (Lagging span.) These can be easily implemented, but it would crowd the chart to an extent that it would be difficult to gauge much information. However, I did consider adding them as optional indicators that are disabled by default, and I may potentially do so in the future. For reference, this would help by simply disabling everything else besides the "bullish Ichi" in an uptrend. Footnotes * I have heard people referring to Ichimoku Cloud as "a glorified average mean," but, mathematically, I don't believe there is much relationship between MAs and Ichimoku Cloud. However, I acknowledge the visual similarity between the two and the potential to use both in a similar fashion, so one may interpret this indicator as such if they please.
Pine Script™ Indikator
von lostkauze
5
Relative Volatility IndexCorrected Relative Volatility Index. This indicator was originally developed by Donald Dorsey (Stocks & Commodities V.11:6 (253-256): The Relative Volatility Index). The indicator was revised by Dorsey in 1995 (Stocks & Commodities V.13:09 (388-391): Refining the Relative Volatility Index). I suggest the refined RVI with optional settings. If you disabled Wilder's Smoothing and Refined RVI you will get the original version of RVI (1993, as built-in). Also, you can choose an algorithm for calculating Standard Deviation.
Pine Script™ Indikator
von everget
10