RSI candles smoothed with Keltner channel

This indicator displays the RSI oscillator, with an option to smoothed it or not, in candlesticks form. Keltner bands are added to the oscillator to act as trend filtering and to detect high/low volatility phases of the market.

//PRC_RSI candles w KeltnerChan | indicator
//08.11.2018
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge

// --- settings 
RSIp = 14 //RSI period
SmoothPeriod = 3 //Smoothing period (0=no smoothing)
SmoothType = 1 //Moving average type for smoothing 
lengthKC = 14 //Keltner bands Period
multKC = 1.5 //Keltner bands multiplier
// --- end of settings 

SmoothPeriod=max(SmoothPeriod,1)
rsiH = average[SmoothPeriod,SmoothType](rsi[RSIp](high))
rsiL = average[SmoothPeriod,SmoothType](rsi[RSIp](low))
rsiO = average[SmoothPeriod,SmoothType](rsi[RSIp](open))
rsiC = average[SmoothPeriod,SmoothType](rsi[RSIp](close))
drawcandle(rsiO,rsiH,rsiL,rsiC)

price = (rsiH+rsiL+rsiC)/3
iRange = abs(rsiH-rsiL)
MA = Average[lengthKC](price)
UpperBand = MA + Average[lengthKC](iRange)*multKC
LowerBand = MA - Average[lengthKC](iRange)*multKC

return UpperBand coloured(168,168,168) style(dottedline,1) as "UpperBand",LowerBand coloured(168,168,168) style(dottedline,1) as "LowerBand",MA coloured(168,168,168) style(dottedline,1) as "Center"

//PRC_RSI candles w KeltnerChan | indicator

//08.11.2018

//Nicolas @ www.prorealcode.com

//Sharing ProRealTime knowledge

// --- settings

RSIp = 14 //RSI period

SmoothPeriod = 3 //Smoothing period (0=no smoothing)

SmoothType = 1 //Moving average type for smoothing

lengthKC = 14 //Keltner bands Period

multKC = 1.5 //Keltner bands multiplier

// --- end of settings

SmoothPeriod=max(SmoothPeriod,1)

rsiH = average[SmoothPeriod,SmoothType](rsi[RSIp](high))

rsiL = average[SmoothPeriod,SmoothType](rsi[RSIp](low))

rsiO = average[SmoothPeriod,SmoothType](rsi[RSIp](open))

rsiC = average[SmoothPeriod,SmoothType](rsi[RSIp](close))

drawcandle(rsiO,rsiH,rsiL,rsiC)

price = (rsiH+rsiL+rsiC)/3

iRange = abs(rsiH-rsiL)

MA = Average[lengthKC](price)

UpperBand = MA + Average[lengthKC](iRange)*multKC

LowerBand = MA - Average[lengthKC](iRange)*multKC

return UpperBand coloured(168,168,168) style(dottedline,1) as "UpperBand",LowerBand coloured(168,168,168) style(dottedline,1) as "LowerBand",MA coloured(168,168,168) style(dottedline,1) as "Center"

keltner RSI

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments :

Filename : download the ITF files

How to import ITF files into ProRealTime platform?

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myhlo • 11/08/2018 #
Super Nicolas !! Cet indicateur offre une nouvelle lecture du Rsi ! Ces bandes up & Dawn sont vraiment intéressantes. Un Rsi qui se retrouve libre de ses mouvement mis souvent les cours explosent. En tout sur le Dax en 1min cela donne des bons signaux. Merci !
- okiki • 11/08/2018 #
  please how can i acess the indicator i like it and want it please
  am new here
- Nicolas • 11/08/2018 #
  download the itf file above and import it into your prorealtime platform: https://www.prorealcode.com/import-export-prorealtime-code-platform/

styrke Hello Nicolas, Nice screener, I appreciate the way you always try to condense at maximum th...

Nicolas There's no particular reason. RSI is widely use with its default period and results seems re...

MaoRai54 Hi, first of all Happy New Year. Well, I've inserted your indicator in DAX 1h but I cann...

Vinks_o_7 Hi Mao Happy New Year ! This is just an improved RSI where you plot a standard price momen...

Angel Perez Ciao Francesco. First of all thanks for the indicator and also fro the screener. I do have a...

PSIDIO Ciao to you all, I also have a question and would be very happy for a helpful comment. I a...

SpreadBetMH Hi there, I have V11.1. I get the Indicator but no Arrows on the price. Kind Regards...

Alai-n Ciao Francesco, sei ancora in giro?

Metodi97 This indicator is great but can someone create strategy based on the same indicator it will ...

Nicolas Tutte le impostazioni che hanno la parola "period" sono quelle dedicate ai periodi di cambio...

GianfrancoCeck Le chiedo una ultima cosa, ossia se è possibile personalizzare l'indicatore con una scritta ...

Nicolas Spiacente che non sia possibile, le coordinate grafiche non sono in pixel ma nel prezzo e ne...

Marc Boliart dear nicolas, tyvm for your indicators and strategies, i have this following error when i ch...

Nicolas Your picture is too small, but for sure the problem is about the fact you are still using v1...

Rory Dryden Thanks. This looks useful.

swapping Oups nicolas ! je pense que tu a oublié de mettre les variables "setting" accessible en exte...

Nicolas Je viens de vérifier, elles y sont pourtant?

swapping Mea culpa, j'ai fait un bête (copier/coller) et forcément cela ne pouvait pas y être puisqu'...

Mirko Vaglio Interesting idea to bypass the limit of PRT about multiple timeframe, and I am just trying t...

Mirko Vaglio Looking a little bit more, now I understand what had to be absolutely obvious from the first...

Seb nice code! I'm trying to use your method to do a higher timeframe EMA, without success yet. ...

Francesco78 @snucke the results are not the same because the pictures refers to a few years ago. I am no...

snucke @Francesco78 i mean the results differ when i test on my own. so im curious of what the p...

sfl still working, using with filters like : trendFilterUp=close>average[190](close) tren...

rejo007 hello david, i'll try it could you tell me wich strategy do you use in real? thanks

David Somogyi Hello, I have a couple of DAX strategies of breakout and mean reversion. I'll try to post...

Roberto Blázquez Hi David, I just saw your strategy and it's good!!! I'm going to try it from today in real a...

juanj To follow new developments or get the latest version of this strategy please visit the forum...

tahar Hello Juan, I wanted to test Universal Strategy via a demo account on PRT but nothing happen...

BravoDelta @juanj wondering if you may help me please. I am looking for a simply strategy to use on the...

Wilko I am not familiar with the screener function, but I am quite certain it should be quite simp...

Gubben @Wilko have you had a look at this again since MTF support? Heard you talk on Börssnack btw..

Wilko @Gubben not really. It was something I posted to show that simpler is usually better. Hope y...

Lotech123 Thanks for this indicator. Working on a 3 M timeframe with the DJI, it can produce some inte...

JSTAR PRODUCTIONS Hi there, I downloaded the Indicator but the indicator does not show up on my charts. Am...

JSTAR PRODUCTIONS Hi, Worked it out. Thanks

GraHal Yes sorry, I set up a link to a screen shot on my google drive and then I got locked into th...

gabri Here's the thread https://www.prorealcode.com/topic/multiframe-rsi-of-rsi/

Bernard13 Bonjour Nicolas, Pourriez-vous m'indiquer si cet indicateur fonctionne avec la V11 ? Le di...

nwesterhuijs Thanks, only saw it just now.

juanj For the latest version and discussions see the Ichimoku thread here: https://www.prorealcod...

Louwrens Hi Juanj. Thanks for this. I am tying it as we speak. It does not trade that often, which is...

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