RSI Supertrend

This is an onchart version of the RSI, that acts like a supertrend above and below price.

Upper and lower limit are set to 90 and 10.

It can be used as signal for entries and/or for stop loss.

//###################################################
//   RSI as SuperTrend
//   coded by AlexF          
//###################################################

rsiperiod=14
rsihiband=90
rsiloband=10

//RSI calculation
ep=(2*rsiperiod)-1
auc=ExponentialAverage[ep](abs(MAX(close-close[1],0)))
adc=ExponentialAverage[ep](abs(MAX(close[1]-close,0)))
x1=(rsiperiod-1)*(adc*rsihiband/(100-rsihiband)-auc)
x2 = (rsiperiod - 1) * ( adc * rsiLoBand / (100-rsiLoBand) - auc)
if x1>=0 then
 ub=close+x1
else
 ub=close+x1*(100-rsihiband)/rsihiband
endif
if x2>=0 then
 lb=close+x2
else
 lb=close+x2*(100-rsiloband)/rsiloband
endif
z=(ub+lb)/2



return z

//###################################################

// RSI as SuperTrend

// coded by AlexF

//###################################################

rsiperiod=14

rsihiband=90

rsiloband=10

//RSI calculation

ep=(2*rsiperiod)-1

auc=ExponentialAverage[ep](abs(MAX(close-close[1],0)))

adc=ExponentialAverage[ep](abs(MAX(close[1]-close,0)))

x1=(rsiperiod-1)*(adc*rsihiband/(100-rsihiband)-auc)

x2 = (rsiperiod - 1) * ( adc * rsiLoBand / (100-rsiLoBand) - auc)

if x1>=0 then

ub=close+x1

else

ub=close+x1*(100-rsihiband)/rsihiband

endif

if x2>=0 then

lb=close+x2

else

lb=close+x2*(100-rsiloband)/rsiloband

endif

z=(ub+lb)/2

return z

RSI supertrend

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.

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rpreviteri Hi Nicolas, thanks a loto for sharing your knowliedge, Wasn't the original momentum pinball...

air Thank you!

elanoa Buonasera sig. Nicolas......sarebbe possibile far in modo che quando l'indicatore raggiunga ...

MikeGC I don't know if you have used the variables a and b to optimise the parameters for the Super...

gianpiero75 I have not optimized, I multiplied the parameters for 6 (5,8), to use them on the 4 hoursTF...

bertrandpinoy bonjour Mike j utilise TrendChaser V2.0 et quand il prend position cela ne programme pas le ...

zilliq The reasons why I think it's time consuming and we loose time to try to do backests and Auto...

filiprb Hello Zilliq, You don't need a system to produce a walk forward test. You can easily create...

Philip Raphael It is incredible! Thanks for sharing, Doctrading!

eisi If i switch between different Markets, the Backgroundcolour will appear where it should not...

datageek How can I get alerts on colour change?

NAMBO40 Hello, I would like to add a 25 period SMA moving average. It's possible?

s00071609 Hi, could you please suggest, what this codes gives, lowest[b](rsi[a]) -- just trying to us...

Nicolas lowest[b](rsi[a]) returns the lowest values of the RSI of "a" periods, over the last "b" per...

s00071609 Hi, what would be the code to get the price for last bullish DTOSC cross over. I am looking ...

Anonymous We try to enter before that the market actually turn. We try to anticipate it. In which way ...

dwgfx David-1984 are you saying that you've already factored in the spread within the code? If y...

Anonymous no, not in teh code... only in the backtest. The entry is only between 8/22 so the spread fo...

gianlox What markets did you feel ? Thanks..

wanjpt Doctrading, could you code an alert when the supertrend touches price for various timeframes...

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Nicolas Exit and relaunch PRT should fix this behavior.

verdi55 Thank you. After a restart, it is somewhat faster; however, it still takes about 3 minutes t...

Nicolas Good! thanks for sharing your own code! Please do so with other ones if you think you can im...

Nicolas RSI is an oscillator made for price centering. This strategy bet on mean reverting phenomena...

air Good start. Works decently during stock runaway bull market. I have tested it over 80 year p...

TheHovisTrader Hi - the way Larry trades it does not work - discovered that over 10 years ago! BUT If you ...

Investment Account Wow great thanks ... looks good! Do I set the colour shades up from within the indicator 's...

Anonymous Thanks for your comments and yes, that is exactly how I set up the colour levels.

Vish Thanks I have added this in my watch list. Has anyone tried it yet ? Does it work on currenc...

Nicolas Aucune immobilisation du capital. Quel est le drawdown du buy & hold ? Je ne l'ai pas ca...

jctrader ok pour le codage mais le choix "indice" n'est pas le bon : moins de 5%/an pour le meilleur ...

Thomas Hi Nicloas nice one i do understand :D im trying to put in MA200 as a criteria so it only go...

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