RSI Turbo
December 29, 2017, 2:24 PM
Indicators
2 Comments
The RSI is a well-known indicator but the idea was to plot a classic price momentum together with an improved OBV momentum (RSI Price & RSI OBV).
The good thing is that we can now see divergence between price momentum & OBV momentum, on top of all the usual stuffs (OB, OS, divergence RSI Vs Price, neutral zone…). I use it on stock charts, on all timeframes bigger than 15/30 minutes.
OBV code by Vitali Apirine.
n=12
//MULTI-VOTE OBV
// Appeared in June 93 issue of Stocks & Commodities magazine.
//if (OpenTime >090000) and (OpenTime < 173001) then
if high > high[1] then
c1=1
elsif high = high[1] then
c1= 0
else
c1=-1
endif
if close > close[1] then
c2 = 1
elsif close = close[1] then
c3= 0
else
c2=-1
endif
if low > low[1] then
c3 = 1
elsif low = low[1] then
c3= 0
else
c3=-1
endif
b1 = cumsum(((c1+c2+c3)/3)*volume)
b3 = RSI[n](b1)
b4 = RSI[n](close)
Histo= b3-b4
return b3 as "RSI OBV",b4 as "RSI",Histo as "Histo Vol-Prix"
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Filename:
RSI-Turbo.itf
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