Sell Relative Strength Index (SRSI or “sell gravitation index”) by Howard Wand as featured in the February 2019 issue of TASC magazine.
“Traders accumulate profits trade by trade, with the goal of maximizing profits. But selloffs happen and when they do, you see significant price drops that are fast. Here’s an indicator that uses the profit accumulation size to estimate subsequent selloff size.
Green lines represent buy, red represents sell and yellow represents a balance between buy and sell signals on the SRSI.”
Period of calculation can be adjusted with the “Length” setting.
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//PRC_Sell RSI | indicator //Sell Relative Strength Index //Sell gravitation index (Howard Wang) //04.02.2019 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge // --- settings Length=20 // --- end of settings srsin = 0 for k = 0 to Length-1 do value1 = (close[k]-open[k]) value2 = (high[k]-low[k]) if value2=0 then value3=0 else value3=value1/value2 endif srsin = srsin+value3 next srsi = srsin/length if srsi>0 then r=0 g=255 elsif srsi<0 then r=255 g=0 endif if srsi>=-0.05 and srsi<=0.05 then r=255 g=255 endif return srsi coloured(r,g,0) style(line,2) as "SELL RSI", 0 coloured(255,255,0) as "level 0", -0.05 coloured(168,168,168) style(dottedline,1) as "level -0.05", 0.05 coloured(168,168,168) style(dottedline,1) as "level 0.05" |
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merci bien et félicitations pour la réactivité avec laquelle il a été mis dans la bibliothèque par rapport à la date de parution dans la revue
Great indicator Nicolas, thanks!