TradeNavigator RSI indicator is calculated according to 2 different options:
Either a smoothing of the RSI with a TEMA moving average type or the average of the sum of 4 moving averages of different periods and types, of which one remains a TEMA.
It is possible to use the periods of the past with “shift”, this allows to give more weight to some moving averages to avoid the phenomena of divergence of signals.
Each moving average is configurable in the options for periods, types and “shift”.
This indicator has been converted from an MT4 version, following a request on the Italian forum.
//PRC_TradeNavigatorRSI | indicator
//18.12.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//Converted from MT4 indicator
// --- settings
//singleRSI = 0 //boolean value 0=false, 1=true
//periodRSI = 14
//periodTMArsi = 4
//typeMA1 = 0 //MA type selection
//periodMA1 = 4
//shiftMA1 = 0
//typeMA2 = 0 //MA type selection
//periodMA2 = 5
//shiftMA2 = 0
//typeMA3 = 0 //MA type selection
//periodMA3 = 13
//shiftMA3 = 2
// --- end of settings
indi = RSI[periodRSI](customclose)
TEMArsi = TEMA[periodTMArsi](indi)
MA1 = average[periodMA1,typeMA1](indi)[shiftMA1]
MA2 = average[periodMA2,typeMA2](indi)[shiftMA2]
MA3 = average[periodMA3,typeMA3](indi)[shiftMA3]
if singleRSI then
final = TEMArsi
else
final = (TEMArsi+MA1+MA2+MA3)/4
endif
return final as "TradeNavigator RSI",30,40,60,70