Bollinger bands Normalized RSI

Category: Indicators By: Rafa Created: June 17, 2019, 10:51 AM
June 17, 2019, 10:51 AM
Indicators
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This Indicator has been taken from the book Bollinger on Bollinger Bands.

The fundamental idea is to have a direct relationship with volatility.

The RSI is normalized around a mean calculated with 2 times standard deviation.

//**********************************************************************************
//*
//*      Se normaliza el RSI dado un numero: Por defecto es igual que el RSI
//*      Autor: Rafa Barreto
//*
//**********************************************************************************

ValorRSI=14

MiRSI = RSI[ValorRSI](Close)

Bollinger2UpRSI  = ExponentialAverage[ValorEMA](MiRSI) + (2 * STD[ValorEMA](MiRSI))
Bollinger2DnRSI  = ExponentialAverage[ValorEMA](MiRSI) - (2 * STD[ValorEMA](MiRSI))

RSINormalizado   = (MiRSI - Bollinger2DnRSI) / (Bollinger2UpRSI - Bollinger2DnRSI)

Return RSINormalizado

 

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Filename: NormalizedRSI-1.itf
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Rafa Senior
Developer by day, aspiring writer by night. Still compiling my bio... Error 404: presentation not found.
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