Bollinger bands Normalized RSI
June 17, 2019, 10:51 AM
Indicators
2 Comments
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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