This is an implementation of John Ehlers’ Smoothed RSI, as described in RSI Smoothing.
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// Smoothed Relative Strength Index (SRSI) // RSI Smoothing // John F. Ehlers // http://www.stockspotter.com/Files/rsismoothing.pdf // Parameter Len = 14 Smooth23 = (Close + 2*Close[1] + 2*Close[2] + Close[3])/6 CU23 = 0 CD23 = 0 For count = 0 to Len - 1 do If Smooth23[count] > Smooth23[count + 1] then CU23 = CU23 + Smooth23[count] - Smooth23[count + 1] Endif If Smooth23[count] < Smooth23[count + 1] then CD23 = CD23 + Smooth23[count + 1] - Smooth23[count] Endif Next If CU23 + CD23 <> 0 then SRSI = CU23/(CU23 + CD23) Endif return SRSI*100 as "SRSI" |
The attached screenshot shows J. Welles Wilder’s RSI (black) and John Ehlers’ Smoothed RSI (red) with a period of 14.
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