TTI RSIV-1 indicator

v10.3
TTI RSIV-1 indicator

The classic Relative Strength Indicator as created by J. Welles Wilder Jr. is based on sound logic, and was a groundbreaking technical tool in its day. When it was introduced in 1978, computational hardware was not widespread, and it is thus reflective of that limitation. In those days, the trader could not just flip the computer on switch and crank out a hundred million operations per second whenever she felt like it. The original RSI is calculated with an exponential moving average of the increases and decreases for updays and downdays, respectively. The TTI RSIV-1 version computes a simple product of the two, using multiplication. The process of multiplication emphasizes larger movements more decidedly, thus magnifying volatility. It is because of this change that the threshold triggers should to be changed to 25 and 75.

The RSIV-1 is able to adapt quickly to the change in trading direction and thus give back-to-back long and short signals. The primary reason that RSIV-1 can adapt quickly is due to the nature of the linear regression it uses. Linear regression can adapt to direction changes relatively fast.

Description from author of the indicator: Kirk Northington

 

Indicator translated from TradeStation programming language by a request on the Italian forum.

 

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
luxrun I have a problem that I don't understand: by changing the parameters of the CCI and RSI peri...
Iván Hi! Sorry... You have to check lines 9 to 13 and delete. //CCIper = 14 //RSIper = 14 //Ma...
luxrun grazie Ivàn!
Faisalx ChatGPT Hola Iván. Gracias por tu excelente trabajo. Te agradecería si pudieras echarle un...
Iván ok, perfecto! me pongo con ello
Iván
7 months ago
Iván Hi, Sorry, but what do you mean?
luiskohnen Hola, queria saber si el indicador repinta, porque a mi me parecio que si. Saludos y gracias...
Diamant Bonsoir, L'un d'entre vous peut-il me donner les définissions de LL-HH-LH et HL. Merci d'av...
Bernard13 (Je réécris mon commentaire -français- en français car certains mots ne correspondaient pas ...
Iván 1000 indicateurs !!! brutaux
Lean Me parece muy buen indicador, y se complementa muy bien en mi sistema, ¿podrías crear un scr...
Iván Gracias! Para el screener sólo tienes que copiar el indicador y poner como condición de búsq...
Lean Muchas gracias Iván, ya lo he podido crear.
Iván sería así //------------------Inputs------------------------------ linreglength = 11//i...
Doddge Muchísimas gracias Iván, está genial.
superfalcio holaaa, have you run some statistics?
Msport71 Thank You very much
Bateson
11 months ago
Matriciel Very nice job ! Is it possible to do the opposite because what interests me is to have the ...
YvesRobert Hi Matriciel, how can we do this, because stochastic is limited between 0 and 100 but price ...
Traderfox06 Dear zeiiermantrading, I really like your approach combining adaptive averages with MACD in...
jacquesgermain Hello IASD it's normal , when this occurs, uncheck RSI and MFI line and click then the MAC...
emiliobercial Thank you very much for sharing!
Carlose estoy de acuerdo con IASD Esta muy bien el MAD y el indicador en el precio no se ven bien...
bousalahane merci pour le partage de cet l'indicateur, j'ai rajouté un autre indicateur pour faire une s...
joaoarcher Hi, thank you for the this. Is it possible to create a screener from this indicator, so that...
ThaNoizy Yes, you cannot use CFDs on IG for Weekly strats you need to use their Index Futures, they h...
KumoNoJuzza Thanks. I did not know IG had Futures. I am always missing an info or a detail. I used to th...
joaoarcher Hi, thank you for the this. Is it possible to create a screener from this indicator, so that...
Nicolas
2 years ago
3 RSI
3 RSI
2
Indicators
Violet Nicolas, you calculate iRSI, but don't use it. You show RSI in the returned values, which, a...
Nicolas Yes, that's an error. RSI instruction is set by default to 14 if you don't indicate it that'...
DELBERT Bonjour , Nicolas , je voudrais installer cet indicateur sur ma PRT , version 10.3 , mais je...
Nicolas En effet, il faut à minima une version 11. La 10.3 est tellement ancienne maintenant.. Je pe...
DELBERT Bonjour , Nicolas , merci pour ta réponse , je fais un essai et je verrais . Salutations .
Khaled Thank you Nicolas! Looks like TDI (Trader Dynamic Index). Interesting to give Exit Signal as...
Nicolas ColorBetween is an instruction added last year: https://www.prorealcode.com/documentation/co...
Nicolas change the last line with: return v coloured(r,g,b) style(line,2), v+band coloured(168,168,1...
Paolo.B Thanks ... works as i wanted.
Kanamax Bonjour Nicolas, comme Paolo.B je souhaiterais utiliser cette indicateur au sein d'un code. ...

Top