John Ehler's Rocket RSI

• 05/03/2018 at 4:24 PM #69736
  Bard

  Here is a version John Ehler’s Rocket RSI – originally from this May’s 2018 issue of Stocks & Commodities Magazine – and found on Trading View com, if anyone could modify the code for PRT?

  https://www.tradingview.com/script/VXOLWM61-Rocket-RSI/

  Thanks
  Bard

  Rocket RSI

  //@version=3 // Copyright (c) 2018-present, Alex Orekhov (everget) // Rocket RSI indicator script may be freely distributed under the MIT license. study("Rocket RSI", shorttitle="Rocket RSI") rsiLength = input(title="RSI Length", type=integer, defval=10, minval=1) smoothingLength = input(title="Smoothing Length", type=integer, defval=8, minval=1) obosLevel = input(title="Overbought / Oversold Level", type=float, defval=2.0, minval=0.0) applyNormalization = input(title="Apply Normalization to [-100, 100] values ?", type=bool, defval=false) src = input(title="Source", type=source, defval=close) PI = 2 * asin(1) a1 = 0.0 b1 = 0.0 c1 = 0.0 c2 = 0.0 c3 = 0.0 // Compute Super Smoother coefficients a1 := exp(-1.414 * PI / smoothingLength) b1 := 2 * a1 * cos(1.414 * 180 / smoothingLength) c2 := b1 c3 := -a1 * a1 c1 := 1 - c2 - c3 // Create half dominant cycle momentum mom = change(src, rsiLength - 1) // Super Smoother Filter ssf = 0.0 ssf := c1 * (mom + nz(mom[1])) / 2 + c2 * nz(ssf[1]) + c3 * nz(ssf[2]) // Accumulate <code>Closes Up</code> and <code>Closes Down upSum = sum(change(ssf, 1) > 0 ? change(ssf, 1) : 0.0, rsiLength) downSum = sum(change(ssf, 1) > 0 ? 0.0 : abs(change(ssf, 1)), rsiLength) tmpRSI = 0.0 tmpRSI := upSum + downSum != 0 ? (upSum - downSum) / (upSum + downSum) : nz(tmpRSI[1]) // Limit RocketRSI output to +/-3 Standard Deviations if tmpRSI > 0.999 tmpRSI := 0.999 if tmpRSI < -0.999 tmpRSI := -0.999 // Apply Fisher Transform to establish Gaussian Probability Distribution rocketRSI = 0.5 * log((1 + tmpRSI) / (1 - tmpRSI)) rocketRSI := applyNormalization ? rocketRSI * 25 : rocketRSI overboughtLevel = applyNormalization ? obosLevel * 25 : obosLevel oversoldLevel = applyNormalization ? obosLevel * -25 : obosLevel * -1 rocketRSIColor = rocketRSI > overboughtLevel ? green : rocketRSI < oversoldLevel ? red : #ff9370 plot(rocketRSI, title="RRSI", linewidth=2, color=rocketRSIColor, transp=0) plot(overboughtLevel, title="OB Level", style=circles, color=#3d85c6, transp=0) hline(0, title="Zero Level", linestyle=dotted) plot(oversoldLevel, title="OS Level", style=circles, color=#3d85c6, transp=0)

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  //@version=3 // Copyright (c) 2018-present, Alex Orekhov (everget) // Rocket RSI indicator script may be freely distributed under the MIT license. study("Rocket RSI", shorttitle="Rocket RSI")   rsiLength = input(title="RSI Length", type=integer, defval=10, minval=1) smoothingLength = input(title="Smoothing Length", type=integer, defval=8, minval=1) obosLevel = input(title="Overbought / Oversold Level", type=float, defval=2.0, minval=0.0) applyNormalization = input(title="Apply Normalization to [-100, 100] values ?", type=bool, defval=false) src = input(title="Source", type=source, defval=close)   PI = 2 * asin(1)   a1 = 0.0 b1 = 0.0 c1 = 0.0 c2 = 0.0 c3 = 0.0   // Compute Super Smoother coefficients a1 := exp(-1.414 * PI / smoothingLength) b1 := 2 * a1 * cos(1.414 * 180 / smoothingLength) c2 := b1 c3 := -a1 * a1 c1 := 1 - c2 - c3   // Create half dominant cycle momentum mom = change(src, rsiLength - 1)   // Super Smoother Filter ssf = 0.0 ssf := c1 * (mom + nz(mom[1])) / 2 + c2 * nz(ssf[1]) + c3 * nz(ssf[2])   // Accumulate <code>Closes Up</code> and <code>Closes Down upSum = sum(change(ssf, 1) > 0 ? change(ssf, 1) : 0.0, rsiLength) downSum = sum(change(ssf, 1) > 0 ? 0.0 : abs(change(ssf, 1)), rsiLength)   tmpRSI = 0.0 tmpRSI := upSum + downSum != 0 ? (upSum - downSum) / (upSum + downSum) : nz(tmpRSI[1])   // Limit RocketRSI output to +/-3 Standard Deviations if tmpRSI > 0.999 tmpRSI := 0.999   if tmpRSI < -0.999     tmpRSI := -0.999   // Apply Fisher Transform to establish Gaussian Probability Distribution rocketRSI = 0.5 * log((1 + tmpRSI) / (1 - tmpRSI)) rocketRSI := applyNormalization ? rocketRSI * 25 : rocketRSI   overboughtLevel = applyNormalization ? obosLevel * 25 : obosLevel oversoldLevel = applyNormalization ? obosLevel * -25 : obosLevel * -1   rocketRSIColor = rocketRSI > overboughtLevel ? green : rocketRSI < oversoldLevel ? red : #ff9370   plot(rocketRSI, title="RRSI", linewidth=2, color=rocketRSIColor, transp=0)   plot(overboughtLevel, title="OB Level", style=circles, color=#3d85c6, transp=0) hline(0, title="Zero Level", linestyle=dotted) plot(oversoldLevel, title="OS Level", style=circles, color=#3d85c6, transp=0)

   

   

   

   

  

  Bard

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  05/03/2018 at 5:04 PM #69741
  Despair

  Do you have a link to the original article?

  

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  05/04/2018 at 9:41 AM #69775
  Despair

  I uploaded the indicator to the library.

  

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  05/04/2018 at 11:56 AM #69780
  Bard

  Hi Despair,

  Thanks very much for coding it. I took some copies of my magazine if that helps.

  Cheers
  Bard

  

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  05/04/2018 at 12:10 PM #69784
  Despair

  Thanks, I found the the indicator in traders tips for this month.

  Here is the code in case you are impatient and can’t wait for Nicolas to approve it for the library:

  RocketRSI

  // RSILength = 10 // SmoothLength = 10 // OBOSLevel = 2 //Compute Super Smoother coefficients once if barindex = 1 then a1 = exp( -1.414 * 3.14159/ ( SmoothLength ) ) b1 = 2 * a1 * Cos( 1.414 * 180/ ( SmoothLength ) ) c2 = b1 c3 = -square(a1) c1 = 1 - c2 - c3 endif if barindex > RSILength then //Create half dominant cycle Momentum Mom = Close - Close[RSILength - 1] //SuperSmoother Filter Filt = c1 * ( Mom + Mom[1] ) / 2 + c2 * Filt[1] + c3 * Filt[2] //Accumulate "Closes Up" and "Closes Down" CU = 0 CD = 0 for count = 0 to RSILength -1 do if Filt[count] - Filt[count + 1] > 0 then CU = CU + Filt[count] - Filt[count + 1] endif if Filt[count] - Filt[count + 1] < 0 then CD = CD + Filt[count + 1] - Filt[count] endif next if CU + CD <> 0 then MyRSI = ( CU - CD ) / ( CU + CD ) endif //Limit RocketRSI output to //+/- 3 Standard Deviations MyRSI = min(max(MyRSI,-.999),.999) //Apply Fisher Transform to establish //Gaussian Probability Distribution RocketRSI = .5 * Log( ( 1 + MyRSI ) / ( 1 - MyRSI ) ) endif return RocketRSI coloured(0,0,255) as "RocketRSI", 0 as "Zero Line", OBOSLevel coloured(255,0,0) as "OverBought", -OBOSLevel coloured(255,0,0) as "OverSold"

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  // RSILength = 10 // SmoothLength = 10 // OBOSLevel = 2   //Compute Super Smoother coefficients once if barindex = 1 then a1 = exp( -1.414 * 3.14159/ ( SmoothLength ) ) b1 = 2 * a1 * Cos( 1.414 * 180/ ( SmoothLength ) ) c2 = b1 c3 = -square(a1) c1 = 1 - c2 - c3 endif if barindex > RSILength then //Create half dominant cycle Momentum Mom = Close - Close[RSILength - 1]   //SuperSmoother Filter Filt = c1 * ( Mom + Mom[1] ) / 2 + c2 * Filt[1] + c3 * Filt[2]   //Accumulate "Closes Up" and "Closes Down" CU = 0 CD = 0 for count = 0 to RSILength -1 do if Filt[count] - Filt[count + 1] > 0 then CU = CU + Filt[count] - Filt[count + 1] endif if Filt[count] - Filt[count + 1] < 0 then CD = CD + Filt[count + 1] - Filt[count] endif next   if CU + CD <> 0 then MyRSI = ( CU - CD ) / ( CU + CD ) endif   //Limit RocketRSI output to //+/- 3 Standard Deviations MyRSI = min(max(MyRSI,-.999),.999)   //Apply Fisher Transform to establish //Gaussian Probability Distribution RocketRSI = .5 * Log( ( 1 + MyRSI ) / ( 1 - MyRSI ) ) endif return RocketRSI coloured(0,0,255) as "RocketRSI", 0 as "Zero Line", OBOSLevel coloured(255,0,0) as "OverBought", -OBOSLevel coloured(255,0,0) as "OverSold"

   

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