RSI Modified
[SwingMann©] Modified RSI – RSI 50 + EMA 5 Smoothing
This indicator is a modified version of the standard Relative Strength Index (RSI), combining a 50-period RSI with additional smoothing options and an EMA 5 smoothing layer.
The objective is to provide a clearer view of momentum direction and its underlying structure.
Main Components:
- RSI 50: A deliberately selected period length that creates a smoother and more stable momentum reading than the commonly used RSI 14.
- Smoothing MA: Additional smoothing options allow the RSI to be analyzed using different moving average methods.
- EMA 5 Smoothing: When EMA smoothing is selected, an additional EMA 5 is calculated on top of the RSI-based moving average.
- Trend Colors:The EMA 5 changes color according to its slope:
- Green (#089981): Rising momentum
- Red (#f23645): Falling momentum
- **RSI Levels:** The 40, 50 and 60 levels provide additional reference points for evaluating momentum conditions.
- Divergence Detection: Optional regular bullish and bearish divergence detection based on RSI pivot structures.
Underlying Concept:
The choice of RSI 50 is intentional. Instead of focusing primarily on short-term momentum fluctuations, this setting aims to capture broader and more persistent momentum movements.
The additional moving average smoothing helps reduce short-term fluctuations and makes the underlying momentum direction easier to interpret.
The EMA 5 smoothing adds another layer of refinement. It follows the smoothed RSI and provides a visual representation of changes in momentum direction.
The 50 level serves as the central reference point, while the 40 and 60 levels help identify changes in the prevailing momentum environment.
The objective is to make momentum structure easier to recognize, distinguish sustained directional movements from short-term fluctuations, and provide an additional tool for technical chart analysis.
This indicator does not generate trading signals. It is designed as a visual aid for independent market analysis.
This indicator is a modified version of the standard Relative Strength Index (RSI), combining a 50-period RSI with additional smoothing options and an EMA 5 smoothing layer.
The objective is to provide a clearer view of momentum direction and its underlying structure.
Main Components:
- RSI 50: A deliberately selected period length that creates a smoother and more stable momentum reading than the commonly used RSI 14.
- Smoothing MA: Additional smoothing options allow the RSI to be analyzed using different moving average methods.
- EMA 5 Smoothing: When EMA smoothing is selected, an additional EMA 5 is calculated on top of the RSI-based moving average.
- Trend Colors:The EMA 5 changes color according to its slope:
- Green (#089981): Rising momentum
- Red (#f23645): Falling momentum
- **RSI Levels:** The 40, 50 and 60 levels provide additional reference points for evaluating momentum conditions.
- Divergence Detection: Optional regular bullish and bearish divergence detection based on RSI pivot structures.
Underlying Concept:
The choice of RSI 50 is intentional. Instead of focusing primarily on short-term momentum fluctuations, this setting aims to capture broader and more persistent momentum movements.
The additional moving average smoothing helps reduce short-term fluctuations and makes the underlying momentum direction easier to interpret.
The EMA 5 smoothing adds another layer of refinement. It follows the smoothed RSI and provides a visual representation of changes in momentum direction.
The 50 level serves as the central reference point, while the 40 and 60 levels help identify changes in the prevailing momentum environment.
The objective is to make momentum structure easier to recognize, distinguish sustained directional movements from short-term fluctuations, and provide an additional tool for technical chart analysis.
This indicator does not generate trading signals. It is designed as a visual aid for independent market analysis.
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Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Ohne Handelsstrategie bist Du an der Börse verloren...
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.