ADX, RSI, & TSI utilized as ART [by KeremErtem]

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The "ADX, RSI, & TSI utilized as ART" script is an advanced technical analysis tool designed by Kerem Ertem to help traders identify trend direction, strength, and potential reversals. It integrates the Average Directional Index (ADX), Relative Strength Index (RSI), and True Strength Index (TSI) into a cohesive, user-friendly indicator known as ART (Adaptive Relative Trend).

What it does:

Trend Detection: Utilizes ADX to identify the strength and direction of trends.

Momentum Analysis: Uses RSI to gauge the speed and change of price movements.

Signal Smoothing: Incorporates TSI to reduce noise and provide clearer signals.

How it works:

Input Settings: Customize the source (hlc3), signal period (l1), and lookback range (l2) to tailor the indicator to your trading strategy.

Angle Calculation (ACI): The script calculates the angle of price movements using a custom function, which combines the lowest and highest prices with moving averages to create a smoother representation of trend angles.

Weighted Average: The ACI function is applied to the source price to derive a weighted average, which serves as the foundation for further calculations.

RSI Integration: The script calculates the RSI based on the weighted average price and further refines it using the ACI function to enhance signal accuracy.

ADX Calculation: ADX values are computed and adjusted using the ACI function to provide a clearer indication of trend strength and direction.

ART Indicator: The combined results of the RSI and ADX calculations form the ART indicator, which is plotted alongside trend lines and bands for comprehensive trend analysis.

Bands and Trend Lines: The script plots upper, lower, and center bands based on standard deviation and moving averages, providing visual cues for potential support and resistance levels.

How to use it:

Customization: Adjust the signal period, lookback range, RSI length, and ADX settings to fit your trading preferences.

Interpretation: Green ART signal lines indicate bullish trends, while red lines indicate bearish trends. The trend line color changes from cyan to magenta based on the trend direction.

Bands: Use the upper and lower bands as potential entry and exit points, with the center line acting as a trend confirmation.

This script offers a comprehensive approach to trend and momentum analysis, making it a valuable tool for traders seeking to enhance their trading strategies with advanced technical indicators.

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The "ADX, RSI, & TSI utilized as ART" script is an advanced technical analysis tool designed by Kerem Ertem to help traders identify trend direction, strength, and potential reversals. It integrates the Average Directional Index (ADX), Relative Strength Index (RSI), and True Strength Index (TSI) into a cohesive, user-friendly indicator known as ART (Adaptive Relative Trend).

What it does:
• Trend Detection: Utilizes ADX to identify the strength and direction of trends.
• Momentum Analysis: Uses RSI to gauge the speed and change of price movements.
• Signal Smoothing: Incorporates TSI to reduce noise and provide clearer signals.

How it works:
1. Input Settings: Customize the source (hlc3), signal period (l1), and lookback range (l2) to tailor the indicator to your trading strategy.
2. Angle Calculation (ACI): The script calculates the angle of price movements using a custom function, which combines the lowest and highest prices with moving averages to create a smoother representation of trend angles.
3. Weighted Average: The ACI function is applied to the source price to derive a weighted average, which serves as the foundation for further calculations.
4. RSI Integration: The script calculates the RSI based on the weighted average price and further refines it using the ACI function to enhance signal accuracy.
5. ADX Calculation: ADX values are computed and adjusted using the ACI function to provide a clearer indication of trend strength and direction.
6. ART Indicator: The combined results of the RSI and ADX calculations form the ART indicator, which is plotted alongside trend lines and bands for comprehensive trend analysis.
7. Bands and Trend Lines: The script plots upper, lower, and center bands based on standard deviation and moving averages, providing visual cues for potential support and resistance levels.

How to use it:
• Customization: Adjust the signal period, lookback range, RSI length, and ADX settings to fit your trading preferences.
• Interpretation: Green ART signal bars indicate bullish trends, while red bars indicate bearish trends. The trend line color changes from cyan to magenta based on the trend direction.
• Bands: Use the upper and lower bands as potential entry and exit points, with the center line acting as a trend confirmation.

This script offers a comprehensive approach to trend and momentum analysis, making it a valuable tool for traders seeking to enhance their trading strategies with advanced technical indicators.

!!! UPDATE:
New Feature: Smoothing in the ACI Function
The latest update to the script introduces smoothing to the Angle Calculation (ACI) function, enhancing the accuracy and clarity of trend detection. This smoothing technique reduces noise and provides a more consistent representation of trend angles, making it easier for traders to identify significant price movements and potential reversals.