Stochastic RSI
This is a standard stochastic rsi, but the rsi passed through a momentum formula before given to stochastic, also, unlike standard stochastic rsi, it has different lookup length for low and high of rsi.
The result is almost identical to stochastic but when stochastic hits top and bottom levels and gets locked because of clamping, this version will behave properly.
The source is hidden but this script has global access.
Take note that this is not a script that I would use in my own system but some of my friends were looking for such script.
Also, it's worth mentioning that the range of this script was changed from standard 0 to 100, and it's -100 to 100.
There's still a chance for getting locked on top and bottom specially in parabolic moves but that is the nature of RSI and also stochastic and without tweaking the standard formula drastically, it won't go away and this is exactly why i wouldn't put this in my own methodology.
The result is almost identical to stochastic but when stochastic hits top and bottom levels and gets locked because of clamping, this version will behave properly.
The source is hidden but this script has global access.
Take note that this is not a script that I would use in my own system but some of my friends were looking for such script.
Also, it's worth mentioning that the range of this script was changed from standard 0 to 100, and it's -100 to 100.
There's still a chance for getting locked on top and bottom specially in parabolic moves but that is the nature of RSI and also stochastic and without tweaking the standard formula drastically, it won't go away and this is exactly why i wouldn't put this in my own methodology.
Notes de version:
Just added inputs for periods and source setting because a user asked for them. Remember, the defaults may look like a lagging signal, but they are not, this is already a leading indicator but the signal may happen many bars before the actual impulsive move happen.
The settings were chosen based on two factors, signalling as fast as possible while keeping the noise in the tool at minimum, this some times cause a little bit of lag compared to standard stochastic rsi, tweaking the numbers and find what you like is up to you.
The settings were chosen based on two factors, signalling as fast as possible while keeping the noise in the tool at minimum, this some times cause a little bit of lag compared to standard stochastic rsi, tweaking the numbers and find what you like is up to you.