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Smoothed RSI by Mehmet Yildizli - SORS
Updated
I assume that most of you already know Relative Strength Index indicator. It gives us the following signals in general, when we see the following conditions occur. If RSI crosses;
1. 30 above, it means BUY signal.
2. 50 above, it means WAIT signal.
3. 70 above, it means WAIT and be careful for SELL signal.
4. 70 below, it means SELL signal.
5. 50 below, it means WAIT signal.
6. 30 below, it means WAIT and be careful for BUY signal.
On the other hand, RSI sometimes crosses those reference levels very often in the opposite direction. This is a very big problem, in fact. It may cause you lose money.
That'is it!. This indicator (Smoothed Relative Strength Index by Mehmet Yildizli - SORS) is a new version of Relative strength index that moves smoothedly. Therefore, it doesnt cross those reference levels listed above, very oftenly in the opposite directions.
There two lines of this indicator. First is RSI line. You can change the parameters of RSI on the settings window of the indicator. The interpretation of the indicator is the same with the classic RSI indicator, as represented above.
Other line is the signal line. This signal line is calculated of RSI line according to the DEMA(Double Exponential Moving Average) approach.
You can change the parameter of signal line on the settings window.
Hope you will like and benefit!
1. 30 above, it means BUY signal.
2. 50 above, it means WAIT signal.
3. 70 above, it means WAIT and be careful for SELL signal.
4. 70 below, it means SELL signal.
5. 50 below, it means WAIT signal.
6. 30 below, it means WAIT and be careful for BUY signal.
On the other hand, RSI sometimes crosses those reference levels very often in the opposite direction. This is a very big problem, in fact. It may cause you lose money.
That'is it!. This indicator (Smoothed Relative Strength Index by Mehmet Yildizli - SORS) is a new version of Relative strength index that moves smoothedly. Therefore, it doesnt cross those reference levels listed above, very oftenly in the opposite directions.
There two lines of this indicator. First is RSI line. You can change the parameters of RSI on the settings window of the indicator. The interpretation of the indicator is the same with the classic RSI indicator, as represented above.
Other line is the signal line. This signal line is calculated of RSI line according to the DEMA(Double Exponential Moving Average) approach.
You can change the parameter of signal line on the settings window.
Hope you will like and benefit!
Release Notes
Bu versiyonda yapılan değişiklikler:1. Sinyal çizgisi hesaplamasında kullanılan bir sabit parametrik hale getirilmiştir. "RSI Signal Period" değişkeni RSI çizgisinin o periyottaki DEMA hesaplamasında kullanılırken, yeni eklenmiş olan "RSI Signal Period-2" parametresi ise hesaplanan bu ortalamanın EMA'sını hesaplarken kullanılmaktadır.
2. İndikatörün parametrelerinin varsayılan değerleri 14-5-4 olarak set edilmiştir. Ancak tekrar hatırlatmakta fayda görüyorum: Bu parametrelerin; farklı enstrümanlarda ya da yatırım araçlarında ve farklı periyotlar için, farklı değerlere sahip olması daha iyi alış/satış sinyalleri üretebilir. Bunun için kullanmaya başlamadan önce bu parametrelerin değerlerini değiştirerek kontrol etmeniz faydalı olacaktır.
3. İndikatördeki mavi RSI çizgisiyle kırmızı sinyal çizgisi bazen birbirine çok yaklaşıyor. Bu nedenle, hangisinin üstte hangisinin altta olduğunu tespit etmek zor oluyordu. Bu nedenle indikatöre sinyal balonları eklenmiştir. UP ve DOWN şeklinde gösterilmiş olan sinyallerden UP çıkması durumunda, RSI çizgisinin sinyal çizgisini aşağıdan yukarı kestiği; DOWN çıkması durumunda ise, RSI çizgisinin sinyal çizgisini yukarıdan aşağı kestiği anlaşılmalıdır.
Bol kazançlı işlemlerde kullanmanız dileğiyle, sağlıklı günler dilerim.
ENGLISH:
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Changes made in this version:
1. A constant used in the signal line calculation have been converted to a parameter. While the "RSI Signal Period" variable is used in the DEMA calculation of the RSI line in that period, the newly added "RSI Signal Period-2" parameter is used to calculate the EMA of this calculated average.
2. The default values of the parameters of the indicator have been set as 14-5-4. However, I would like to remind you again: These parameters; Having different values in different instruments or investment, instruments and for different periods can produce better buy / sell signals. For this, it will be useful to change the values of these parameters before you start using them.
3. The blue RSI line on the indicator and the red signal line sometimes get very close to each other. Therefore, it was difficult to determine which was on top and which was on the bottom. Therefore, signal balloons have been added to the indicator. In the case of UP output from the signals shown, the RSI line crosses the signal line from the bottom; In the case of DOWN, it should be understood that the RSI line crosses the signal line from top.
Hope you will use it in profitable transactions, I wish you healthy days.
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