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https://github.com/mihakralj/QuanTAlib.git
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37 lines
1.2 KiB
Plaintext
37 lines
1.2 KiB
Plaintext
// Licensed under the Apache License, Version 2.0
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// © mihakralj
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//@version=6
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indicator("Relative Strength Index (RSI)", "RSI", overlay=false)
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//@function Calculates Relative Strength Index using Wilder's smoothing
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//@param src Source series to calculate RSI for
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//@param len Lookback period for RSI calculation
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//@returns RSI value measuring momentum and overbought/oversold conditions
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rsi(series float src, simple int len) =>
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if len <= 0
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runtime.error("Length must be greater than 0")
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float u = math.max(src - src[1], 0)
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float d = math.max(src[1] - src, 0)
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float alpha = 1/len, float smoothUp = 0.0, float smoothDown = 0.0
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if bar_index < len
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smoothUp := u
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smoothDown := d
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else
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smoothUp := nz(smoothUp[1]) * (1 - alpha) + u * alpha
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smoothDown := nz(smoothDown[1]) * (1 - alpha) + d * alpha
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float rs = smoothDown == 0 ? 0 : smoothUp/smoothDown
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float rsi = smoothDown == 0 ? 100 : 100 - (100 / (1 + rs))
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rsi
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// ---------- Main loop ----------
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// Inputs
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i_length = input.int(14, "Length", minval=1)
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i_source = input.source(close, "Source")
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// Calculation
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rsi_value = rsi(i_source, i_length)
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// Plot
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plot(rsi_value, "RSI", color=color.yellow, linewidth=2)
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