by 
Asymmetrical RSI is an indicator that computes a custom relative strength index from the rate of change of a user-selected source. It plots the resulting ARSI line in a separate pane with color coding that turns green above the overbought level and red below t
Indicator · Pine Script v5 · Own pane
Connors RSI
Calculates the Connors RSI composite momentum oscillator, combining a short-term Relative Strength Index, an Up/Down streak length RSI, and a Percent Rank of the one-period Rate of Change.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code21
Settings3inputs
LicenceMIT
Last update3 years ago10 Feb 2023
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
21 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/connors-rsi.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="Connors RSI", shorttitle="CRSI", format=format.price, precision=2, timeframe="", timeframe_gaps=true)
src = close
lenrsi = input(3, "RSI Length")
lenupdown = input(2, "UpDown Length")
lenroc = input(100, "ROC Length")
updown(s) =>
isEqual = s == s[1]
isGrowing = s > s[1]
ud = 0.0
ud := isEqual ? 0 : isGrowing ? (nz(ud[1]) <= 0 ? 1 : nz(ud[1])+1) : (nz(ud[1]) >= 0 ? -1 : nz(ud[1])-1)
ud
rsi = ta.rsi(src, lenrsi)
updownrsi = ta.rsi(updown(src), lenupdown)
percentrank = ta.percentrank(ta.roc(src, 1), lenroc)
crsi = math.avg(rsi, updownrsi, percentrank)
plot(crsi, "CRSI", #2962FF)
band1 = hline(70, "Upper Band", color = #787B86)
hline(50, "Middle Band", color=color.new(#787B86, 50))
band0 = hline(30, "Lower Band", color = #787B86)
fill(band1, band0, color.rgb(33, 150, 243, 90), title = "Background")
Overview
The three components are averaged together to output a single value bounded between 0 and 100, plotted in a separate pane. Reference lines are drawn at 30, 50, and 70 to highlight overbought or oversold territories. Users can adjust the periods for the RSI, Up/Down streak RSI, and Rate of Change calculations.
- Short-term RSI length calculation
- Up/Down consecutive streak measurement
- Rate of change percent rank evaluation
- Composite 3-component momentum oscillator
- Overbought and oversold reference bands
Details
Published by
TWODS-CAPITAL on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Oscillators & momentum
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| RSI Length | int | 3 | lenrsi |
| UpDown Length | int | 2 | lenupdown |
| ROC Length | int | 100 | lenroc |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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