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 v4 · Own pane
PSMC - Stochastic & RSI
This indicator calculates a Stochastic oscillator based on Relative Strength Index (RSI) values rather than standard price data, functioning like a custom Stoch RSI.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code26
Settings5inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago13 Sep 2024
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
26 lines of Pine Script v4 from advanced-pine-script/16.Bonus-V4-Content/5.Stochastic-Based-On-RSI.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// demonstrates how to modify the Stochastic indicator to calculate its data based on the RSI instead of price action.
/// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
//@version=4
study("PSMC - Stochastic & RSI")
// Get user input
kInput = input(title="K Length", type=input.integer, defval=14)
dInput = input(title="D Length", type=input.integer, defval=3)
rsiLength = input(title="RSI Length", type=input.integer, defval=14)
obLevel = input(title="Overbought Threshold", type=input.float, defval=80)
osLevel = input(title="Oversold Threshold", type=input.float, defval=20)
// Calculate our stochastic
rsi = rsi(close, rsiLength)
k = 100 * ((rsi - lowest(rsi, kInput)) / (highest(rsi, kInput) - lowest(rsi, kInput)))
d = sma(k, dInput)
// Draw data to chart
plot(obLevel, color=color.red, linewidth=2, title="Overbought")
plot(osLevel, color=color.green, linewidth=2, title="Oversold")
plot(rsi, color=rsi > obLevel ? color.red : rsi < osLevel ? color.green : color.black, linewidth=2)
plot(k, color=color.purple, title="K")
plot(d, color=color.orange, title="D")
Overview
PSMC - Stochastic & RSI plots the raw RSI line alongside the derived %K and %D lines in a separate pane. The RSI plot changes color dynamically when crossing above overbought or below oversold levels. Users can customize the RSI lookback period, %K and %D smoothing lengths, and horizontal threshold levels.
- Stochastic oscillator calculated directly from RSI
- Smoothed %D signal line using a simple moving average
- Dynamic color-coded RSI plot for overbought and oversold states
- Configurable threshold levels and lookback lengths
Details
Published by
Web3Degenerate on GitHub
Type
Indicator, Pine Script v4
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 |
|---|---|---|---|
| K Length | int | 14 | kInput |
| D Length | int | 3 | dInput |
| RSI Length | int | 14 | rsiLength |
| Overbought Threshold | float | 80 | obLevel |
| Oversold Threshold | float | 20 | osLevel |
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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