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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
SMI Ergodic Oscillator
This indicator plots the SMI Ergodic Oscillator in a separate pane.
GitHub stars37on the repository
Pine versionv5runs as is
Lines of code9
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
9 lines of Pine Script v5 from Technical-Indicators/Technical Indicators are Here🤩/SMI-Ergodic-Oscillator.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator(title="SMI Ergodic Oscillator", shorttitle="SMIO", format=format.price, precision=4, timeframe="", timeframe_gaps=true)
longlen = input.int(20, minval=1, title="Long Length")
shortlen = input.int(5, minval=1, title="Short Length")
siglen = input.int(5, minval=1, title="Signal Line Length")
erg = ta.tsi(close, shortlen, longlen)
sig = ta.ema(erg, siglen)
osc = erg - sig
plot(osc, color=#FF5252, style=plot.style_histogram, title="SMI Ergodic Oscillator")
Overview
SMI Ergodic Oscillator calculates the True Strength Index of close prices using the short and long lengths, smooths that result with an exponential moving average signal, and plots the difference as a histogram. Traders adjust the long length, short length, and signal line length to change the oscillator’s sensitivity and smoothing. It does not generate entries, exits, or position sizing, and it does not draw on the price chart.
- True Strength Index calculation
- EMA signal line
- Histogram of oscillator difference
- Adjustable long and short lengths
- Separate pane display
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 |
|---|---|---|---|
| Long Length | int | 20 | longlen |
| Short Length | int | 5 | shortlen |
| Signal Line Length | int | 5 | siglen |
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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