The Adaptive RSI Moving Average (ARSIMA) is an overlay indicator that dynamically adjusts its smoothing factor based on the Relative Strength Index (RSI). When the RSI moves toward extreme overbought or oversold conditions, the smoothing factor increases to ma
Indicator · Pine Script v4 · On the chart
Test
This indicator plots a small red label above price bars when a custom relative strength reading crosses down through a user-set pivot.
GitHub stars3on the repository
Pine versionv4older, still runs
Lines of code48
Settings2inputs
LicenceMIT
Last update5 years ago19 Dec 2020
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
48 lines of Pine Script v4 from indicator/single/relative_strength.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=4
// -------------------------------------------------------------------------- //
study(title="Test", shorttitle="Test", overlay=true)
// -------------------------------------------------------------------------- //
rsl = input(title="RSI Length", type=input.integer, defval=21, minval=1, step=1)
rsp = input(title="RSI Pivot", type=input.integer, defval=60, minval=1, step=1)
// new_crb returns true if the current bar is red, that is, the current open
// price is higher than the current close price. This signals a local downward
// movement. Here crb means current red bar.
new_crb() =>
open > close
// new_hpb returns the relative strength indicator for the current bar, based on
// the running moving average. Here rsb means relative strength bar.
new_rsb(src, rsl) =>
upw = rma( max(change(src), 0), rsl)
dow = rma(-min(change(src), 0), rsl)
dow == 0 ? 100 : upw == 0 ? 0 : 100 - (100 / (1 + upw / dow))
// new_rsi returns the relative strength indicator for overbought price peaks.
// If the RSI band crosses under the RSI turning point given by rsp then new_rsi
// returns true.
new_rsi(src, rsl, rsp) =>
new_rsb(src, rsl)[1] > rsp and new_rsb(src, rsl)[0] < rsp
// -------------------------------------------------------------------------- //
plotshape(new_rsi(close, rsl, rsp), text="RSI", location=location.abovebar, style=shape.labeldown, size=size.tiny, color=color.red, textcolor=color.white, transp=0)
Overview
Test builds the reading from running moving averages of upward and downward close changes, in the same form as RSI. The RSI length controls the smoothing window and the RSI pivot sets the overbought threshold that must be crossed from above. It draws on the price chart and only marks that downward cross; it does not generate exits, stops, or position sizing.
- Custom RSI from up and down averages
- Cross under a set RSI pivot
- Red label above the price bar
- Adjustable RSI length and pivot
Details
Published by
blackcat1402 on GitHub
Type
Indicator, Pine Script v4
Draws
On the price 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 | 21 | rsl |
| RSI Pivot | int | 60 | rsp |
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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