Basically we're looking at the average gain : loss ratio which I think is appropriate to study when looking for a trend (which is still on track).
Referenced from Tradingview's library_
For a practical example, the built-in Pine Script function rsi(), could be replicated in long form as follows.
change = change(close)
gain = change >= 0 ? change : 0.0
loss = change < 0 ? (-1) * change : 0.0
avgGain = rma(gain, 14)
avgLoss = rma(loss, 14)
rs = avgGain / avgLoss ************SPECIAL NOTE
rsi = 100 - (100 / (1 + rs))
"rsi", above, is exactly equal to rsi(close, 14).
_end quote.
Disclaimer: thank you for taking your time to look at my idea please understand that I didn't publish it to influence your decision to invest your money and void myself of any responsibility towards your investments.
Ticker: I don't specialize in the companies sector, I was inspired to publish my idea independently.
Tip: Check another tradingview publication if your looking for something you can't find here.
Thank You, +AndrewAponas+
P.S. I apologize for any inconvenience my publication could have caused you and humbly ask that you contact me with your concerns before reporting my work to a moderator.
Referenced from Tradingview's library_
For a practical example, the built-in Pine Script function rsi(), could be replicated in long form as follows.
change = change(close)
gain = change >= 0 ? change : 0.0
loss = change < 0 ? (-1) * change : 0.0
avgGain = rma(gain, 14)
avgLoss = rma(loss, 14)
rs = avgGain / avgLoss ************SPECIAL NOTE
rsi = 100 - (100 / (1 + rs))
"rsi", above, is exactly equal to rsi(close, 14).
_end quote.
Disclaimer: thank you for taking your time to look at my idea please understand that I didn't publish it to influence your decision to invest your money and void myself of any responsibility towards your investments.
Ticker: I don't specialize in the companies sector, I was inspired to publish my idea independently.
Tip: Check another tradingview publication if your looking for something you can't find here.
Thank You, +AndrewAponas+
P.S. I apologize for any inconvenience my publication could have caused you and humbly ask that you contact me with your concerns before reporting my work to a moderator.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.