OPEN-SOURCE SCRIPT

M.Kiriti RSI with SMA & WMA

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This script is a custom RSI indicator with added SMA and WMA moving averages to smooth RSI trends and improve analysis of momentum shifts.

1. RSI Calculation: Measures 14-period RSI of the closing price, default threshold levels at 70 (overbought) and 30 (oversold).

2. Moving Averages (SMA and WMA):
- SMA and WMA are applied to RSI for trend smoothing.
- SMA gives equal weight; WMA gives more weight to recent values, making it more responsive.

3.Overbought/Oversold Lines and Labels:
- Horizontal lines and scale labels at 70 (overbought) and 30 (oversold) make these levels easy to reference.

This indicator is useful for identifying potential reversal points and momentum trends when RSI crosses its moving averages.

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.