Relative Strength Volatility Adjusted Ema [CC]

The Relative Strength Volatility Adjusted Exponential Moving Average was created by Vitali Apirine (Stocks and Commodities Mar 2022) and this is his final indicator of his recent Relative Strength series. I published both of the previous indicators, Relative Strength Volume Adjusted Exponential Moving Average and Relative Strength Exponential Moving Average

This indicator is particularly unique because it uses the Volatility Index (VIX) symbol as the default to determine volatility and uses this in place of the current stock's price into a typical relative strength calculation. As you can see in the chart, it follows the price much closer than the other two indicators and so of course this means that this indicator is best for choppy markets and the other two are better for trending markets. I would of course recommend to experiment with this one and see what works best for you.

I have included strong buy and sell signals in addition to normal ones so strong signals are darker in color and normal signals are lighter in color. Buy when the line turns green and sell when it turns red.

Let me know if there are any other indicators or scripts you would like to see me publish!