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Adaptive RSI | Lyro RS

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The Adaptive RSI | 𝓛𝔂𝓻𝓸 𝓡𝓢 indicator enhances the traditional Relative Strength Index (RSI) by integrating adaptive smoothing techniques and dynamic bands. This design aims to provide traders with a nuanced view of market momentum, highlighting potential trend shifts and overbought or oversold conditions.


Key Features
  • Adaptive RSI Calculation: Combines fast and slow Exponential Moving Averages (EMAs) of the RSI to capture momentum shifts effectively.
  • Dynamic Bands: Utilizes a smoothed standard deviation approach to create upper and lower bands around the adaptive RSI, aiding in identifying extreme market conditions.
  • Signal Line: An additional EMA of the adaptive RSI serves as a signal line, assisting in confirming trend directions.



Customizable Color Schemes: Offers multiple predefined color palettes, including "Classic," "Mystic," "Accented," and "Royal," with an option for users to define custom colors for bullish and bearish signals.


How It Works
  • Adaptive RSI Computation: Calculates the difference between fast and slow EMAs of the RSI, producing a responsive oscillator that adapts to market momentum.
  • Band Formation: Applies a smoothing factor to the standard deviation of the adaptive RSI, generating dynamic upper and lower bands that adjust to market volatility.
  • Signal Line Generation: Computes an EMA of the adaptive RSI to act as a signal line, providing additional confirmation for potential entries or exits.
  • Visualization: Plots the adaptive RSI as color-coded columns, with colors indicating bullish or bearish momentum. The dynamic bands are filled to visually represent overbought and oversold zones.


How to Use
  1. Identify Momentum Shifts: Observe crossovers between the adaptive RSI and the signal line to detect potential changes in trend direction.
  2. Spot Overbought/Oversold Conditions: Monitor when the adaptive RSI approaches or breaches the dynamic bands, signaling possible market extremes.
  3. Customize Visuals: Select from predefined color palettes or define custom colors to align the indicator's appearance with personal preferences or chart themes.



Customization Options
  • RSI and EMA Lengths: Adjust the lengths of the RSI, fast EMA, slow EMA, and signal EMA to fine-tune the indicator's sensitivity.
  • Band Settings: Modify the band length, multiplier, and smoothing factor to control the responsiveness and width of the dynamic bands.
  • Color Schemes: Choose from predefined color modes or enable custom color settings to personalize the indicator's appearance.


⚠️ DISCLAIMER ⚠️: This indicator alone is not reliable and should be combined with other indicator(s) for a stronger signal.
Sürüm Notları
Calculation Update, input updates & more!
Sürüm Notları
Bug Fixes.
Sürüm Notları
String Option added: Rotate between old and new calculation methods, and old and new stdev bands calculations!

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.