OPEN-SOURCE SCRIPT
Median Price RSI Deviation
This indicator is a smoothed RSI-based trend filter that combines median price smoothing, customizable moving averages, and standard deviation bands to identify bullish or bearish conditions:
=> It first smooths price using a median filter.
=> Then it calculates RSI on that smoothed price.
=> The RSI is further smoothed using a selectable moving average (e.g., DEMA, EMA).
=> Standard deviation bands are applied around this smoothed RSI.
Signals:
=> A bullish signal is triggered when the upper band exceeds a long threshold (default 50).
=> A bearish signal occurs when the smoothed RSI drops below a short threshold (default 40).
=> It first smooths price using a median filter.
=> Then it calculates RSI on that smoothed price.
=> The RSI is further smoothed using a selectable moving average (e.g., DEMA, EMA).
=> Standard deviation bands are applied around this smoothed RSI.
Signals:
=> A bullish signal is triggered when the upper band exceeds a long threshold (default 50).
=> A bearish signal occurs when the smoothed RSI drops below a short threshold (default 40).
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.