Weighted Relative Strength Index

٢٤ مايو ٢٠٢٢

WRSI uses 3 different user defined time frames with user defined weight on each time frame to give a final RSI value

Default values:

RSI 1 = 5 minute timeframe with a weightage of 9:14
RSI 2 = 15 minute timeframe with a weightage of 4:14
RSI 1 = 60 minute timeframe with a weightage of 1:14

Works best on a 15 min chart.

Please note this indicator will show exactly same values on all time frame charts so if you are looking at a daily chart you may want to change to 60 min, Daily & Weekly RSI time frame in settings.

The weights used here are basically sqaures of 1,2,& 3, you may choose any numbers that work for you.

The RSI length taken here is 27 (count of nakshatras)
The RSI MA length taken here is 28 (count of nakshatras + Abhijit Nakshatra)

You can obviously change it to what works best for you.