A Multi-Timeframe RSI with Selectable Smoothing and Bollinger Band Levels

Summary

This indicator modifies the Relative Strength Index so it can be displayed using a different chart timeframe and lets users choose among ten smoothing methods for both the RSI and its signal line. The choices range from standard simple and exponential averages to adaptive or specialized approaches such as JMA, VIDYA, and Kaufman's adaptive moving average. The description notes that the phase parameter has a different interpretation for some methods, so settings are not interchangeable.

Overbought and oversold levels are based on a dynamically changing Bollinger Band variant, which the author says is intended to make those levels more accurate. Different smoothing choices may require different interpretations of signals. The document describes indicator features and implementation dependencies, but supplies no trading rules, empirical comparison, or performance evidence. It therefore does not establish that any smoothing option or band-based threshold improves results, and users would need to evaluate settings for their own instruments and timeframes.

Key ideas

• The indicator adapts RSI for display on a chart with another timeframe.
• Users can select from ten smoothing algorithms for the RSI and its signal line.
• The phase setting has method-specific meanings, including for several adaptive methods.
• Dynamic Bollinger Band levels define overbought and oversold regions.
• The description provides no comparative tests or evidence of trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.