Smoothed RSI Candles from High, Low, Open, and Close

Summary

This indicator presents four RSI calculations together as a candle: one each for the source price’s high, low, open, and close. That format lets a chart reader compare the range and direction of the four RSI values within each bar, rather than viewing only a single RSI line.

An optional preprocessing step smooths the price series before the RSI calculations. With that enabled, the display represents RSI values calculated from moving-average-smoothed prices; setting the smoothing period to one or less avoids this preprocessing. The description gives no formula details, trading rules, parameter guidance, or performance evidence. It therefore explains the indicator’s inputs and display concept, but does not establish that smoothing improves signals or that the candle view has predictive value.

Key ideas

• The indicator displays RSI values calculated from high, low, open, and close prices as a candle.
• Optional price smoothing is applied before the RSI calculations.
• A smoothing period of one or less disables the preprocessing step.
• The description supplies no trading rules or evidence of predictive performance.

Tags

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