Indicators: Dsl - RSI of average
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Dsl - RSI of average:
This indicator is using filtered prices for RSI (instead of using "raw" prices) and is using Discontinued Signal Line for trend assessment (instead of using slope or fixed levels).
Price filtering prior to RSI calculation helps in making less false signals without adding significant lag.
Discontinued Signal Lines are helping in making the significant levels a sort of dynamic levels - instead of using fixed levels, indicator is adjusting itself to market (and RSI) changes - thus making it a sort of an adaptive indicator (i.e. instead of adapting the RSI value, significant levels are adapted, and that effectively makes this indicator adaptive).
PS: usual set of built in averages is supported for prices filtering. Setting the average period to 1 makes it equal to "regular" RSI.
Author: Mladen Rakic