Indicators: Synthetic RSI

Automated-Trading 2018.04.16 11:22

The idea of this indicator is simple:

Instead of using one RSI, the indicator is using 3 instances of RSI.
Those 3 instances of RSI are then used to calculate the "synthetic" value (that is not an average of the 3 since the calculation differs from an average).

As an addition, the prices are pre-filtered prior to be used in RSI calculation. If you wish to omit that part, simply set all the EMA periods to be less than or equal to 1.

Author: Mladen Rakic

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