Indicators: Synthetic smoothed RSI

[Automated-Trading]

Synthetic smoothed RSI:

The idea of this indicator is the same as for the synthetic RSI:

• 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.

The difference (compared to Synthetic RSI) is that this version is using Ehlers smoothed RSI in calculation instead of using "regular" RSI and that makes the resulting synthetic RSI even smoother.

Author: Mladen Rakic