Indicators: Trend Strength - Jurik smoothed RSI
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Trend Strength - Jurik smoothed RSI:
Trend strength assessment based on Jurik smoothed RSI.
The purpose of the "trend strength" is to try to determine when the change of some other indicator is significant enough to make it a trend. Usually the "trend strength" indicator is using smoothed RSI.
This version is using Jurik smoothed RSI. Since that type of smoothing is very responsive to values changes and still produces very smooth results, the produced RSI is a very good basis to be used in the trend strength indicator calculation and produces entry points without too much false signals.
Author: Mladen Rakic