The Kairi Relative Index is a metric that traders use to to time their purchases of a stock, or to understand trends in the stock market.
A momentum oscillator measures the strength of the up or down movement of price instead of the actual price level. The harder and faster a tradable's price falls, the bigger the oscillator move. The same goes for an upward move. Once the price move slows down, so does the momentum oscillator.
# Kairi Relative Index Leading Indicator # Assembled by BenTen at useThinkScript.com # Converted from https://www.tradingview.com/script/2viDaDnF-Kairi-Relative-Index/ declare lower; input length = 100; input src = close; def sma = simpleMovingAvg(src, length); def kri = 100 * (src - sma) / sma; plot ZeroLine = 0; plot line = kri; line.AssignValueColor(if kri > 0 then color.green else color.red);
A few resources to help you understand more about this indicator: