RSI Laguerre Indicator without Fractal Energy, Red/Green

[Tom in Boston]

@horserider @markos out of curiosity is there a way to overlap the TTM squeeze dots in the middle of this oscillator or would that also be too much of a good thing and considered overkill?

 

[MerryDay]

Have Squeeze Dots, Will Travel
I created this short script to overlay any oscillator w/ squeeze dots. I find them handy to overlay: RSI or MACD or TMO. The list is endless.
Add the below study to your chart, drag it up to share the same box as the oscillator to be overlaid. Remember to place it after the oscillator study so the dots will be laid on top of the oscillator instead of behind. The input field "Line" has to be modified to be equal to the value of the mid-line of the study. So to overlay on top of the RSI oscillator the Line field is equal to 0. Other studies may require it set to 50.
HTH

declare lower ;
# ########################################################
#Squeeze by Mobius with mod by Lar
input Line = 0 ;
def BBHalfWidth = StDev(close, 20);
def KCcalc      = Average(TrueRange(high, close, low),  20);
def KCHalfWidth =  1.5 * KCcalc ;
def SqueezeCalc =  2.0 * BBHalfWidth / KCHalfWidth ;
def SqueezeCalc2  = SqueezeCalc ;
def isSqueezed = SqueezeCalc2 < 1 ;
# ########################################################
# charting & formatting
plot TheSqueeze = if isSqueezed then Line else Double.NaN;
TheSqueeze.SetDefaultColor(color.blue);
TheSqueeze.SetLineWeight(2);
TheSqueeze.SetPaintingStrategy(PaintingStrategy.POINTS);

 

[kibicricket]

@David45 Hey. If you just want to turn off the Fractal Energy, just go to the study and edit it. Change the color of the yellow line or "gamma." Click on the yellow box then click on "more" for color choices. Then go to the HSV tab and change the transparency to 100%. Hope that helps.

 

[BillW]

@MerryDay post #22 a +gem

 

[MagicBlueBalls]

Could someone make a scanner out of this? and a watch colummn? That would be really helpful! Thanks!

 

[MerryDay]

Could someone make a scanner out of this? and a watch colummn? That would be really helpful! Thanks!

scan:
Scan Code: https://tos.mx/bRLjdq Click here for --> Easiest way to load shared links

watchlist column:
https://usethinkscript.com/threads/...energy-for-thinkorswim.116/page-12#post-70907

 

[uTSusr07A]

@horserider Beautiful, that's what I wanted to see. Thank you for helping me.

@David45 Try this indicator out. Remember that you need to watch price action when polarity changes in the middle of the study. It carries little weight when compared to the line making a complete move. This will work on any time frame.

@markos @David45
I'm using RSILaguerre with Fractal energy as intended. Just curious, whats the use-case for just plotting the RSI portion without FractalEnergy/Gamma as requested in this thread.
I plotted both the regular RSI and this version in this thread(without the gamma) on the same 5 min chart and I do see some differences(as in regular RSI was giving faster signals coming out of oversold to upside or out of overbought area to downside) , so curious whats the intention here?. I used the defaults for both the indicators.

I typically use the StochasticSlow for overbought/oversold with 80/20 levels - works great for me..,but just plotted the regular RSI to contrast your version without gamma, out of curiousity!

 

[investorx]

I want a link for the RSILaguerre indicator that I can install in thinkorswim. Thank you.

 

[MerryDay]

I want a link for the RSILaguerre indicator that I can install in thinkorswim. Thank you.

https://usethinkscript.com/threads/...thout-fractal-energy-red-green.511/#post-3944

How to search for answers to any additional questions:
https://usethinkscript.com/threads/search-the-forum.12626/