Webby RSI 2.0 For ThinkOrSwim

[RDMercer]

Webby's RSI (Really Simple Indicator) 2.0 or version 5.150 as Mike himself calls it, builds upon the original Webby RSI by changing the way we measure extension from the 21-day exponential moving average.

Instead using the percentage of the low versus the 21-day exponential moving average, version 2 uses a multiple of the securities 50 day ATR (average true range) to determine the extension.

Version 2.0 also comes with some new additions, such as measuring the high vs 21-day exponential moving average when a security is below it, as well as an ATR extension from the 10-day simple moving average that Mike looks to as a guide to take partials.

Here is an open source script of Webbys_RSI Ver 2, or version 5 as Webby calls it, for TradingView by AmphibianTrading.com. If possible could someone allot better at coding v me please turn this into a TOS study / indicator? Here's a link to the website mentioned:
https://www.tradingview.com/script/atuLQ8ZN-Webby-s-RSI-2-0/
Very Much Appreciated!!!

 

[samer800]

Here is an open source script of Webbys_RSI Ver 2, or version 5 as Webby calls it, for TradingView by AmphibianTrading.com. If possible could someone allot better at coding v me please turn this into a TOS study / indicator? Here's a link to the website mentioned:

https://www.tradingview.com/script/atuLQ8ZN-Webby-s-RSI-2-0/

Very Much Appreciated!!!

Here is additional documentation and TV script:

Webby's RSI (Really Simple Indicator) 2.0 or version 5.150 as Mike himself calls it, builds upon the original Webby RSI by changing the way we measure extension from the 21-day exponential moving average.

Instead using the percentage of the low versus the 21-day exponential moving average, version 2 uses a multiple of the securities 50 day ATR (average true range) to determine the extension.

Version 2.0 also comes with some new additions, such as measuring the high vs 21-day exponential moving average when a security is below it, as well as an ATR extension from the 10-day simple moving average that Mike looks to as a guide to take partials.

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © Amphibiantrading

//@version=5
indicator("Webby RSI 2.0")

//constants
EMA21 = ta.ema(close,21)
SMA10 = ta.sma(close,10)

//inputs
atrLen = input.int(50, 'Atr Length')
osLevel = input.int(3, 'Stretched Level')
posCol = input.color(color.green, 'Above 21 Color')
negCol = input.color(color.red, 'Below 21 Color')
maCol = input.color(color.orange, 'Moving Average Extension Color')

//atr
atr = ta.atr(50)

// vs 21 & 10
lowV21 = low - EMA21
highV21 = EMA21 - high
highV10 = high - SMA10

//calculations
rsiPos = lowV21 / atr
rsiNeg = highV21 / atr
smaPos = highV10 / atr

//plots
plot(rsiPos > 0 ? rsiPos : na, 'ATR > 21', posCol, 2, plot.style_histogram)
plot(rsiNeg > 0 ? rsiNeg : na, 'ATR < 21', negCol, 2, plot.style_histogram)
hline(osLevel, 'Extended Level', color.red, hline.style_solid, 2)
plot(smaPos > 0 ? smaPos : na, 'SMA Extension', maCol, 2, plot.style_linebr)

check the below:

#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © Amphibiantrading
#indicator("Webby RSI 2.0")
# Converted by Sam4Cok@Samer800    - 04/2024
Declare Zerobase;
Declare lower;


#//inputs
input fastMovgAvgType = AverageType.SIMPLE;
input fastMovAvgSrc = close;
input fasrMovAvgLength = 10;
input slowMovAvgType = AverageType.EXPONENTIAL;
input slowMovAvgSrc = close;
input slowMovAvgLength = 21;
input atrLength  = 50; #, 'Atr Length')
input StretchedLevel = 3; #, 'Stretched Level')

def na = Double.NaN;
def last = isNaN(Close);
#//constants
def EMA21 = MovingAverage(slowMovAvgType, slowMovAvgSrc, slowMovAvgLength);
def SMA10 = MovingAverage(fastMovgAvgType, fastMovAvgSrc, fasrMovAvgLength);

#//atr
def atr = atr(Length = atrLength);

#// vs 21 & 10
def lowV21  =   low - EMA21;
def highV21 =   EMA21 - high;
def highV10 =   high - SMA10;

#//calculations
def rsiPos = lowV21 / atr;
def rsiNeg = highV21 / atr;
def smaPos = highV10 / atr;

#//plots
plot smaExt = if smaPos > 0 then smaPos else na; # 'SMA Extension'
plot HistUp = if rsiPos > 0 then rsiPos else na; # 'ATR > 21'
plot HistDn = if rsiNeg > 0 then rsiNeg else na; # 'ATR < 21'
plot ExtLvl = if last then na else StretchedLevel;      # 'Extended Level'
smaExt.SetLineWeight(2);
smaExt.SetDefaultColor(Color.ORANGE);
HistUp.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);
HistDn.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);
HistUp.SetDefaultColor(Color.DARK_GREEN);
HistDn.SetDefaultColor(Color.DARK_RED);
ExtLvl.SetStyle(Curve.SHORT_DASH);
ExtLvl.SetDefaultColor(Color.DARK_ORANGE);


#-- END of CODE

 

[RDMercer]

check the below:

#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
#// © Amphibiantrading
#indicator("Webby RSI 2.0")
# Converted by Sam4Cok@Samer800    - 04/2024
Declare Zerobase;
Declare lower;


#//inputs
input fastMovgAvgType = AverageType.SIMPLE;
input fastMovAvgSrc = close;
input fasrMovAvgLength = 10;
input slowMovAvgType = AverageType.EXPONENTIAL;
input slowMovAvgSrc = close;
input slowMovAvgLength = 21;
input atrLength  = 50; #, 'Atr Length')
input StretchedLevel = 3; #, 'Stretched Level')

def na = Double.NaN;
def last = isNaN(Close);
#//constants
def EMA21 = MovingAverage(slowMovAvgType, slowMovAvgSrc, slowMovAvgLength);
def SMA10 = MovingAverage(fastMovgAvgType, fastMovAvgSrc, fasrMovAvgLength);

#//atr
def atr = atr(Length = atrLength);

#// vs 21 & 10
def lowV21  =   low - EMA21;
def highV21 =   EMA21 - high;
def highV10 =   high - SMA10;

#//calculations
def rsiPos = lowV21 / atr;
def rsiNeg = highV21 / atr;
def smaPos = highV10 / atr;

#//plots
plot smaExt = if smaPos > 0 then smaPos else na; # 'SMA Extension'
plot HistUp = if rsiPos > 0 then rsiPos else na; # 'ATR > 21'
plot HistDn = if rsiNeg > 0 then rsiNeg else na; # 'ATR < 21'
plot ExtLvl = if last then na else StretchedLevel;      # 'Extended Level'
smaExt.SetLineWeight(2);
smaExt.SetDefaultColor(Color.ORANGE);
HistUp.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);
HistDn.SetPaintingStrategy(PaintingStrategy.SQUARED_HISTOGRAM);
HistUp.SetDefaultColor(Color.DARK_GREEN);
HistDn.SetDefaultColor(Color.DARK_RED);
ExtLvl.SetStyle(Curve.SHORT_DASH);
ExtLvl.SetDefaultColor(Color.DARK_ORANGE);


#-- END of CODE

Please forgive my criticism as I'm definitely not throwing rocks! However, the study plot seems off; specifically, the histogram study 'x' axis is not viewable? Here's a partial chart screenshot of NVO. Top is price plot; Center plot v Webbys_v2; lower study is a 4 year earlier version of Webbys_RSI. Lastly, attached is a screenshot of TradingView example; please note the histogram scale. Any way to fix the issue is of tremendous help.

 

[samer800]

Please forgive my criticism as I'm definitely not throwing rocks! However, the study plot seems off; specifically, the histogram study 'x' axis is not viewable? Here's a partial chart screenshot of NVO. Top is price plot; Center plot v Webbys_v2; lower study is a 4 year earlier version of Webbys_RSI. Lastly, attached is a screenshot of TradingView example; please note the histogram scale. Any way to fix the issue is of tremendous help.

View attachment 21690View attachment 21691

Cyan color line in the center plot not part of the script. Not sure how appears in your chart. Copy the code again and paste then try. or share a screenshot of the indicator settings to get better understanding of the issue.