Indicator Sylvain Vervoort RSI inverse fisher transform built on Sylvain Vervoort Rainbow Moving Average
It has five adjustable parameters:
- SVRMA period - Rainbow Moving Average calculation period
- RSI period - RSI calculation period
- MA period - smoothing period
- Overbought - overbought level
- Oversold - oversold level
Calculations:
SVRSI = ((Pow(2.71828183,2 * ZeroLagEMA)-1.0) / (Pow(2.71828183,2 * ZeroLagEMA)+1.0) + 1.0) * 50.0
where:
ZeroLagEMA = SmMA1 + (SmMA1 - SmMA2)
SmMA1 = EMA(RSI, MA period)
SmMA2 = EMA(SmMA1, MA period)
RSI = 0.1 * (TmpRSI - 50.0)
TmpRSI = RSI(RMA, RSI period)
RMA = Rainbow Moving Average(SVRMA period)
No need to have indicator Rainbow Moving Average in the terminal, it is calculated independently