RSI(14) On the Weekly This indicator is custom coded ; factor | LibreCharts

RSI(14) On the Weekly

This indicator is custom coded ; factors in the EMA of the Rate of Change of RSI values with two diff lookbacks, creating a 'fast' and 'slow' moving average ; when fast > slow , line green / vice versa = red

Purpose of doing this was to pull out additional info from the RSI. There's a difference between an RSI that takes two weeks to climb from 40 to 80 & one that climbs those values in two days ; hence, I added in a augmentation that accounts for the Rate of Change of the RSI to provide us with a more acute (sensitive) reading from the RSI w/o skewing the actual values