OPEN-SOURCE SCRIPT
RSI with 2-Pole Filter
A momentum indicator that tells you if a stock is overbought or oversold.
RSI goes between 0 and 100.
70 = overbought (might fall)
<30 = oversold (might rise)
It often looks jagged or choppy on volatile days.
Think of this filter like a momentum smoother:
It still follows RSI closely,
But it doesn’t react to every little jiggle in price,
Which helps avoid false signals.
it keeps track of:
The current RSI,
The last 2 RSI values (inputs), and
The last 2 outputs (filtered RSIs).
It uses feedback to shape the output based on previous values, making it smoother than a simple moving average.
RSI goes between 0 and 100.
70 = overbought (might fall)
<30 = oversold (might rise)
It often looks jagged or choppy on volatile days.
Think of this filter like a momentum smoother:
It still follows RSI closely,
But it doesn’t react to every little jiggle in price,
Which helps avoid false signals.
it keeps track of:
The current RSI,
The last 2 RSI values (inputs), and
The last 2 outputs (filtered RSIs).
It uses feedback to shape the output based on previous values, making it smoother than a simple moving average.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.