Thanks for re-posting it Jeff. I've cleaned the topic and updated your original post with the new one as this one is working.ionone wrote: Sun Mar 27, 2022 1:57 am RSI OTT
I can't find my error...
this looks like a killer indi
RSI OTT is Anıl Özekşi's latest derived version of Optimized Trend Tracker on RSI Oscillator.
He can solve the fake signals of RSI Oscillator by adopting OTT on the indicator.
Those who don't know OTT can search in indicators.
Interesting, I've just been reading up on it and OTT stands for Optimized Trend Tracker.
After comparing it to the tradingview one, this MT4 one seems a bit harder to decipher as the lines are a bit squished together.
I wonder if it's the same? Or is your code using Chande's CMO for calculation "somewhere"?
Maybe Mrtools can take a look at it, too, if he's free later. The code on TV is:
Code: Select all
//@version=4
//created by : @Anil_Ozeksi
//developer : @Anil_Ozeksi
//author : @mr. fofenks
study("RISOTTO",overlay=false, precision=2)
src = close
//RSI
x1 = input(defval = 100 , title = "VAR RSI Period" , type = input.integer, minval = 1 ,step = 1 , group = "VAR RSI")
//OTT
x2 = input(defval = 50 , title = "RISOTTO Period" , type = input.integer, minval = 1 ,step = 1 , group = "RISOTTO")
x3 = input(defval = 0.2 , title = "RISOTTO Percent" , type = input.float , minval = 0 ,step = 0.05 , group = "RISOTTO")
//Signals
showsignalsc = input( defval=false , title = "Show RSI/OTT Crossing Signals?", type=input.bool)
OTT_Func(src,length, percent)=>
valpha = 2/(length+1)
vud1 = src>src[1] ? src-src[1] : 0
vdd1 = src<src[1] ? src[1]-src : 0
vUD = sum(vud1,9)
vDD = sum(vdd1,9)
vCMO = nz((vUD-vDD)/(vUD+vDD))
VAR = 0.0
VAR := nz(valpha*abs(vCMO)*src)+(1-valpha*abs(vCMO))*nz(VAR[1])
fark = VAR*percent*0.01//multi*atr //
longStop = VAR - fark
longStopPrev = nz(longStop[1], longStop)
longStop := VAR > longStopPrev ? max(longStop, longStopPrev) : longStop
shortStop = VAR + fark
shortStopPrev = nz(shortStop[1], shortStop)
shortStop := VAR < shortStopPrev ? min(shortStop, shortStopPrev) : shortStop
dir = 1
dir := nz(dir[1], dir)
dir := dir == -1 and VAR > shortStopPrev ? 1 : dir == 1 and VAR < longStopPrev ? -1 : dir
MT = dir==1 ? longStop: shortStop
OTT = VAR>MT ? MT*(200+percent)/200 : MT*(200-percent)/200
[VAR,OTT]
rsi = rsi(src,x1)
[VRSI,_] = OTT_Func(rsi, x2, 1)
[_,RISOTTO] = OTT_Func(VRSI+1000, 2, x3)
buySignalc = crossover(VRSI+1000, RISOTTO[2])
sellSignallc = crossunder(VRSI+1000, RISOTTO[2])
plot(VRSI+1000 , color=#0585E1 , linewidth=2, title="VAR RSI" , display = display.all)
plot(nz(RISOTTO[2]) , color=#B800D9 , linewidth=2, title="RISOTTO" , display = display.all)
plotshape(buySignalc and showsignalsc ? RISOTTO*0.995 : na, title="Buy" , text="Buy" , location=location.absolute, style=shape.labelup , size=size.tiny, color=color.green , textcolor=color.white)
plotshape(sellSignallc and showsignalsc ? RISOTTO*1.005 : na, title="Sell" , text="Sell" , location=location.absolute, style=shape.labeldown , size=size.tiny, color=color.red , textcolor=color.white)
//alertcondition(cross(src, OTT[2]), title="Price Cross Alert", message="OTT - Price Crossing!")
//alertcondition(crossover(src, OTT[2]), title="Price Crossover Alarm", message="PRICE OVER OTT - BUY SIGNAL!")
//alertcondition(crossunder(src, OTT[2]), title="Price Crossunder Alarm", message="PRICE UNDER OTT - SELL SIGNAL!")
