Pro RSI Mean-Deviation Sigmoid Oscillator

Pro RSI Mean-Deviation Sigmoid Oscillator (Z-Score Normalized) fro TV platform
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Little enhanced MT4 version---

What is the Pro RSI Mean-Deviation indicator?

The Pro RSI Mean-Deviation Sigmoid Oscillator (Z-Score Normalized) converts the current RSI's deviation from its smoothed EMA into a statistically normalized value using Z-score. It then applies a Sigmoid function to create a smooth oscillator ranging from 0 to 100. This design improves its ability to filter out whipsaws (false movements) while remaining responsive to genuine momentum changes.

Additionally, it incorporates RSI Bollinger Bands for a dynamic view of volatility and a momentum histogram for visual feedback on strength.

Bascially, it functions like a "smarter" and less noisy RSI" that adjusts to market volatility, giving clearer readings for overbought/oversold conditions as well as momentum.

PS: The Sigmoid function will create a more "S-curve" response which is gradual at first, then sharp at extremes. Lowering the Sigmoid k produces even "smoother" signals.