NRSI Root
NRSI Root is a significant Amibroker AFL tool that computes the Root of the Normalized Relative Strength Index. This indicator refines RSI calculations, allowing traders to grasp the underlying momentum more accurately. Integrating NRSI Root into Amibroker enhances the analysis of market trends, facilitating a deeper understanding of price dynamics.
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// Normalized Price Oscillator AFL by Karthikmarar for the thread "Experiments in Technical Analysis" at Traderji.com
_SECTION_BEGIN("NPO");
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
n=Param("period",60,5,100,1);
J=RSI(15);
np = (j - MA(j,n))/StDev(j,n);
npo=(np+(2*Ref(np,-1))+(2*Ref(np,-2))+Ref(np,-3))/6;
Plot(npo,"Normalized Price",colorWhite,1);
PlotGrid(2,colorRed);
PlotGrid(3,colorYellow);
PlotGrid(-2,colorRed);
PlotGrid(-3,colorYellow);
graphx=10;
PlotGrid(1,colorPink);
PlotGrid(-1,colorPink);
PlotOHLC( npo,npo,1,-1, "", IIf( npo> 1, colorLime ,colorRed), styleCloud | styleClipMinMax, -1, 1);