The RSING indicator was created by Alon Horesh (Stocks & Commodities
March 2021 pg
11) and this aims to be a better version of rsi
that adapts to volume
as well as a focus on overall strength. This is trying to fix the issues with the traditional RSI
with a lack of volume
and the issue where you could have the indicator stay in overbought or oversold territory but the upward or downward momentum continues. This indicator takes ratios of the current volume
to it's moving average, the overall momentum of the stock, and the current range in comparison to the std deviation of it's past range and multiplies them all together to create this new indicator. I smooth it with a moving average for easier to read buy and sell signals. I have included strong buy and sell signals as darker colors and normal buy and sell signals as lighter colors. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!