Zero Lag RSI oscillator is an RSI with a minimum delay in the form of a colored histogram.
It features thirteen configurable parameters:
First smoothing period – primary smoothing period
Second smoothing period – secondary smoothing period
First RSI factor – first calculated RSI ratio
First RSI period – first calculated RSI period
Second RSI factor – second calculated RSI ratio
Second RSI period – second calculated RSI period
Third RSI factor – third calculated RSI ratio
Third RSI period – third calculated RSI period
Fourth RSI factor – fourth calculated RSI ratio
Fourth RSI period – fourth calculated RSI period
Fifth RSI factor – fifth calculated RSI ratio
Fifth RSI period – fifth calculated RSI period
Applied price
If Zero Lag RSI values are above zero and rising, the histogram bars are colored green
If Zero Lag RSI values are above zero and falling, the histogram bars are colored light-green
If Zero Lag RSI values are below zero and falling, the histogram bars are colored red
If Zero Lag RSI values are below zero and rising, the histogram bars are colored light-red
