In January 2022 edition of TASC Vitaly Apirine introduced his . A concept not entirely new, as Tushar Chande used a similar calculation for his moving average. Both are based on the idea to change length depending on the absolute value, so the moving average would speed up then is going up or down from the center value (when there is a significant directional price movement), and slow down when returns to the center value (when there is a neutral or sideways movement). That way responsiveness would increase where it matters most, but decrease where there is a high probability of whipsaw.
There are only two main differences between and RS EMA:
- internal smoothing - uses , as Chande's CMO is an with ; RS uses
- Change direction - sets the fastest length; RS sets the slowest length
In this script, I try to get the best of all these approaches and present to you Super Smoother. It uses RS algorithm to calculate the SuperSmoother length. Unlike the original RS algorithm, that has an abstract "multiplier" setting to scale the period variance (without this parameter, would only allow it to speed up twice; Vitaly Apirine sets the multiplier to 10 by default), my implementation has explicit lower bound setting, so you can specify the exact range of calculated length.
- Lower Bound - fastest SuperSmoother length (when is +100 or -100)
- Upper Bound - slowest SuperSmoother length (when is 0)
- RSI Length - underlying length. Unlike the original that uses RMA as an internal smoothing algorithm, Vitaly Apirine uses , which is approximately twice as fast (that is needed because he uses a generally long length and RMA would be too slow for this). It is the same as the Upper Bound by default (0), as in the original implementation
This script is just an interface for my public libraries. Check them out for more information.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.