Cultler RSI Indicator

Cutlers' RSI is a variation of the original relative strength index developed by Welles Wilder.
This variation uses a simple moving average instead of an exponential average (in the original formula).

As with the classic RSI, the Cutler RSI is a momentum oscillator that is mainly used to indentify overbought and oversold conditions by looking at whether the indicator's value is above or below specific key levels (usually the 30 and 70 levels) are used.

Note: As you probably know the RSI values range from 0 to 100.

Here is for example how to calculate the Cutlers' RSI of a stock:

a = CultlerRSI(close, 14);
plot(a, "Cutlers' RSI");

In a trading system, you can type the following to enter long a position if the Cutlers' RSI is oversold

a = CultlerRSI(close, 14);
buy = a < 30;

To enter long when the Cutlers' RSI crosses below the 30 threshold, type:

a = CultlerRSI(close, 14);
buy = cross(30, a);

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