Theory:
If you're familiar with the RSI, you know how powerful it can be. This indicator takes it a step further by incorporating double smoothed Wilder's EMA into the mix. Essentially, it’s an evolution of the RSI of moving averages (Rsi(oma)). What’s cool about this version is that it allows you to use different types of averages—like SMA, EMA, SMMA, or LWMA—instead of just the raw price. This means you can fine-tune your RSI calculation for better insights.
Usage:
You can use this indicator just like any regular RSI of moving averages (RSI(oma)). It's straightforward and can help you spot trends more effectively.
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