OCPriceRSI
RSI calculated using the average of Open and Close prices to reduce noise.
Usage
Use to measure momentum on the open-to-close price differential rather than close-to-close, capturing intraday directional strength more directly.
Background
Ehlers computes this RSI variant on the difference between the open and close price of each bar rather than on the closing price series. The open-close differential captures the net directional pressure within each bar, producing a momentum oscillator more sensitive to intraday commitment than standard RSI.
Parameters
period(default: 14): RSI period
Formula
[ Input = \frac{Open + Close}{2} ] [ RSI = \text{Wilder's RSI}(Input, Period) ]