Some minor adjustments:
Essentially, it's a standard cyclical rating that takes into account the results of all stages in which the player participated or did not participate.
Regarding this: I don't think that combining the "player's result" and their "activity" into one number is the right solution! It's better to separate it into two ratings: one showing the player's average result, and the other showing their activity... Combining everything into one number won't tell us anything. That is, it might show us the leader, but there will be complete confusion regarding the rest because it will be unclear whether the player isn't playing, or is playing but poorly, or something else.
I dare to give some advice: take a piece of graph paper, a pen, and experiment with a dozen abstract characters in ten abstract tournaments... And then tell us what observations you made regarding the accounting of their results... It's a very interesting exercise, I assure you... :) Simply, so many options have already been calculated manually, in Excel, on graphs, and with other clever methods that I don't think you will be able to invent anything new... What has been proposed is the best option so far, taking into account the interests of all players...
I think it shouldn't be introduced yet.
