In December 2020 issue of TASC, John Ehlers published an indicator called MyRsi with NET (MyRsi with Noise Elimination Technology) in which he uses a sort of Kendall (auto)correlation to filter out signals
The only deviation in this version is that we can use desired prices (instead of using fixed close price)

Recommendations:
MyRsi
MyRsi - by John Ehlers : metatrader 4 version
Market and symbol Information for MT4
A script that displays MarketInfo and SymbolInfo data through a button list built from MarketWatch.
Correlation Calculator Panel
Calculator
Trailing Function
This Is a Normal Trailing Function For All Open Order In MT4.