This indicator is a modified version of the Relative Strength Index (RSI) that can be placed on a chart having another timeframe. It also allows users to change RSI and the signal line's smoothing algorithms.
The main difference of this indicator from its standard equivalent is the possibility to change the smoothing algorithm by selecting an appropriate one out of ten algorithms present:
It should be noted that Phase parameter has completely different meaning for different smoothing algorithms.
It is quite natural that some smoothing variants require some different interpretation of the indicator signals. Oversold/overbought levels are indicated in dynamically changing variant based on the Bollinger Bands to provide more accurate work with them.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Place XRSX_BB indicator to the terminal_folder\MQL5\Indicators.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1003
XLineRegression creates levels based on the linear regression algorithm.RSI-Crossover_Alert
The simplest semaphore indicator having alerts and providing the possibility to send signals to a mailbox and a smartphone.