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2016.12.21 08:16

Corr RSI - indicator for MetaTrader 5

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votes: 18
Corr_RSI.mq5 (34.66 KB)view
This is the "corrected" version of RSI. It can calculate the usual 7 types of RSI :
  • Cuttler's RSI
  • Ehlers' smoothed RSI
  • Harris' RSI
  • Rapid RSI
  • RSI
  • RSX
  • Slow RSI

You can turn the "correcting" on or off (using the "correction" period). Also, 4 types of color/trend/state changes are available. It is similar to step rsi but it should not be mixed with it. They are completely different indicators. A usual, you can turn the "correction" on and off and you can chose the criteria for "trend" or over bought / over sold finding out based on:

  • on slope change
  • on outer levels cross
  • on middle level ("fake zero line") cross
  • or on original rsi value cross (in which case rsi is used as a sort of a signal line)

The usual parameters experimenting is advised. The above example on a larger scale:

Corr average Corr average

Average using dr. Andreas Uhl's "correction method.

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