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Stochastic and RVI (Relative Vigor Index) - both indicators measure overbought and oversold area of the market movement.
This indicator combines them both in one single indicator - Stochastic of Relative Vigor Index.
- It emphasizes the overbought and oversold regions.
- It produces relatively small number of signals hence enabling less false signals.
Get M1 OHLC data for MetaTrader 4 backtesting
Usually most brokers do not provide M1 data over 3 months in MetaTrader 4, but they provide M1 data over 3 years in MT5. So we can use this tool to obtain the M1 data in MetaTrader 5 tester and save the data into .hst file for MetaTrader 4 backtesting.
Inverse Fisher RVI
The Inverse Fisher Transform normalizes the values in the desired range (-1 to +1 in this case) which helps in assessing the overbought and oversold market conditions.
DSL - DEMA MACD
Variation of a long known and useful MACD indicator using DEMA (Double Exponential Moving Average) instead of using EMA (Exponential Moving Average) for MACD calculation, and DSL (Discontinued Signal Lines) and instead of using one signal line uses two. That way it sort of introduces levels as well as signal lines and, judging from tests, it seems to be better in avoiding false signals and it can be used in (short term) reversals detection.
DSL - TEMA MACD
Variation of a long known and useful MACD indicator using TEMA (Triple Exponential Moving Average) instead of using EMA (Exponential Moving Average) for MACD calculation, and DSL (Discontinued Signal Lines) and instead of using one signal line uses two.