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Published:

2018.04.18 11:14

Schaff tcd RSX.mq5 (15.75 KB) view

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As a logical step to filter out more the possible false signals, this variation of Schaff TCD RSI is using RSX (which is a smoother RSI than the "regular" RSI) to produce a smoother result.

The extremes (0 and 100) are reached faster for this variation of the indicator - when compared to the "regular" version. That is a result of how RSX is calculated. That might help in quick assessment of possible short term trend reversal(s)

Schaff TCD RSI

Schaff Trend Convergence Divergence indicator has the benefit of putting the Schaff Trend CD on a scale of zero to 100, making it easier to identify potential overbought and oversold levels in a currency trend and is using RSI for a final calculation.

Schaff Trend RSX

Schaff Trend RSX is "a smoother RSI" without a lag, in this version RSX is calculated instead of RSI. That makes the slope much smoother and produces significantly less color (slope) changes.

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Schaff TCD RSX - indicator for MetaTrader 5