RSI of alb average - wnz - indicator for MetaTrader 5

RSI that does not use "pure" price for calculation but uses adaptive lookback average filtered price for calculation

Of price filtering for rsi :

The advantage of using the filtered (smoothed) price is that some of the false signals are filtered out at the source itself (by averaging the price) and it the is omitted (the false signal) in the RSI calculation too. Also, since the average is adaptive it implicitly makes the RSI adaptive too

ALB averages that can be used :

• simple moving average
• exponential moving average
• smoothed moving average
• linear weighted moving average
  

Normalized zones :

The zones are added in order to assess a "strength" of the current RSI value and a possible reversal or trend exhaustion

Usage :

Some experimenting with parameters is advised, but the usage of this RSI is the usual : either use the slope or some significant levels crossing for signals