Watch how to download trading robots for free
Find us on Telegram!
Join our fan page
Interesting script?
So post a link to it -
let others appraise it
You liked the script? Try it in the MetaTrader 5 terminal
Indicators

RSI adaptive EMA ribbon - indicator for MetaTrader 5

Views:
5255
Rating:
(16)
Published:
2018.09.11 13:09
Updated:
2018.09.11 14:05
Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

The background :

This indicator is using the RSI adaptive EMA (originally published here : RSI adaptive EMA) to assess the market condition. Even though it can be translated (and was done so) to a MACD, the on-chart representation of what is used for MACD calculation can help in easier spotting of possible trend changes

Of parameters :

Just the usual parameters : fast rsi period , slow rsi period and the price used. Take care that the fast is faster than the slow period - since then the results can be unpredictable (I did not add a code to check that - the assumption is that the user can do whatever she/he can do as a part of experimenting)

Usage :

Simple color change of the two values indicates a possible start of a new trend and can be used as a signal


MACD of RSI adaptive EMA MACD of RSI adaptive EMA

MACD of RSI adaptive EMA

RSI adaptive EMA RSI adaptive EMA

RSI adaptive EMA

RSI adaptive EMA - floating levels RSI adaptive EMA - floating levels

RSI adaptive EMA - floating levels

Range Action Verification Index - extended Range Action Verification Index - extended

Range Action Verification Index - extended