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Indicators

RSI adaptive EMA - floating levels - indicator for MetaTrader 5

Mladen Rakic

Views:
720
Rating:
votes: 9
Published:
2018.09.12 10:54

Background :

This indicator is an extended version of the RSI adaptive EMA indicator (originally published here : RSI adaptive EMA )

Extension added :

In order to avoid some false signals (since the slope of the RSI adaptive EMA can change too many times in ranging market) this version is adding floating levels as a criteria for trend change. You have an option to chose between two color changing modes :

  • color change when outer levels are crossed
  • color change when middle level (a sort of a "zero line") is crossed

Usage :

Use color change as signal,. Some experimenting with levels is advised prior to usage in live trading

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