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Published:

2018.09.18 21:36

Cuttlers RSI adaptive EMA - fl.mq5 (11.86 KB) view

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Background :

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

Extension added :

In order to avoid some false signals (since the slope of the Cuttlers' 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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Cuttlers RSI adaptive EMA with floating levels - indicator for MetaTrader 5