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7925

Rating:

(25)

Published:

2018.09.19 15:13

Updated:

2018.11.23 13:43

Corrected RSX.mq5 (12.75 KB) view

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Theory:

Dr. Alexander Uhl invented a method that he used on to filter the moving average and to check for signals. Originally it was intended to be used on average only. But it turns out that it can be used on some other indicators too.

This indicator:

This indicator is using the "correcting" method and produces a corrected RSX (Relative Strength Quality Index). Even though the RSX is already smooth and the signals are not as much as in "regular" RSI, it seems that the "corrected" RSX can be used in trading.

Usage:

You can use the change of color as signals.

High frequency volatility trader ( EURUSD H1 ONLY)

Expert advisor uses the difference between bar closes and a close moving average to detect unusual activity, it will then buy arbitrary volatility spikes. This is a prototype that I will be expanding on in the future, at the moment the user can input an arbitrary level to buy at. In future developments I plan on building a neural network in the EA that detects and compares volatility levels.

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Corrected RSX - indicator for MetaTrader 5