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Indicators

Stochastic RSI - indicator for MetaTrader 5

Witold Wozniak | English Русский 中文 Español Deutsch 日本語 Português

Published by:
Nikolay Kositsin
Views:
17554
Rating:
votes: 17
Published:
2011.11.25 12:18
Updated:
2016.11.22 07:32
\MQL5\Include\

Real author:

Witold Wozniak

Stochastic RSI is a standard Stochastic oscillator, the values of which are calculated not from a price series but from RSI technical indicator values.

Standard RSI may not show market cycles or volatility changes. In case the market enters trend state, RSI often is not able to reach the appropriate level that can trigger position opening signal according to the trend direction. Implementation of Stochastic oscillator to RSI creates a dynamic indicator that better corresponds to its current volatility.

The indicator is inspired by John Ehlers' article "Using The Fisher Transform" published in November 2002 in the "Technical Analysis Of Stock & Commodities" magazine. The simplest method of working with this indicator is completely equivalent to Stochastic oscillator or RSI.

The indicator uses SmoothAlgorithms.mqh library classes (must be placed to the terminal_data_folder\MQL5\Include). Working with the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

Stochastic RSI

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/541

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