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2008.02.26 08:58
Indicators

RSI DeMarker Super Position - indicator for MetaTrader 4

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22318
Rating:
votes: 7

As a rule it takes a lot of time to switch between periods and indicator parameters for comparing their behavior and detecting a true indicator development dynamics.

The indicator was developed after the working area was filled by a set of standard indicators with different parameters.

What is calculated:

  • four RSI lines with different periods (the period change step is specified in the indicator parameters) constitute a weighted average of the indicator upon RSI;
  • four DeMarker lines with different periods (the period change step is specified in the indicator parameters) constitute a weighted average of the indicator upon DeMarker;
  • because of the difference of RSI and DeMarker dimensions, the values of averages are reduced to a common way of displaying;
  • the moving average upon RSI and DeMarker constitute a super position upon two indicators;
  • two MA lines are attached to the super position line for an easier interpretation of values;
  • for a better visualization, a histogram of difference between RSI and DeMarker weighted averages is shown.

The result is: one indicator contains two values of different periods and different dynamics.

RSI and DeMarker behave differently not only in different situations on a chart, abut also towards themselves with different indicator periods. I think, it is useful to see this difference.

In addition to this, a smoothing of the superposition line can be introduced.

 

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/7741

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