Indicators: Rsi(oma)
Possibilities that we did not have using metatrader 4 ...
Two hours time frame seems to be a "strange" time frame. It seems to be good in almost any case when we are looking for a trend. Here is an example of rsi(oma) using default settings with an addition of a mild (14 period) price smoothing applied to 2 hour time frame. As it is obvious, it seems to be quite good for trend following strategies
As usual, some experimenting is advised, but as a rule of thumb, rsi(oma) works very well with price smoothing/filtering set to periods like in the example above
Interesting will use it for experimenting my Isakas signal trading system as a confirmation buy sell signal.
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Rsi(oma):
Rsi (7 types of RSI) with a lot of additions.
Author: Mladen Rakic