Wulong made it an option to use slope coloring or signal line crossing coloring, also added the extra price options and more user friendly stuff where I could.
Hey, thanks Mrtools, it already looks very good on your chart ! Merci for the extras ...
And I like the band thing too, will play tomorrow with it.
Wulong if you downloaded the indicator right after I posted it might want to redownload it, found an error in it, and reposted the fixed version
Ok Mrtools, THANKS, for fixing it !
As a consequence of this post : https://www.mql5.com/en/forum/177358
This one is upgraded, updated and more options added to it. Also, it is suing a kind of a "generic" RSI. Instead of using one RSI for calculation it is using two RSIs : rsi of high and rsi of low. The value displayed is an average of those 2 (that way it becomes a generic - it is not the same as if one would use rsi of median price). This version uses the correct parabolic function (it can be used as a template how to use the function on any value) and is "abusing" almost all that that function can output as a result. Added alerts too. Also, it is faster (it calculates only the necessary number of changed bars, for one)
Is there a mtf version of it?
I have a question regarding this indicator.
How did you calculate the factor to the RSI length?
If you mean the factors 1 to 5, it does not calculate it
Those are parameters that are determined by the user, and the default values used are values that the original indicator had. Why did it have those values? Probably because someone was experimenting with those values and found out that those fit the best. But that does not mean that the factors should not be changed. Some experimenting is always good
I just thought there was a "Formula" to calculate this sort of factors.
Maybe it should always add up to 1