New indicator was published on CodeBase -
Rocket RSI - indicator for MetaTrader 5
As described in the May 2018 edition of Technical Analysis of Stocks & Commodities by John F. Ehlers. This indicators is an enhancement to the traditional RSI for detecting cyclical reverses.
How to use this indicator in practice:
RSI Candles - indicator for MetaTrader 5
One possible way of normalizing prices into a known bound.
This is a RSI of High, Low, Open and Close displayed as color candles in it's own sub-window. The interesting is that the prices are reflected in a very close manner to a known 0 to 100 range and that opens a lot of new possibilities.
RSI Candles - Smoothed - indicator for MetaTrader 5
Combination of 4 RSI values (RSI of High, Low, Open and Close) displayed as candles.
This version has additional option to enable prices pre-smoothing prior to be used in calculation, which makes it an RSI-of-MA combination. To avoid prices pre-smoothing, use smoothing period that is less than or equal to 1.
Wow, this Indicator is amazing, could they please be replicated or are there available in MT4 version.
Much appreciate, thanks.
I did not find for MT4 ..
Alright thank, It will be awesome to have it in MT4 also, although everyone need to migrate and get used to MT5 which has more functionalities. I still like to test any indicators in both MT5 and MT4.
Good article was published -
Universal RSI indicator for working in two directions simultaneously
When developing trading algorithms, we almost always encounter a problem: how to determine where a trend/flat begins and ends? It is difficult to find a clear-cut solution. This goal seems achievable by combining the both trend-based and flat-based strategies in one algorithm. In this article, we will create a universal indicator that will combine signals for different types of strategies. We will try to simplify the generation of trade signals in an expert as much as possible. An example of combining several indicators in one will be given. This will be done using object-oriented programming, with each indicator or its part being implemented in the form of a class included in the main program file.
RSISignal - indicator for MetaTrader 4
Why posting that in a RSI thread ?
And an other time please post a smaller image, I am still able to see it.
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