I've been playing with placing average on RSI w/small period for some time (years:)...is there a way to smooth it even further, even if it repaints a little, so it will show cycles clearly, resembling Bezier curve visually?...
Also...I have a question regarding indicator attached...Why it behaves perfectly in visual tester, but not so much in real life?...if it uses different time frames for calculations...can it be changed so that it uses RSI of different periods instead?...Thank you...
Like this? :):)
It is using centered triangular moving average for averaging. It will recalculate the TmaHalfPeriod bars (as all centered averages) but it is smooth and I think you can use it for the purpose you stated (bearing in mind the recalculation, of course. I am not calling it a repainting since repainting is an error in coding and this is simply a normal centered triangular moving average). But remved alerts since in the recalculating indicators alert are more or less meaningless (recalculating indicators should be used for discretional trading)
Thank you...will check it after work...looking at the picture, it does not select cycles correctly, i.e. my eyes do a better job (in retrospect unfortunately:)...
Any take on why indicator from previous post malfunctions?...or is it "dead on arrival", like zigzag?...
Multi time frame indicator or eas can not be backtested properly. Due to how metatrader does the backtest, when an indicator or an EA requests data from "other" time frame (different from the tested time frame) it uses real data that already has values in future to the backtested time. So, they "know the future" in backtest, while in real time they can not know - that is the reason for that malfunction
Got it...thank you...can this indicator be changed as to take values from different periods of an RSI, rather from other time frames?...will it make this indicator more reliable?
It does not work for RSI (even fr indicators like MA it is just an approximation, but for RSI it is a very bad approximation) See the example : red is 1 hour 7 period RSI, blue is 28 period 15 minute rsi : values of 15 minute don't even get close to real values of the higher time frame
I understand...but in the case of this particular indicator...would be interesting what it will look like, if values are just taken from different periods, like RSI 2, RSI 14...not time periods, just a different number of bars in calculations...or may be it's not going to work...
Did you see this post : https://www.mql5.com/en/forum/178733/page14
It might explain a bit more on how rsi "behaves" and might be the info you are looking for
Can something like that-moving average, be done on Stochastic...or it is same as RSI?
I found this decompiled SAR indicator on one of the forums and although I don't usually waste my time with decompiled indicators I had a play with it and converted it to RSI, I have had it for a long time so I am not even sure if it works properly but it may give some clues for code
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