that's quick, thanks
ok, i'm gonna test it first to see it live
then again... where is the "Thank you" button? i can't see it
done testing. it does the job well. truly a superb indicator!!!
A TRILLION thanks for you :)
This one allows even rsi length 1 (which is impossible with the built in metatrader rsi).
this is my first post in this forum.
first I should thank mladen for his great posts in this forum, he is really great.
second iam sorry for my bad english
dear mladenthat is obvious that you have so mush experiences in using RSI.
i have a question about this indicator, as i understand from your posts in different topic the appropriate period for RSI in 30min time frame is 14.
now i want to know base on your own experience what are the best periods for using RSI in 15min, 1H, 4H and Weekly?
if it is possible for you write indicator like the above one with the nice average line and alert for those time frames with the appropriate period base on your own experience.
again thank you forevery thing.
RSI is a rather "strange fruit". The longer the period, the flatter the RSI is. So, when it comes to using the regular rsi with some levels, every serious study is recommending not to use periods > 10. That way people are trying to have meaningful level breaks for over bought and over sold. Somewhere along the road the period 14 become a "standard default" value (even I use it as a default value, but really periods less than 10 are better for level breaking systems
You can try it out and try, for example, rsi period 50 and you will see that it becomes almost a flat line and that it almost never crosses the usual 20-80 levels.
One solution to avoid that "trap is to make different kind of levels that will adapt to the rsi itself. One of the solutions is the "floating levels" rsi (from this post : https://www.mql5.com/en/forum/178733/page13 ) in which case it is not so important what is the rsi calculating period and in which the "flattening" effect is avoided to a good extent. So, in my opinion, as far as RSI is concerned, the best is to have some kind of dynamic levels (like in the "floating" one) regardless of the calculating periods (it even allows you to use those longer periods in a whole new way)
RSI based EA
i am looking for an EA which is based on RSI cross. For example, if RSI is going down, and crossing the
50-line, then the EA should make a market order Sell.
A better one is if it is combined with the stochastik indicator, that mean the rsi cross should only work
in overseld/bought areas.
Which one is the best you know?
thanks a lot for help
i remember there are many similiar EA in the forum, you can search RSI EA, you can get the result.
it is not the difficult ea.
For start look at this thread : https://www.mql5.com/en/forum/general
Or maybe this one : https://www.mql5.com/en/forum/177434
I need RSIOMA_MODE 0,1,2,3,4,5,6,7,8,9,10,.....20) and Ma_RSIOMA_MODE 0,1,2,3,4,
Dear MLADEN ;
I need RSIOMA_MODE 0,1,2,3,4,5,6,7,8,9,10,.....20) and Ma_RSIOMA_MODE 0,1,2,3,4,5,6,7,8,9,10,.....20)
// MA_Method= 0: SMA - Simple Moving Average
// MA_Method= 1: EMA - Exponential Moving Averagersioma_v4.02.mq4
// MA_Method= 2: Wilder - Wilder Exponential Moving Average
// MA_Method= 3: LWMA - Linear Weighted Moving Average
// MA_Method= 4: SineWMA - Sine Weighted Moving Average
// MA_Method= 5: TriMA - Triangular Moving Average
// MA_Method= 6: LSMA - Least Square Moving Average (or EPMA, Linear Regression Line)
// MA_Method= 7: SMMA - Smoothed Moving Average
// MA_Method= 8: HMA - Hull Moving Average by Alan Hull
// MA_Method= 9: ZeroLagEMA - Zero-Lag Exponential Moving Average
// MA_Method=10: DEMA - Double Exponential Moving Average by Patrick Mulloy
// MA_Method=11: T3 - T3 by T.Tillson
// MA_Method=12: ITrend - Instantaneous Trendline by J.Ehlers
// MA_Method=13: Median - Moving Median
// MA_Method=14: GeoMean - Geometric Mean
// MA_Method=15: REMA - Regularized EMA by Chris Satchwell
// MA_Method=16: ILRS - Integral of Linear Regression Slope
// MA_Method=17: IE/2 - Combination of LSMA and ILRS
// MA_Method=18: TriMAgen - Triangular Moving Average generalized by J.Ehlers
// MA_Method=19: VWMA - Volume Weighted Moving Average
// MA_Method=20: JSmooth - Smoothing by Mark Jurik
thank you mladen for your help. i will take a look at it...