RSI indicator - page 71

Mladen Rakic
160375
Mladen Rakic  
mort000:
Hello Mladen was an indicator that something like RSI fan and stochastic signals as small circles on the chart. Please tell me the name of the indicator

mort000

I am sorry but there is so much rsi and stochastic versions of indicators that right now does not come in mind which indicators could that be

name
992
name  
mladen:
sebastiank

First this. The reason for making this version so quick after the original version is explained here https://www.mql5.com/en/forum/183353/page85 . I felt that it needs to be posted simply because the .... things that metatrader does are making a good indicator bad in some cases (seems that we are going to have to think of our nail state too when coding - not to make metatrader angry and compile the code wrongly)

So, here is the version 2. Difference does not look big at the first glance but it is enormous since it avoids artificial changes of trend caused by metatrader and not buy the math. Upper is the first version, lower is the second version that patches that metatrader behavior

rsi_of_ema_variation__filter_2.mq4

Looks very promising so far

krzysiaczek99
298
krzysiaczek99  

Rsi - floating levels ...possibility of improvement ??

mladen:
Possible solution for one known RSI problem ...


As useful RSI is, one property it has is limiting its usefulness - the "flattening property". With RSI the problem is that the longer the RSI period is, the flatter the RSI is. Here is an example : upper is 9 period RSI with usual 20-80 levels and lower is 50 period RSI with those same levels

It is obvious that same levels are not worth for both RSIs and that the lower will almost never reach those levels. It is also obvious that RSI tends to "work" within certain range of values depending on its length. And that is the idea of the attached indicator : to use that range as a basis for levels and to adapt itself to changes in those ranges to mark the trading levels. Results for the above case is this :

It is obvious that all of a sudden RSI can be a trending indicator (since even on longer calculating lengths levels are kept at usable values) and that the problem of flattening is, at least in its bigger part, solved this way. That way it is giving a bit of a "new life" to the good old RSI

Hi Mladen,

I believe there is still possibility to improve this indicator. I think in this indicator floating levels change too often, and don't point to extreme enough market conditions, hard coding LevelDown/LevelUp is not adaptive. I believe the solution would be to 'approve' minimum/maximum level of RSI by check if RSI rebound to neutral zone (value 50). Otherwise

levels are changed by correlated moves of RSI belonging e.g. to the same trend leg. Such extreme approved by return of RSI to neutral values should be a floating levels. Additionally averaging of few previous levels should give a final level.

Do you know if something like this exist ??

Krzysztof

krzysiaczek99
298
krzysiaczek99  

Here is an example that level 42.7973 was not low enough to catch big move if we would exit after crossing this level. Settings were

50/1440

Files:
picture.jpg 427 kb
Mladen Rakic
160375
Mladen Rakic  
fajst_k:

Here is an example that level 42.7973 was not low enough to catch big move if we would exit after crossing this level. Settings were

50/1440

Krzysztof

Just an idea : why not introducing 2 more levels that would be a kind of an "extended" 50 line (the floating one, not the fixed one). For example adding "middle" levels 45 and 55 (as in the attached example - those are just examples - you can adjust those levels using parameters). That way the non-static nature of the levels would be preserved and we can have a kind of a "watch out" range that could serve as a new criteria for eventual trend changes

gtudor
275
gtudor  
mladen:
Krzysztof Just an idea : why not introducing 2 more levels that would be a kind of an "extended" 50 line (the floating one, not the fixed one). For example adding "middle" levels 45 and 55 (as in the attached example - those are just examples - you can adjust those levels using parameters). That way the non-static nature of the levels would be preserved and we can have a kind of a "watch out" range that could serve as a new criteria for eventual trend changes

Can you help me with RSI divergence indicator for MT4 build 610 ?

Thank you !

krzysiaczek99
298
krzysiaczek99  

divergence indicator

Here is one divergence ind which works under 610

Files:
krzysiaczek99
298
krzysiaczek99  
mladen:
Krzysztof Just an idea : why not introducing 2 more levels that would be a kind of an "extended" 50 line (the floating one, not the fixed one). For example adding "middle" levels 45 and 55 (as in the attached example - those are just examples - you can adjust those levels using parameters). That way the non-static nature of the levels would be preserved and we can have a kind of a "watch out" range that could serve as a new criteria for eventual trend changes

I use RSI as an exit so crossing lowest/highest level is important for me, this is a reason that I care about extreme values. I find those levels by optimization but its not perfect as they are changing during week so I have too little exits.

With the method what i described the lowest level fallen (from chart 1min GBPJPY) from 42

from your indi to 36-37, but still not low enough to catch a big move and not exit too early. But i think in such conditions (fast market) simple MA crossover will work so maybe it is easy to solve...

Krzysztof

gtudor
275
gtudor  
fajst_k:
Here is one divergence ind which works under 610

Thanks very much!

sebatian
676
sebatian  
mladen:
sebastiank

First this. The reason for making this version so quick after the original version is explained here https://www.mql5.com/en/forum/183353/page85 . I felt that it needs to be posted simply because the .... things that metatrader does are making a good indicator bad in some cases (seems that we are going to have to think of our nail state too when coding - not to make metatrader angry and compile the code wrongly)

So, here is the version 2. Difference does not look big at the first glance but it is enormous since it avoids artificial changes of trend caused by metatrader and not buy the math. Upper is the first version, lower is the second version that patches that metatrader behavior

rsi_of_ema_variation__filter_2.mq4

My eternal question Can we have it for tradestation too, please?