I discovered that MT4 implementation of RSI is not a Wilder RSI implementation but kind of another type. Proof is here.
Can anyone from this thread comment on this ??
Here is a link to rsipaintpro indicator together with a few ebooks about RSI trading
That is not their only case when they did something like that
See ADX (which is, by definition, not an ADX at all but something that nobody knows where it comes from), see the MACD (Appel clearly told that signal line is EMA not SMA), and a lot of cases like that
Metatraders ADX is a laughing stuff from regular trading platforms users
It makes metatraders users look ridiculous that they do not know how a real ADX looks like
There is a dispute at mql from 2013 where they finally discovered that the metatrader ADX is not ADX (although they got the reasons all wrong - difference is much bigger than they are trying to explain there). Someone got lost in Wilders book translation Guess the same is for RSI
please make corridor rsi with arrow onchart
"Plain" rsi is not suitable to be made "corridor" like. There are two many spikes that would cause "corridor" lines meaningless. Corridor like "candidates" are more or less indicators that are much smoother than rsi (that is why RSX was made as corridor version not the rsi)
alx rsi (with bands and average) : alx_rsi_bands_ma-1.mq4
I am new here and I think someone here have heard about RSI William Golden ratio ... Can someone please share if have it? I tried search from google but ...
Try BBsqueeze, you'll see it's quite the same.
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