it tried it with
double currntValue =iCustom(NULL,5,"RevEng EmaRsi",0,i);
but thats not work.
Ac_boerce, added mtf.
great, Thank you
hi dear friends
is there any indicator to alarm when 2 period of rsi cross each other ?
for example we have a pop up and arrow alert when rsi(9) crosses rsi(14)
buy signal (cross from bottom )
sell signal (cross from top )
Here is an indicator that can alert on crosses of two rsi indicators : rsicrosses.mq4
hi dear mladen
is it possible to covert above indicator to mtf histogram version based on differences of value of 2 rsi ?
each bar size is equal to difference of 2 rsi
blue and positive bar when shorter rsi is above the longer
and red and negative when shorter rsi is blow the longer
thanks a lot in advance
can this be normalize to 0 to 100? i like to use 80 as overbought n 20 as oversold.
Set the fixed minimum to 0 and fixed maximum to 100 in the indicator properties (all rsi indicators, rsx included, are normalized in the 0 to 100 range, I just don't like to see a flat line in an empty window when the period is long)
is there any disadvantage of being flat or bound it to in between 0-100.
RSI is a specific indicator
Take as an example - upper is rsi period 8 and lower is rsi period 50 :
Rsi period 50 will never reach levels that period 8 reaches regularly - but, if you remove the fixed 0 to 100 range displayed at those charts, you get this :
Now that rsi 50 becomes another story - and instead of a flatliner on an empty window, it becomes a kind of a reliable trend showing indicator. That is why I did not make a default 0 to 100 range in that indicator. In my opinion, trading levels using rsi is of very limited use with very limited periods that can be used for that. Adaptive rsi is much better in showing entry and exit points in signal line crosses than it will ever be in some levels (whatever those levels will be) crossing
One should never forget that rsi is not like stochastic (that reaches extreme levels for any period calculated) - and rsi should be traded accordingly (with that "alert" built in in our heads : rsi is not naturally a "levels crossing" indicator unless it is changed (like some other kinds of indicators that are also having "rsi" in name)
Interesting point of view on rsi