pavaka
4411
pavaka  
whisperer:
What is the difference compared to regular rsi?

it's yellow?.........

tampa
2047
tampa  
whisperer:
What is the difference compared to regular rsi?

It is supposed to calculate the RSI the "Wilders way"

Mladen Rakic
222862
Mladen Rakic  

I think that there is some kind of a confusion about the "Wilders way"

Welles Wilder uses a sort of ema that has alpha parameter calculates as 1/period (unlike the ema which has the alpha parameter calculated as 2/(1-period)).

Now, what is less known, is that Wilders ema is exactly the same as smma in values (smoothed moving averages - and that is what is used in metatrader version of rsi as well as in the WRSI indicator - that is why the results are exactly the same). If we were to do it the Wilders' way to the letter, we should use the Wilders ema, but that would not change the results compared to the existing versions.

sameermehta74
52
sameermehta74  

Dear Mladen and MrTools,

Any chance this indicator be made nmc. Thanking you in advance. Much appreciated.

arrow_rsi-8_cross-55_45.mq4

mladen:
Try it out now. It should alert only on a first closed bar (there was an alert in the original indicator but it was commented - all I did is un-comment it (helas - without checking). Now added a check to alert on fist closed bar only)
William Snyder
9576
William Snyder  
sameermehta74:
Dear Mladen and MrTools,

Any chance this indicator be made nmc. Thanking you in advance. Much appreciated.

arrow_rsi-8_cross-55_45.mq4

Hi Sameermehta74, made it nmc.

Tam
197
Tam  
mrtools:
Hi Sameermehta74, made it nmc.

Nice work

Thanks

Abhinav
35
Abhinav  
mladen:
Abhinav Here you go : smoothed_rsi_histo.mq4

Hi mladen,

Can you please convert this version into multi time frame version.

Regards,

Abhinav

Mladen Rakic
222862
Mladen Rakic  
Abhinav:
Hi mladen,

Can you please convert this version into multi time frame version.

Regards,

Abhinav

Abhinav

Here is the multi time frame version of that indicator : smoothed_rsi_histo_mtf.mq4

Abhinav
35
Abhinav  
mladen:
Abhinav Here is the multi time frame version of that indicator : smoothed_rsi_histo_mtf.mq4

Really Thankful Mladen,

Regards,

Abhinav

Jan Fouquaert
586
Jan Fouquaert  
mrtools:
Hi Sameermehta74, made it nmc.

I took the liberty to make some other versions out of this one.

One with levels 40-60, another one with levels 30-70 and one with levels 20-80.

I also renamed them, for me the name was too long, hope you don't mind.