Ftap Adaptive RSI
Adaptive RSI is an advanced Relative Strength Index indicator. Adaptive RSI can change the look back period dynamically based on current market condition. Adaptive RSI adapts to the market changes as much as possible. Adaptive RSI is more advanced than conventional RSI.
Adaptive RSI is a tool to catch more over-bought/sold opportunities!
- Dynamic look back period - Adaptive RSI changes the look back period dynamically basing on smartly designed adaptive methods. No worry about RSI period any more.
- 7 adaptive methods - The 7 methods are Volatility, Fractal, Swing, Symmetry ZigZag, Up Down Balance, Variable, and Fixed. All methods can be configured separately.
- 8 price types - Beside 7 MetaTrader price types, close, open, high, low, median, typical, and weighted, John Ehlers RSI smoothing is also supported.
- More sensitive to market - Adaptive RSI is much more sensitive to Forex market condition changes than conventional RSI.
- More signals - Adaptive RSI generates more signals of over bought and over sold strategies than conventional RSI.
- Shows buy and sell signal arrows
- Generates alerts for the signals
- No repaints, no recalculation
- 4 and 5 digits brokers
- Displays the look back
- DisplayLookBack - Whether display the look back period.
- AppliedPrice - The price type to apply to the indicator.
- ptClose - Close price.
- ptOpen - Open price.
- ptHigh - High price.
- ptLow - Low price.
- ptMedia - Median price, (High + Low) / 2.
- ptTypical - Typical price, (High + Low + Close) / 3.
- ptWeighted - Weighted price, (High + Low + Close + Close) / 4.
- ptMean1221 - John Ehlers smoothing price. (C1 * 1 + C2 * 2 + C3 * 3 + C4 * 1) / 6. This leads more smoothing price, less false signals and more lagging indicator.
- amVolatility - Use the volatility to measure the look back.
- amSwing - Count the swing (highest and lowest peaks) to measure the look back.
- amSymmetryZigZag - Use the SymmetryZigZag indicator to measure the look back.
- amUpDownBalance - Count the bars of up and down to measure the look back.
- amVariable - Use Efficiency Ratio to measure the look back.
- amFractal - Use fractal to measure the look back.
- amFixed - Not adaptive, use fixed look back. Works same as the conventional indicator.
Adaptive RSI is a better indicator for over bought/sold strategies because it is more sensitive to market condition change than conventional RSI. The levels should better be 80 and 20 rather than 70/30. I personally don't recommend to use Adaptive RSI as the only indicator for entry/exit. It should be used together with other indicators or price action. For example, we may determine the current market trend with EMA, and only buy at over sold in a bullish market and only sell at over bought in a bearish market. More strategies are waiting for you to research.