Re: MT5 Rsi indicators

72
From Mladen:

RSX 2

Experimenting with RSX

As we know rsx is a smoother rsi. Was thinking if there is some space in its calculation to experiment and eventually improve it (if possible). So I tried this experiment. What is added are the depth of calculation (maximum 10 - default rsx has "depth" 3) and speed. Speed is a parameter that causes it to "overreact" (in positive sense this time, I hope) and to overcome the flattening problem a bit.

To show what is it about, here is an example of a 32 period rsx with default (upper) and with "speed" set to 0.8 (lower).

As it is obvious 2 things happened : with "speed" 0.8 it is faster than the regular one in detecting crosses (a bar or two but sometimes the difference is much, much more) and it reaches the predefined levels while the regular one almost never does.
I converted it to mt5.

Re: MT5 Rsi indicators

73
Another great indicator from Mladen and explained by him::::

Range Expansion Index (REI) definition :

Range Expansion Index (REI) is an oscillator that measures price changing rate and signals about overbought/oversold areas, in case a price shows weakness or strength. It was developed by Thomas DeMark and described in his book New Market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion!

The indicator values change from -100 up to +100. REI is an enhanced oscillator, as it stays neutral during a flat and shows trends only when considerable top or bottom have been reached.

This version :

This version is made according to Mark Jurik's idea : according to him, REI can be made as rsx(high) + rsx(low) - and the result should be much smoother. So, this version is doing exactly that.


You have an option to chose between three color changing modes :

color change when outer levels are crossed
color change when middle level (a sort of a "zero line") is crossed

This is a version using rsx2 with speed and depth settings, seems maybe a little faster but needs a lot of testing.

Re: MT5 Rsi indicators

74
mrtools wrote: Fri Apr 12, 2024 8:03 am Another great indicator from Mladen and explained by him::::

Range Expansion Index (REI) definition :

Range Expansion Index (REI) is an oscillator that measures price changing rate and signals about overbought/oversold areas, in case a price shows weakness or strength. It was developed by Thomas DeMark and described in his book https://www.amazon.com/Science-Technica ... 0471035483.

The indicator values change from -100 up to +100. REI is an enhanced oscillator, as it stays neutral during a flat and shows trends only when considerable top or bottom have been reached.

This version :

This version is made according to Mark Jurik's idea : according to him, REI can be made as rsx(high) + rsx(low) - and the result should be much smoother. So, this version is doing exactly that.


You have an option to chose between three color changing modes :

color change when outer levels are crossed
color change when middle level (a sort of a "zero line") is crossed

This is a version using rsx2 with speed and depth settings, seems maybe a little faster but needs a lot of testing.
https://www.wiley.com/en-us/The+New+Sci ... 0471035480

Here's the working link for the book since it appears to be broken in your initial post.


Re: MT5 Rsi indicators

77
mrtools wrote: Fri Apr 12, 2024 8:03 am Another great indicator from Mladen and explained by him::::

Range Expansion Index (REI) definition :

Range Expansion Index (REI) is an oscillator that measures price changing rate and signals about overbought/oversold areas, in case a price shows weakness or strength. It was developed by Thomas DeMark and described in his book New Market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion!

The indicator values change from -100 up to +100. REI is an enhanced oscillator, as it stays neutral during a flat and shows trends only when considerable top or bottom have been reached.

This version :

This version is made according to Mark Jurik's idea : according to him, REI can be made as rsx(high) + rsx(low) - and the result should be much smoother. So, this version is doing exactly that.


You have an option to chose between three color changing modes :

color change when outer levels are crossed
color change when middle level (a sort of a "zero line") is crossed

This is a version using rsx2 with speed and depth settings, seems maybe a little faster but needs a lot of testing.
Is it available in on chart version mrtools? Or rsx 2.01.
I want to see how rsx works on chart compares to separate window.

Re: MT5 Rsi indicators

80
mrtools wrote: Fri Apr 26, 2024 3:50 am Went ahead and made one, this version is a little different, it has 11 rsi types to choose from and averages for smoothing.
amazing!!
but please teach us how you put it on chart!


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