RMI (Relative Momentum Index) with Laguerre Filter
This is another idea from Tradingview, not sure if I translated it correctly but looks okay anyway. It a Laguerre Rmi, a Laguerre using Rmi instead of Rsi. It also includes "Trend" mode for traders who prefer the indicator to color during a strong trend, instead of signal that a reversal may be ahead.
What is the RMI?
The Relative Momentum Index (RMI) is variation of the Relative Strength Index (RSI) but, unlike the RSI, which focuses solely on consecutive price changes, the RMI incorporates momentum over a flexible lookback period. This approach further aids in identifying potential reversals as well as filtering out market noise.
The RMI evaluates the momentum of price fluctuations over a designated timeframe, rather than just merely assessing the extent of price changes as the RSI does.
What does the Laguerre Filter do?
The Laguerre filter is classified as an Infinite Impulse Response (IIR) filter, utilized for the purpose of signal or data smoothing. This filter enables the application of variable smoothing to a signal through the adjustment of its "pole position", thereby allowing for the management of the trade-off between smoothness and delay according to individual preferences.
It serves as an alternative to basic moving averages, offering improved preservation of the original signal's shape.
Re: RSI Indicators for MT4
2942
I've not seen a Laguerre Rmi before but its certainly faster than the famed Laguerre RSI works great on hourly charts and ofcourse any timeframe above... I really find the trend mode signal option a godsend for staying in trades.... this one should not be overlookedmrtools wrote: Tue Nov 19, 2024 9:22 am This is another idea from Tradingview, not sure if I translated it correctly but looks okay anyway. It a Laguerre Rmi, a Laguerre using Rmi instead of Rsi.
Re: RSI Indicators for MT4
2943Synthetic Rsi has proven to be one of the best rsi indicator, especially in defining trend direction. When used with Xard trend following system, it brings clarity and simplicity to decision making, especially for beginners like myself in the forex station community. Each levels(80,50,20) of the indicator resonate seamlessly with Ema(233,55,13) without ambiguity. I will implore beginners in Xard system to test synthetic Rsi out.
It shall also be awesome if Mr kvak can add arrows to the levels, and maybe button for more user friendly.
Wishing everyone green pips.
It shall also be awesome if Mr kvak can add arrows to the levels, and maybe button for more user friendly.
Wishing everyone green pips.
Re: RSI Indicators for MT4
2944Hi, kvak, can you share iCustom calls of this attached indicator for EAkvak wrote: Fri Nov 15, 2024 8:34 am Enhanced RSI Filter indicator for Subwindow and Candlestick Overlay version
Little enhanced RSI filter indicator, subwindow histogram + candle version.
PS: For the 1/-1 Histogram (Zero Line) version with vertical entry lines, please see here: Enhanced RSI Filter Zero Line Histogram for MT4.
Re: RSI Indicators for MT4
2945Hello. I replaced rsi with stochastic pack and post one version HERE, test itAbdi wrote: Tue Nov 19, 2024 8:46 am Even better!Thats awesome, thank you!
I have a question.
Is there an stochastic version from you,
with exit signals like the this RSI u made?
Re: RSI Indicators for MT4
2946HiGanesh wrote: Wed Nov 20, 2024 2:34 am Hi, kvak, can you share iCustom calls of this attached indicator for EA
try this
Code: Select all
TimeFrame,note1,RsiPeriod,RsiMethod,MAPrice,SmoothPeriod,SmoothType,Depth,Speed,UpDownPeriod,ROCPeriod,Lambda,LevelUp,LevelDown,LevelUp2,LevelDown2,note2,CandleWidth,AutoCandle,wickWidth,candleUP,candleDN,note4,alertsOn,alertsOnCurrent,alertsMessage,alertsSound,alertsNotify,alertsEmail,soundFileRe: RSI Indicators for MT4
2947Hello, like this?Shabba23 wrote: Tue Nov 19, 2024 9:21 pm Synthetic Rsi has proven to be one of the best rsi indicator, especially in defining trend direction. When used with Xard trend following system, it brings clarity and simplicity to decision making, especially for beginners like myself in the forex station community. Each levels(80,50,20) of the indicator resonate seamlessly with Ema(233,55,13) without ambiguity. I will implore beginners in Xard system to test synthetic Rsi out.
It shall also be awesome if Mr kvak can add arrows to the levels, and maybe button for more user friendly.
Wishing everyone green pips.
Updated version of composite RSI with entry/exit arrows/alerts for levels.
- These users thanked the author kvak for the post (total 7):
- Cagliostro, RodrigoRT7, thomdel, Jimmy, moey_dw, Shabba23, Kayleb
Re: RSI Indicators for MT4
2948
Him honey man an important upgraded feature for this already influencial indicator...... entry/exit has made it peak synthetic rsi package ☝kvak wrote: Sat Nov 23, 2024 10:35 am Hello, like this?
Updated version of composite RSI with entry/exit arrows/alerts for levels.
Official Forex-station GIF animator at your service 
See a GIF with Forex-station.com on it? I probably made it
The best divergence indicator in the world.
Real news exists: Infowars.com
See a GIF with Forex-station.com on it? I probably made it
The best divergence indicator in the world.
Real news exists: Infowars.com
Re: RSI Indicators for MT4
2949Thank you for making the indicator clarity more clearer. You're appreciated.kvak wrote: Sat Nov 23, 2024 10:35 am Hello, like this?
Updated version of composite RSI with entry/exit arrows/alerts for levels.
Re: RSI Indicators for MT4
2950Tested the indicator. The exit level arrow is not functioning well. All other parameters are OK. Thankskvak wrote: Sat Nov 23, 2024 10:35 am Hello, like this?
Updated version of composite RSI with entry/exit arrows/alerts for levels.
