Re: RSI Indicators for MT4

1752
newbie4ever wrote: Wed Nov 24, 2021 10:24 pm I think with useful indicators that mrtools, mladen, kvak, banzai,... along with other great coders or members contribute. We should not be lazy and learn to build or find a strategy that suits our personality and trading style.🤔

Once we've found a strategy on our own, it's easier to read another strategy and contribute ideas to make it even better💯. This will only happen when everyone already has the ability💪

As a newbie or a new member we should observe and learn, there are many great trading systems and strategies on this forum.😉
:roll:
:think:
:sad:
Until you learn how to customize the indicators for your trade, you will not have a stable
profit.
These users thanked the author vvFish for the post (total 3):
newbie4ever, andrei-1, BeatlemaniaSA
"Only the price on the chart can show the entrance to the deal..."


Re: RSI Indicators for MT4

1756
Hello,

MrTools, thank you for your continued contribution to this site.

I am wondering if you can add the following to this indicator?
1 - Add alerts when the bar colour changes
2 - Make sure it is not a repainting indicator.

I know there are similar indicators like this that you may want to refer me to but I would appreciate it if you can edit this SPECIFIC indicator.

I find it a very useful weapon to get out of trades.

NOTE: Please also share a useful exit indicator you feel I could benefit from too... Maybe one you have used! I am intrigued to know.

Re: RSI Indicators for MT4

1758
SEC7 wrote: Fri Dec 03, 2021 7:42 am Hello,

MrTools, thank you for your continued contribution to this site.

I am wondering if you can add the following to this indicator?
1 - Add alerts when the bar colour changes
2 - Make sure it is not a repainting indicator.

I know there are similar indicators like this that you may want to refer me to but I would appreciate it if you can edit this SPECIFIC indicator.

I find it a very useful weapon to get out of trades.

NOTE: Please also share a useful exit indicator you feel I could benefit from too... Maybe one you have used! I am intrigued to know.
Don't think it repaints, but have this version with alerts, that for sure there is no repainting.
These users thanked the author mrtools for the post (total 2):
SEC7, Borshchov A.N.

Re: RSI Indicators for MT4

1760
mrtools wrote: Mon Nov 08, 2021 5:54 am MyRSI with NET (Noise Elimination Technology) by John Ehlers

From Mladen Rakic

In December 2020 issue of TASC, John Ehlers published an indicator called MyRsi with NET (MyRsi with Noise Elimination Technology) in which he uses a sort of Kendall (auto)correlation to filter out signals

The only deviation in this version is that we can use desired prices (instead of using fixed close price)

Recommendations:

  • You can use it as any other rsi
  • You can combine the signals from rsi and net line (from visual inspection, it seems that net line tends to produce faster and cleaner signals)
Image

Image
Dear MrTools, thank you so much for sharing so many of your indicator. It has help me tremendously in my trading algo development, albeit manual algo trading, with my zero coding capabilities.

If you dont mind, is it possible to add automatic mark, whenever the MyRSI line and NET line, each has opposite value ? example is My RSI has negative value and NET has positive value, and vice versa. This marking will help me so much in identifying no trade zone

From my backtest, i notice whenever that situation happens, it is better not to open any position. And My RSI > 0 and > NET are bias to increasing price up momentum, vice versa. While MyRSI >0 but < NET are lower up momentum, vice versa.

Thank you very much for your work and time. Your help is very appreciated Sir.


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