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Re: RSI Indicators for MT4

2772 by kvak
Abdi wrote: Thu Mar 28, 2024 11:32 pm Hi, Kvak.

Hope you are doing fine?
Just wanted to ask if you had time to look in to the small modification i was suggesting in the post above?
RSI Double Filter (2x Levels)

Hello.
Is this what you want?

To recap, this custom RSI has the following options:
  • MA "Filter" (On Price)
  • The option to filter:
    Trend momentum (cross signals)
    • Price above MA filter = Will signal only on RSI cross's overbought area
    • Price below MA filter = Will signal only on RSI cross's oversold area
    • ie: price is above the 200 ema and the rsi crosses above the 70 level. Arrow below the candle
    Trend pullback (exit signals)
    • Price above MA filter = Will signal only when RSI exits the oversold area
    • Price below MA filter = Will signal only when RSI exits the overbought area
    • ie: price is above the 200 ema and the rsi crossed below the 30 level and is now exiting the 30 level. Arrow below the candle
  • MA is displayed as small histogram
  • Updated averages method and RSI pack
These users thanked the author kvak for the post (total 9):
Abdi, nbibu, josi, RodrigoRT7, Jimmy, Krunal Gajjar, mrtools, 太虚一毫, Kayleb
Rating: 5.3%

Re: RSI Indicators for MT4

2774 by josi
kvak wrote: Sat Mar 30, 2024 7:42 am Hello.
Is this what you want?
Thanks, kvak, for this indicator.
The problem I have with it: it uses the erroneous concept of overbought and oversold.
If people simply used the RSI with a buy- and a sell-level, the RSI would be a wonderful indicator to make money (but people never learn, do they?)
I tried to make clear what I mean (and how I think it should be used):
These users thanked the author josi for the post (total 2):
kvak, Jimmy
Rating: 1.2%

Re: RSI Indicators for MT4

2775 by kvak
josi wrote: Sun Mar 31, 2024 1:00 am Thanks, kvak, for this indicator.
The problem I have with it: it uses the erroneous concept of overbought and oversold.
If people simply used the RSI with a buy- and a sell-level, the RSI would be a wonderful indicator to make money (but people never learn, do they?)
I tried to make clear what I mean (and how I think it should be used):
Hello.
Thank you for your advice.
There are a lot of settings that allow everyone to set what they need for their trading style......
These users thanked the author kvak for the post:
josi
Rating: 0.6%

Re: RSI Indicators for MT4

2776 by mrtools
mrtools wrote: Sat Mar 30, 2024 7:01 am This is an atr adaptive rsi, with 10 different rsi types and the average options to choose for pre smoothing if desired. Added an option to use either the built in mt4 atr for adaption or a little different custom atr.
ATR Adaptive RSI with Color Fill

Added an upper/lower level fill.
These users thanked the author mrtools for the post (total 9):
kvak, Jimmy, vvFish, Starfish, ParallelNative, unimatrix, talaate, RodrigoRT7, 太虚一毫
Rating: 5.3%
Shalom Shalom! :hug:

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