Dsl - Average RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The indicator uses the filtered price of the RSI (instead of using the "raw" price) and uses interrupted signal lines for trend assessment (instead of using slopes or fixed levels).
Price filtering before RSI calculation helps reduce false signals without adding significant lag.
The interrupted signal line helps make the important levels a dynamic one - instead of using fixed levels, the indicator adjusts itself based on market (and RSI) changes - thus making it an adaptive indicator (i.e. instead of adjusting the RSI value, it adjusts the important levels, effectively making the indicator adaptive).
PS: Price filtering supports the usual set of built-in averages. Set the averaging period to 1 to equal the "regular" RSI.
Attachment download
📎 dsl_-_rsi_of_average.mq5 (7.54 KB)
Source: MQL5 #20463
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