Hull RSI - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources - MetaTrader 5 Resources
The Relative Strength Index (RSI) is a momentum indicator developed by well-known technical analyst Welles Wilder. It compares the magnitude of recent gains and losses over a specific time period to measure the speed and variability of security price movements. It is primarily used to try to identify overbought or oversold conditions in asset trading.
As a momentum indicator, the RSI tends to "overreact" (using the slope of the RSI as a trend signal is generally a bad idea). One way to change this is to filter the price before using it in the calculation - this way the value of the RSI will be smoother and false signals will be significantly reduced.
PS: Using a Hull period less than or equal to 1 produces the same RSI value as the RSI without Hull averaging.
Attachment download
📎 rsi_of_hull.mq5 (12.76 KB)
Source: MQL5 #20410
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