Rsi(var) and Average - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

RSI was originally developed for MetaTrader 4 and RSI calculations can be performed using 4 different types of averages by Igor Durkin ((originally posted here: https://www.mql5.com/en/forum/175870 ).

The so-called normal RSI uses EMA smoothing with period = 2*Length-1 (or Wilder smoothing with period = length).

I developed the RSI indicator using my calculation algorithm.

Now you can use any length value and any type of smoothing.

This version can use up to 2 moving averages applied to this RSI to filter out some false signals (when RSI is used in combination with horizontal crossovers). In this version you can use smoothed values ​​of the RSI for signals. To turn off any averaging, set the averaging period to less than or equal to 0.

Attachment download

📎 rsi9var4_with_averages.mq5 (17.97 KB)

Source: MQL5 #19865