RSI Accumulation (Floating Levels) - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
Cumulative RSI used:
The Accumulation process uses successive RSI calculations to "build" new "RSI" values.
PS: Since this indicator is quite unknown (I guess because it is almost unusable in any normal trading without using dynamic areas, floating levels or quantile bands), I would like to point out one of its properties: the more it accumulates, the smoother it becomes, however, the "strange" thing is that there is no additional lag (when using these types of adjustment levels).
Here's an example where 30 instances of RSI have been accumulated in the cumulative RSI value - obviously a lot of false signals are cleared (I'm not even using RSX as an example):
Attachment download
📎 rsi_accumulated_ifloating_levelsp.mq4 (44.32 KB)
Source: MQL5 #18069
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