Better RSI - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
The Relative Strength Index is an old indicator that still has incredible advantages today. But the problem is that it is susceptible to market noise and generates a large number of false signals.
This indicator takes the concept of RSI, which reads and displays momentum, and refines it to only present true market movements.
This indicator should be used in the same way as the RSI, looking for divergences, trading on the indicator's upward or downward movement, or waiting for oversold or overbought areas.
Attachment download
📎 a_better_rsi.mq5 (3.62 KB)
Source: MQL5 #49386
Better RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Better RSI - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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