MTF RSI Smoothing (Recursive) - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Recursive implementation of the multi-timeframe smoothed RSI indicator.
The standard numerical RSI smoothes the indicator using a simple moving average ( SMA ). To disable smoothing, set a value of Smoothed <= 1.
This indicator uses recursion itself to require shorter time frames. This eliminates the need to create two indicators: a regular indicator and a multi-timeframe (implemented by calling the regular indicator). Furthermore, the multi-timeframe indicator does not work without the traditional version. This code is useful as a demonstration of a special programming technique rather than a unique oscillator for trading.
Attachment download
📎 mtf_rsi_smoothed.mq5 (6.38 KB)
Source: MQL5 #2186
MTF RSI smoothing (recursive) - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
MTF RSI smoothing (recursive) - 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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