RSI for AMA - Floating Levels - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
The use of RSI (Relative Strength Index) started for two main reasons:
This version uses Vitali Apirine's Adaptive Moving Averages for this purpose. However, in order to make it more usable (since color changes, slope changes or certain fixed horizontal crossovers tend to be "less usable" signals) this version adds floating levels to the indicator.
It can be used in the same way as any Ris(oma) indicator or any Rsi itself. Or you can use color change as signal
Attachment download
📎 rsi_of_ama_wflw.mq5 (18.9 KB)
Source: MQL5 #23810
AMA's RSI - Floating Levels - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
AMA's RSI - Floating Level - 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 only on titles or short-term profit descriptions.
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