Corrected RSX - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
Dr. Alexander Uhl invented a method to filter moving averages and examine signals. Initially it was intended only for average use. But it turns out it can be used for a number of other indicators as well.
This indicator:
The indicator uses the "correction" method and generates a corrected RSX (Relative Strength Quality Index). Although the RSX has been smoothed out and doesn't signal as much as the "regular" RSI, the "corrected" RSX appears to be useful for trading.
You can use changes in color as signals.
Attachment download
📎 corrected_rsx.mq5 (12.75 KB)
Source: MQL5 #22400
Corrected RSX - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Corrected RSX - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. 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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