alb Average RSI - wnz - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

The RSI is not calculated using "pure" prices, but rather using an adaptive lookback average filtered price.

Price filter for RSI:

The advantage of using filtered (smoothed) prices is that certain false signals are filtered out in the signal source itself (by the average price) and are omitted (false signals) in the RSI calculation as well. Furthermore, since the average is adaptive, it implicitly makes the RSI adaptive as well

ALB averages that can be used:

Standardized area:

These areas are added to evaluate the "strength" of the current RSI value and possible reversal or trend exhaustion

Some experimentation with parameters is recommended, but it is common to use this RSI: either use slope or some significant signal level crossover

Attachment download

📎 rsi_of_alb_average_-_wnz.mq5 (18.58 KB)

Source: MQL5 #22236