alb Average RSI - 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 erroneous signals are filtered out at the signal source itself (by the average price) and are also ignored (false signals) in the RSI calculation. Furthermore, since the average is adaptive, it implicitly makes the RSI adaptive as well
ALB averages that can be used:
Some experimentation with parameters is recommended, but the use of this RSI is common: either use slope or some important parameter signal level crossover
Attachment download
📎 rsi_of_alb_average.mq5 (16.35 KB)
Source: MQL5 #22235
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