RSI vs. RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
In his article Rsi combined with Rsi author Peter Konner describes how to use two different RSI calculations (using different lengths) to allow for retracement trading as well as long-term position trading. The 5-week and 17-week RSI values are used for entries and exits, while the 17-week RSI is used in trend direction as an entry filter on retracement entries.
This version of the indicator allows you to use any combination of periods on any time frame, but keep in mind that the original indicator was developed for the weekly time frame.
Attachment download
📎 rsi_with_rsi.mq5 (14.25 KB)
Source: MQL5 #21125
RSI and RSI - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
RSI and RSI - 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.
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •