Trend Envelope - RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Trend envelope changes of the RSI indicator.
The RSI indicator used in this version can be pre-smoothed. This is done to avoid too many false signals. The pre-smoothing method used can be one of the basic average types (SMA, EMA, SMMA, or LWMA), or if you use a smoothing period less than or equal to 1, no smoothing is used.
The RSI value shown is a "generic" RSI. Its RSI is (RSI (highest) + RSI (lowest) + RSI (closing))/30. You won't be able to find a similar RSI just by searching the rest of the available RSI types.
Attachment download
📎 trend_envelopes_-_rsi.mq5 (10.03 KB)
Source: MQL5 #20963
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