Rocket RSI - MetaTrader 5 Script - MQL5 #20819 - MT4/MT5 Resources
As stated in the May 2018 edition of Technical Analysis of Stocks and Commodities by John F. Ehlers. This indicator is an enhancement to the traditional RSI and is used to detect cyclical reversals.
This indicator has two settings:
How to use this indicator in practice:
An example of this indicator is shown below.
Attachment download
📎 rocketrsi.mq5 (4.14 KB)
Source: MQL5 #20819
Rocket RSI - MetaTrader 5 Script - MQL5 #20819 Usage and Filtering Advice
Rocket RSI - MetaTrader 5 Script - MQL5 #20819 is a resource related to foreign exchange 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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