dsl (discontinued signal lines) - rsx
Info
The dsl (discontinued signal lines) - rsx is a Indicator for MetaTrader 4 that rsx is by it's nature "smoother rsi than rsi" without additional lag and because of that it has much less signals than the rsi. rsx is mainly used in combination with levels or with a sort of signal lines.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use dsl (discontinued signal lines) - rsx
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
rsx is by it's nature "smoother rsi than rsi" without additional lag and because of that it has much less signals than the rsi.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: williams b indicator: a multidimensional approach to trading signals - another powerful indicator for MetaTrader 4 traders.
rsx is by it's nature "smoother rsi than rsi" without additional lag and because of that it has much less signals than the rsi. rsx is mainly used in combination with levels or with a sort of signal lines. some prefer the levels some, on the other hand, "signal" line. we could dispute which one is the better, but it probably mainly depends on trading style.here is a version that, in some way, combines the two types. discontinued signal lines idea is simple: when rsx value is above central value (rsx being 50), then only the upper signal line is calculated, and the lower signal line value is "inherited". when the value of rsx is below central value then the lower signal line is calculated and the upper signal line is "inherited". that way we are getting a kind of combination of levels and signal lines without a need to change the value of the rsx itself. as it is obvious it has its better sides compared to both methods (especially avoiding some problems with "trends" when signal lines alone are used). in any case extensive testing is advised.Also recommended: awesome signal - enhanced trading indicator - similar indicator with strong performance on MetaTrader 4.
You may also like: signal direction probability indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.