Download ALL MT4 indicators (1638)
Similar MetaTrader Tools
Figurelli RSI: Enhanced Relative Strength Index for Trend Detection
Info
The Figurelli RSI: Enhanced Relative Strength Index for Trend Detection is a Indicator for MetaTrader 4 that the original rsiin my opinion, wilder's rsi (relative strength index) is a great momentum oscillator that works well for small period values (from 2 to 20). The proposed RSIThe main idea of the proposed RSI is to better detect signal overbought/oversold situations using larger periods for improved trend detection in any timeframe.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
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 Figurelli RSI: Enhanced Relative Strength Index for Trend Detection
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
The original RSIIn my opinion, Wilder's RSI (Relative Strength Index) is a great momentum oscillator that works well for small period values (from 2 to 20).
Typical Use Case
This Indicator excels in trend following 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: Figurelli RSI Auto - another powerful indicator for MetaTrader 4 traders.
The original RSIIn my opinion, Wilder's RSI (Relative Strength Index) is a great momentum oscillator that works well for small period values (from 2 to 20).
Also recommended: two pole butterworth filter - similar indicator with strong performance on MetaTrader 4.
The proposed RSI
The main idea of the proposed RSI is to better detect signal overbought/oversold situations using larger periods for improved trend detection in any timeframe.
To achieve this, I have made some changes to allow it to perform well with greater periods, such as 120, by introducing a gain variable.
Therefore, if you use a 120 period in the original Wilder's RSI, you can inject a gain to visualize the graph similarly to how it appears with small periods.
Parameters Description:
- period: Original RSI period
- gain: Gain injected for better visualization with greater periods
Example 1: The advantage of larger periods using Wilder's RSI gain injection in EUR/USD H1
- In the graph, we have a comparison of the two indicators: Wilder's RSI (blue) versus Figurelli RSI (red).
- Our target is to better detect signal points [1] and [4].
- Note that the original RSI with a period of 14 shows points [3] and [6] as almost the same, but points [1] and [4] are very different.
- In Figurelli RSI with a period of 120 and a gain of 10, we can observe points [2] and [5] which better detect the signal overbought/oversold situations.
Example 2: The advantage of larger periods using Wilder's RSI gain injection in EUR/USD D1
- Similar to Example 1, the graph shows a comparison of the two indicators: Wilder's RSI (blue) versus Figurelli RSI (red).
- Our target is to better detect signal points [1], [2], and [3].
- Note that for Wilder's RSI, point [1] is oversold, while in Figurelli RSI, point [2] is oversold.
Adjustment Tips:
- If you use a gain of 1, the Figurelli RSI will be equal to Wilder's RSI.
- If you increase your period, try to increase the gain. For a 120 period, you can try a gain of 10 to better visualize the great visibility of Wilder's RSI even with greater periods.
This tool was developed in 2026.
You may also like: keltner at r bands - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_minimum 0
#property indicator_maximum 100
#property indicator_buffers 1
#property indicator_color1 red
extern int period=120;
extern int gain=10;
static double buffer_indicator[];.......
⚠ 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.