RSI Prognosticator
Info
The RSI Prognosticator is a Indicator for MetaTrader 4 that this indicator predicts rsi values based on historical data and pattern recognition. Settings:- Start: The beginning date for the indicator's calculation period.
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 RSI Prognosticator
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
This indicator predicts RSI values based on historical data and pattern recognition.
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: pf e2 - another powerful indicator for MetaTrader 4 traders.
This indicator predicts RSI values based on historical data and pattern recognition.Settings:
- Start: The beginning date for the indicator's calculation period.
Also recommended: VR Moving Average - similar indicator with strong performance on MetaTrader 4.
- pr_period: The cluster size in bars.- progn: The number of bars for the prediction.
- err: The error threshold for cluster consideration, ranging from 0 to 100.
- glubina: The depth to search for suitable clusters, up to the entire array.
- exp: Averaging mode for the prediction based on found clusters (0 - simple moving average, 1 - linearly-weighted moving average).
The indicator's calculation involves:
- Taking historical RSI values over 'pr_period' bars.
- Observing the indicator values after 'progn' bars to obtain a set of indicator values and their corresponding outcomes.
- Storing these values in an array.
- Iterating over the array at the specified 'glubina' depth to identify similar situations within the defined 'err' error threshold.
- Averaging the obtained results using the chosen 'exp' method.
This process results in the predicted RSI value.
You may also like: Channels Indicator for MetaTrader - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 red
#property indicator_color2 blue
#property indicator_minimum 0
#property indicator_maximum 100
extern datetime start=d'2008.10.01';
extern int period=24;.......
⚠ 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.