Adaptable RS I
This software component for MetaTrader 5 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Adaptable RS I
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.
Description & Settings
Oscillator Adaptable RSI, unlike standard RSI, allows you to select a method to calculate intermediate data that is calculated in standard RSI by the SMMA method only.
It has five configurable parameters:
Period
- calculation period
Method
- intermediate data calculation method
Applied price
- calculation price
Overbought
- overbought level
Oversold
- oversold level
Calculations:
where:
If diff > 0
Otherwise
If diff < 0
Otherwise
In figures below, the Adaptable RSI is shown as compared to standard RSI:
Fig 1. Period 14, method SMA
Fig. 2. Period 14, method EMA
Fig. 3. Period 14, method SSMA
Fig. 4. Period 14, method LWMA
