dsl - rs i of average
Info
The dsl - rs i of average is a Indicator for MetaTrader 5 that this indicator is using filtered prices for rsi (instead of using "raw" prices) and is using discontinued signal line for trend assessment (instead of using slope or fixed levels). price filtering prior to rsi calculation helps in making less false signals without adding significant lag.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use dsl - rs i of average
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 is using filtered prices for rsi (instead of using "raw" prices) and is using discontinued signal line for trend assessment (instead of using slope or fixed levels).
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Moving Average Dashboard MT5 - Professional EMA SMA Trend Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
this indicator is using filtered prices for rsi (instead of using "raw" prices) and is using discontinued signal line for trend assessment (instead of using slope or fixed levels).price filtering prior to rsi calculation helps in making less false signals without adding significant lag.
discontinued signal lines are helping in making the significant levels a sort of dynamic levels - instead of using fixed levels, indicator is adjusting itself to market (and rsi) changes - thus making it a sort of an adaptive indicator (i.e. instead of adapting the rsi value, significant levels are adapted, and that effectively makes this indicator adaptive).
ps: usual set of built in averages is supported for prices filtering. setting the average period to 1 makes it equal to "regular" rsi.
You may also like: Relative Moving Average (RMA) Indicator for MT5 - excellent alternative for indicator users on MetaTrader 5.
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.