normalized rs i
Info
The normalized rs i is a Indicator for MetaTrader 5 that some indicators are working equal for all calculation lengths some are not. one example that is not is rsi.
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 normalized 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.
What this tool does
some indicators are working equal for all calculation lengths some are not.
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: Stochastic Index Indicator (Normalized Smoothed Q-Period Stochastic) - another powerful indicator for MetaTrader 5 traders.
Also recommended: Symmetrical Normalized Oscillator Indicator - similar indicator with strong performance on MetaTrader 5.
some indicators are working equal for all calculation lengths some are not. one example that is not is rsi. even though it is taken for granted that it oscillates in 0-100 range (so it is normalized already) and regardless of it's obvious usefulness, every serious study stresses not to use lengths > 10 for rsi.the "rsi problem" is simple: the longer the calculating period, the flatter the rsi becomes. here is an example of a 50 period rsi:
as it is obvious, it is hardly usable for anything in the original for such a long calculating periods. there were quite a few attempts to change that: smoothed rsi (that partially avoids that trap, but it quickly loses the advantage over standard rsi), inverse fisher transform of rsi (which also is flattened after some time - here is a comparison of rsi 50 and inverse fisher transform of 50 rsi), and some more.
this is one more way that it can possible be done. here is the example of the same rsi from above but "normalized" to -50 to +50 range:
some of the issues that were observed are fixed and, the most important, "flattening" is not there any more.
ps: some experimenting is advised (as usual when it comes to "experiments" like these).
You may also like: Normalized Volume Indicator - 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.