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rocket rs i
Info
The rocket rs i is a Indicator for MetaTrader 5 that theory: is calculated the original way, it is producing exactly the same results as the original and has some options added:you can chose the price (original uses close only)you can chose to calculate fisher transform of the "rocket" rsi or to see the "rocket" rsi itselfyou have 3 coloring options:color changes on slope changecolor changes on zero line crosscolor changes on levels cross (which is what has been used as trigger for entries in the original article)usage: you have to experiment with this indicator to find interesting settings. one is at the example picture (you can see the settings from the picture).
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 rocket 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
theory: is calculated the original way, it is producing exactly the same results as the original and has some options added:you can chose the price (original uses close only)you can chose to calculate fisher transform of the "rocket" rsi or to see the "rocket" rsi itselfyou have 3 coloring options:color changes on slope changecolor changes on zero line crosscolor changes on levels cross (which is what has been used as trigger for entries in the original article)usage: you have to experiment with this indicator to find interesting settings.
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: rocket rs i - another powerful indicator for MetaTrader 5 traders.
theory:
is calculated the original way, it is producing exactly the same results as the original and has some options added:
Also recommended: rocket rs i pivots - similar indicator with strong performance on MetaTrader 5.
you can chose the price (original uses close only)you can chose to calculate fisher transform of the "rocket" rsi or to see the "rocket" rsi itself
you have 3 coloring options:
color changes on slope change
color changes on zero line cross
color changes on levels cross (which is what has been used as trigger for entries in the original article)
usage:
you have to experiment with this indicator to find interesting settings. one is at the example picture (you can see the settings from the picture). in any case, when you set it up, you can use the color change as signal.
You may also like: color xp w m a digit - 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.