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rocket rs i
Info
The rocket rs i is a Indicator for MetaTrader 5 that as described in the may 2018 edition of technical analysis of stocks & commodities by john f. ehlers.
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
as described in the may 2018 edition of technical analysis of stocks & commodities by john f.
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.
as described in the may 2018 edition of technical analysis of stocks & commodities by john f. ehlers. this indicators is an enhancement to the traditional rsi for detecting cyclical reverses.
Also recommended: rocket rs i pivots - similar indicator with strong performance on MetaTrader 5.
this indicator has two settings:rsilength
- this needs to be half the dominant cycle period. for example, if applying to stocks or stock indexes, the cycle period would be monthly (20 bars on a daily chart) so you would set this variable to 10.
smooth
- the smoothing parameter of the indicator to control volatile swings. this should be set to no more than the value of rsilength.
how to use this indicator in practice:
if the indicator spikes below -2, this shows a high probability of a bullish reversal and is therefore a
buy
signal.
if the indicator spikes above 2, this shows a high probability of a bearish reversal and is therefore a
sell
signal.
an example of this indicator is shown in the image below.
You may also like: iMirror Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_plots 1
#property indicator_maximum 4
#property indicator_minimum -4
#property indicator_label1 "rocketrsi".......
⚠ 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.