RS S
Info
The RS S is a Indicator for MetaTrader 5 that ian copsey's indicator rss (relative spread strength) was presented in stocks & commodities in october, 2006. The indicator has seven configurable parameters:Fast MA period- fast EMA period;Slow MA period- slow EMA period;RSI period- RSI calculation period;Smoothing period- smoothing period;Applied price- the calculation price;Overbought level- overbought level;Oversold level.
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 RS S
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
Ian Copsey's indicator RSS (Relative Spread Strength) was presented in Stocks & Commodities in October, 2006.
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: Price Channel Indicator - another powerful indicator for MetaTrader 5 traders.
Ian Copsey's indicator RSS (Relative Spread Strength) was presented in Stocks & Commodities in October, 2006.
Also recommended: Multi-Timeframe Moving Average Indicator (v03) - similar indicator with strong performance on MetaTrader 5.
The indicator has seven configurable parameters:Fast MA period
- fast EMA period;
Slow MA period
- slow EMA period;
RSI period
- RSI calculation period;
Smoothing period
- smoothing period;
Applied price
- the calculation price;
Overbought level
- overbought level;
Oversold level
.
Calculation:
RSS = MA(RSI, Smoothing period)
where:
RSI = RSI(Fast EMA(Price) - Slow MA(Price))
You may also like: Multi-Timeframe Relative Strength Index (MTF RSI) Indicator for MT4/MT5 - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.