synthetic rs i
Info
The synthetic rs i is a Indicator for MetaTrader 5 that the idea of this indicator is simple:instead of using one rsi, the indicator is using 3 instances of rsi. those 3 instances of rsi are then used to calculate the "synthetic" value (that is not an average of the 3 since the calculation differs from an average).
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 synthetic 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
the idea of this indicator is simple:instead of using one rsi, the indicator is using 3 instances of rsi.
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: heiken-ashi indicator: a synthetic candlestick approach - another powerful indicator for MetaTrader 5 traders.
the idea of this indicator is simple:
Also recommended: iSpread: Synthetic Symbol Creation and Analysis for Pair Trading - similar indicator with strong performance on MetaTrader 5.
instead of using one rsi, the indicator is using 3 instances of rsi.
those 3 instances of rsi are then used to calculate the "synthetic" value (that is not an average of the 3 since the calculation differs from an average).
as an addition, the prices are pre-filtered prior to be used in rsi calculation. if you wish to omit that part, simply set all the ema periods to be less than or equal to 1.
You may also like: pc a synthetics - recycle legacy - 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.