Synthetic Smoothed RSI
Info
The Synthetic Smoothed RSI is a Indicator for MetaTrader 5 that the concept of this indicator is similar to the synthetic rsi, but with a key difference. Instead of relying on a single RSI, this indicator utilizes three separate RSI instances, which are then combined to derive a 'synthetic' value.
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 Smoothed RSI
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 concept of this indicator is similar to the Synthetic RSI, but with a key difference.
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 ATR Blend: Smoothed Candles and Early Entry Signals - another powerful indicator for MetaTrader 5 traders.
The concept of this indicator is similar to the Synthetic RSI, but with a key difference.Also recommended: AIS Smoothed Linear Trend Indicator - similar indicator with strong performance on MetaTrader 5.
Instead of relying on a single RSI, this indicator utilizes three separate RSI instances, which are then combined to derive a 'synthetic' value. This synthetic value is not a simple average of the three RSIs; it is calculated using a distinct method.
Additionally, the indicator includes a price filtering mechanism. The prices are pre-filtered before being fed into the RSI calculations. This filtering can be adjusted or disabled by setting the EMA periods to values less than or equal to 1.
You may also like: heiken ashi smoothed 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.