Volatility adjusted RS I
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Volatility adjusted 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.
Description & Settings
RSI is, by definition, a momentum family indicator
PS: it is using custom RSI for calculation. It might seem that i would be faster to use built in RSI, but that would be misleading due to one fact : built in RSI would need to create new RSI for each new rsi period. Since we can not know in advance what exact periods are we going to need, it is impossible to (and it would be highly inefficient) to create all the instances of RSI that would eventually be needed in the adjusted rsi calculationsIn this case custom function(s) are the only possible acceptable solution
Usage as usual : apart from being adjusted (adaptive) the sage of the rsi should follow all the rules that traders use when rsi indicator is used for trading decisions
