Forex MTF RSI Smoothed Indicator

Forex MTF RSI Smoothed Indicator:

Recursive implementation of multi-timeframe smoothed RSI indicator.

The values of the standard Relative Strength Index indicator are smoothed using Simple Moving Average (SMA). To disable smoothing set the value of Smoothed <= 1.

The indicator uses the recursive call of itself for lower timeframes. This eliminates the need to create two indicators: the conventional and multi-timeframe (implemented by call of the conventional). Moreover, the multi-timeframe indicator can not work without conventional version. This code is useful rather as a demonstration of the special programming technique than unique oscillator for trading.

Test results:

Forex MTF RSI Smoothed Indicator

Copy and paste the file into the MQL5 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

Other forex trading Expert Advisors

Leave a Comment