I came across a different way of plotting the RSI. The Difference between the RSI and the smoothed RSI value (A long term Simple Moving Average) is bias with a value of 50. This is further smoothed and plotted. The result is a smoothed value duplicating the original RSI curve. The resulting smoothed RSI value is a much better representation compared to the original RSI curve which is much jagged. Additionally we can plot a signal line like we do for the MACD. Check it out yourself.
Below is comparison of the original RSI and the smoothed RSI.
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What do the RGB colors correlate to?
ReplyDeleteKarthik, do you have the smoothed RSI as an mt4 indicator?
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Maybe you could email me? Thanks
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Wow.!! Great job done. keep up the good work. Is it possible to develop some adaptive indicators eg RSI, etc.. Thx Again -- Ravi
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