RSI Candles - Smoothing - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources
The combination of 4 RSI values (high, low, open and close RSI) is displayed as a candle.
This version has the additional option of pre-smoothing before using the price in the calculation, which makes it an RSI-of-MA combination. To avoid price pre-smoothing, use a smoothing period less than or equal to 1.
Attachment download
📎 rsi_candles_-_smoothed.mq5 (13.79 KB)
Source: MQL5 #20968
RSI Candles - Smoothing - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resource Usage and Screening Suggestions
RSI Candles - Smoothing - MetaTrader 5 Script | Trading Script Download - MT4/MT5 resources are trading script related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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