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You liked the script? Try it in the MetaTrader 5 terminal
Cuttlers RSI adaptive EMA with floating levels - indicator for MetaTrader 5
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- 3297
- Rating:
- Published:
- 2018.09.18 21:36
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Background :
This indicator is an extended version of the Cuttlers' RSI adaptive EMA indicator (originally published here : Cuttlers RSI adaptive EMA )
Extension added :
In order to avoid some false signals (since the slope of the Cuttlers' RSI adaptive EMA can change too many times in ranging market) this version is adding floating levels as a criteria for trend change. You have an option to chose between two color changing modes :
- color change when outer levels are crossed
- color change when middle level (a sort of a "zero line") is crossed
Usage :
Use color change as signal. Some experimenting with levels is advised prior to usage in live trading
Cuttlers RSI adaptive EMA ribbon
Cuttlers RSI adaptive EMA ribbon
Cuttlers RSI adaptive EMACuttlers RSI adaptive EMA