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Published:

2018.08.07 12:18

STD Trend envelopes - rsi.mq5 (10.59 KB) view

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This version of Trend Envelopes RSI indicator differs in one significant point: instead of using fixed value (5) for envelopes calculation, standard deviation (adjusted by multiplier) of the calculated RSI is used for envelopes calculation.

Also, the RSI indicator used in this version can be pre-smoothed. That is done in order to avoid too much false signals. Pre-smoothing method used can be one of the basic averages types (SMA, EMA, SMMA or LWMA) or, if you use smoothing period less than or equal to 1, no smoothing will be used.

The RSI value displayed is a sort of a "generic" RSI. It is an RSI of (RSI(High) + RSI(Low) + RSI(Close))/30. You can not find a similar RSI just by searching in the rest of the RSI types available.

STD Trend Envelopes

Trend Envelopes indicator that uses Standard Deviation for the price change calculation.

ATR Trend Envelopes

Trend Envelopes indicator that uses ATR for the price change calculation.

STD Trend Envelopes of Averages

Trend Envelopes indicator that uses Standard Deviation for the price change calculation and is adding prices smoothing prior to be used in calculations.

ATR Trend Envelopes of Averages

Trend Envelopes indicator that uses ATR for the price change calculation and is adding prices smoothing prior to be used in calculations.

STD Trend Envelopes - RSI - indicator for MetaTrader 5