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AMA smoothed RSI - floating levels - indicator for MetaTrader 5
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- 5201
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- Published:
- 2018.12.22 09:40
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Theory :
Some might think that using smoothing prior to
rsi calculation is the same as smoothing the rsi value. As a vivid
example, you can compare this version (when the RSI is smoothed after
the calculation) to the version that uses (smoothed prices (originally
published here : RSI of AMA
). As you can see they are quite different in a lot of ways. And it
also shows why a "generalized" AMA was needed (now it can calculate
smoothed value of any other value, not just of price).. But, in order to make it more usable (since the color change of the
slope change or some fixed level cross tend to be "not-so-usable"
signals) this version adds floating levels to the indicator.
Usage :
It can be used in a same way as any Ris(oma) indicator or as any Rsi itself. Or you can use color changes as signals
RSI of AMA - floating levels
AMA smoothed RSIAdaptive Moving Average (AMA) smoothed RSI