Everything about RSI - page 99
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What is the difference compared to regular rsi?
it's yellow?.........
What is the difference compared to regular rsi?
It is supposed to calculate the RSI the "Wilders way"
I think that there is some kind of a confusion about the "Wilders way"
Welles Wilder uses a sort of ema that has alpha parameter calculates as 1/period (unlike the ema which has the alpha parameter calculated as 2/(1-period)).
Now, what is less known, is that Wilders ema is exactly the same as smma in values (smoothed moving averages - and that is what is used in metatrader version of rsi as well as in the WRSI indicator - that is why the results are exactly the same). If we were to do it the Wilders' way to the letter, we should use the Wilders ema, but that would not change the results compared to the existing versions.
Dear Mladen and MrTools,
Any chance this indicator be made nmc. Thanking you in advance. Much appreciated.
arrow_rsi-8_cross-55_45.mq4
Try it out now. It should alert only on a first closed bar (there was an alert in the original indicator but it was commented - all I did is un-comment it (helas - without checking). Now added a check to alert on fist closed bar only)
Dear Mladen and MrTools,
Any chance this indicator be made nmc. Thanking you in advance. Much appreciated.
arrow_rsi-8_cross-55_45.mq4Hi Sameermehta74, made it nmc.
Hi Sameermehta74, made it nmc.
Nice work
Thanks
Abhinav Here you go : smoothed_rsi_histo.mq4
Hi mladen,
Can you please convert this version into multi time frame version.
Regards,
Abhinav
Hi mladen,
Can you please convert this version into multi time frame version.
Regards,
AbhinavAbhinav
Here is the multi time frame version of that indicator : smoothed_rsi_histo_mtf.mq4
Abhinav Here is the multi time frame version of that indicator : smoothed_rsi_histo_mtf.mq4
Really Thankful Mladen,
Regards,
Abhinav
Hi Sameermehta74, made it nmc.
I took the liberty to make some other versions out of this one.
One with levels 40-60, another one with levels 30-70 and one with levels 20-80.
I also renamed them, for me the name was too long, hope you don't mind.