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Adaptive RSI indicator for MetaTrader 4 Forex trade

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Adaptive RSI indicator for MetaTrader 4 Forex trade

Postby wqking » Fri Jan 29, 2016 1:04 pm

http://www.kbasm.com/adaptive-rsi/

Adaptive RSI is an advanced Relative Strength Index technical indicator for MT4 Forex trading. Adaptive RSI can change the look back period dynamically based on current Forex market condition. Adaptive RSI adapts to the Forex market changes as much as possible. Adaptive RSI is more advanced than traditional RSI, aka Wilder RSI.

Platform: MetaTrader 4 build 600 or later

Main features
  • 6 adaptive methods in one indicator!
  • 7 applied price types. Beside 6 MetaTrader price types: close, open, high, low, median, typical, and weighted, John Ehlers RSI smoothing is also supported.
  • No repaints, no recalculation.
  • Automatically determines the best period of RSI to adapt to the current market conditions.
  • Shows buy and sell signal arrows on the bar chart.
  • Generates alerts for the signals.
  • Works with 4 and 5 digits brokers.
  • High quality. The indicator is written in C++ and is a part of my ftap project.

How is the look back period determined

There are six adaptive methods in Adaptive RSI, all works in the similar way. In ranging, sideways, swing, choppy, and oscillating market, the look back period tends to be shorter. In trending market, the period tends to be longer. The stronger trend, the longer period. The weaker trend, the shorter period. With this mechanism, in trending market, Adaptive RSI is less likely to change its direction so we can ride on the trend for longer time. And in ranging market, Adaptive RSI will change its direction more often so that we can either catch the upcoming trend early or catch each reversals in the market.

How to use Adaptive RSI indicator

Since Adaptive RSI is more sensitive to market condition change than traditional RSI, Adaptive RSI is a better indicator for over bought/sold strategies, and the levels should better be 80 and 20 rather than 70/30 in traditional RSI. I personally don't recommend to use Adaptive RSI as the only indicator for entry/exit. It should be used together with other indicators or price action. For example, we may determine the current market trend with EMA, and only buy at over sold in a bullish market and only sell at over bought in a bearish market. More strategies are waiting for you to research.

This indicator is free to try. Read more information, download the indicator, and watch more screenshots from
the product site http://www.kbasm.com/adaptive-rsi/
wqking
 
Posts: 1
Joined: Fri Jan 29, 2016 12:58 pm

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