Corr RSI – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • This is the “corrected” version of RSI. It can calculate the usual 7 types of RSI :

    • Cuttler’s RSI
    • Ehlers’ smoothed RSI
    • Harris’ RSI
    • Rapid RSI
    • RSI
    • RSX
    • Slow RSI

    can turn the “correcting” on or off (using the “correction” period).
    Also, 4 types of color/trend/state changes are available. It is similar to step rsi but it should not be mixed with it. They are completely different indicators. A usual, you can turn the “correction” on and off and you can chose the criteria for “trend” or over bought / over sold finding out based on:

    • on slope change
    • on outer levels cross
    • on middle level (“fake zero line”) cross
    • or on original rsi value cross (in which case rsi is used as a sort of a signal line)

    The usual parameters experimenting is advised. The above example on a larger scale:

    Get E-Book Worth $100 for Free!!!

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
  • 0/5 (0 Reviews)