Experiments ...

Starting with RSI

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This experiment will show how important is to know all the phases of calculating something

The example is using well known RSI indicator, but by changing the averaging method used in the calculation, it allows us to have rsi that is anything but the original.

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First the indicator : rsi_experiment.mq4

Original Welles Wilders' RSI uses what is sometimes known as Wilders EMA. This indicator allows you to change that and to use on of the built in averages (SMA, EMA, SMMA and LWMA). And then you have, this :

You would expect 4 more types of RSI. But if you take a look at the result, you shall see that the original rsi and the rsi using smma for calculation is the same. And you are not wrong. That is supposed to be so. It is due to the fact that smma and Wilders ema are the same (regardless of the different math used to calculate it). It is less known, but from now on, hen someone tells you to use Wilders ema, simply use same period smma

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So much for this "experiment"

And a bit extended upper "experiment" - added price smoothing : rsi_experiment_extended.mq4

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So, now, with a couple of very simple intervention, we have 3 new RSI types and all all already a "rsi of ma" too

PS: example is RSI of EMA using LWMA price smoothing, The rest is default

Can we have a version with floating levels, please?

Good idea. Will be made

Metatrader 5 version of rsi experiment posted here : https://www.mql5.com/en/forum/180596/page12

That will be nice

Hmm, I always like these experiments.

The Stoch CG exp was also a good one !

Dearest MLADEN,

thanks for opening a new way for new ideas, a new laboratory for experimenting is opened and i am not aware of.

PascalD

Here is a version with floating levels (and a sort of "trending mode" for color changes - it does not use slope for color change now) : rsi_experiment_extended_fl.mq4

mladen:

PascalD

Here is a version with floating levels (and a sort of "trending mode" for color changes - it does not use slope for color change now) : rsi_experiment_extended_fl.mq4

Thank you