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A Double-Smoothed RSI Indicator Displayed as a Colored Cloud

Article MQL5 code base
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Summary

The document identifies an indicator that presents a double-smoothed Relative Strength Index as a colored cloud. This describes its core transformation and visual format, but does not explain the smoothing formula, the cloud’s color rules, or how to interpret its signals. It therefore offers a limited introduction rather than a complete method for using the indicator.

The implementation depends on classes from a smoothing library that must be available in the MetaTrader include directory. The text also notes that an earlier version appeared in MQL4. It provides no parameter guidance, market examples, comparison with standard RSI, or backtest evidence, and it makes no claims about profitability. Readers can learn the indicator’s general form and a software dependency, but would need the implementation details or further documentation to assess its behavior or use it in a trading process.

Key ideas

  • The indicator displays a double-smoothed RSI as a colored cloud.
  • Its implementation relies on external smoothing classes for MetaTrader.
  • The description gives no rules for interpreting cloud colors or generating trades.
  • No performance evidence, parameter guidance, or market examples are provided.

Tags

Technical indicatorsMean reversion

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.