MyRSI: An RSI Variant Ranging from Minus One to One
Summary
The document describes a MetaTrader 4 implementation of MyRSI, an RSI variation associated with John Ehlers. It distinguishes this indicator from the platform’s built-in RSI by its output scale, which runs from minus one to one, and by the resulting values and signals. Because the scale is centered on zero, a zero crossing can be used as a signal reference. The author suggests using it in the general manner of other RSI indicators.
The note does not explain the calculation, define entry or exit rules, or present charts, backtests, or other evidence. It also cautions that the indicator’s name refers to Ehlers’s concept rather than an original naming claim by the implementation’s author. Traders should not assume that familiar built-in RSI thresholds transfer directly: the different range produces different readings and signals, and the document gives no tested thresholds or market-specific guidance.
Key ideas
- MyRSI is presented as an RSI variation associated with John Ehlers and implemented for MetaTrader 4.
- Its values range from minus one to one, making zero crossings a possible signal reference.
- Its readings and signals differ from those of the built-in RSI.
- The document gives no formula, tested thresholds, or performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.