Skip to content
All library documents

Smoothed RSI Variants with Automatic Fibonacci Levels

Article MQL5 code base
Read the original

Summary

This indicator combines RSI calculations with automatically displayed Fibonacci levels. It offers seven RSI variants: Cutler’s, Ehlers’ smoothed, Harris’, Rapid RSI, standard RSI, RSX, and Slow RSI. The levels are intended to help estimate the current RSI value within a Fibonacci framework.

A price-smoothing setting above one selects an RSI (OMA) calculation; a setting at or below one uses RSI directly. The description gives no formula for the smoothing or level placement, and provides no examples, testing, or evidence that the levels improve interpretation or trading results. It describes an indicator rather than a complete trading strategy, so it does not specify entry rules, exits, or risk controls.

Key ideas

  • The indicator displays automatic Fibonacci levels alongside an RSI value.
  • A price-smoothing setting above one selects an RSI (OMA) variant.
  • At settings of one or less, the indicator calculates RSI without that smoothing mode.
  • The user can choose among seven RSI types.
  • The description does not explain how the levels are calculated or validate their usefulness.

Tags

Technical indicators

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