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T3-Filtered RSI with Value-Based Line Colors

Article MQL5 code base
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Summary

The document briefly describes a Rapid RSI indicator variant that applies T3 price prefiltering before presenting its RSI output. It also explains an MT5 display feature: the indicator line can change color across user-defined value steps, with 20 steps given as an example. This creates a color-coded view of changing indicator values, using a capability described as similar to one available in TradeStation.

The source does not explain the RSI calculation settings, the specific role of the T3 filter, how the color thresholds are assigned, or how traders should interpret the colors. It provides no chart examples, signals, backtest results, or comparison with an unfiltered RSI. The material is therefore useful as a concise description of an indicator’s filtering and visualization features, but it does not establish a trading strategy or show that the modifications improve decisions.

Key ideas

  • This Rapid RSI variant applies T3 price prefiltering.
  • The MT5 display can assign different colors to the line at user-defined value steps.
  • The document gives 20 steps as an example of the color segmentation.
  • No trading rules, performance evidence, or filter evaluation are provided.

Tags

Technical indicators

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