Figurelli RSI

Figurelli RSI

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Expands on Welles Wilder’s RSI indicator, tailored for larger time period use.

The main idea of the proposed RSI is better detect the signal overbought/oversold situations using larger periods for better trend detection in any timeframe.

For this, I did some changes to it performe as good for greater periods, like 120, introducing a gain variable.

So, if you use 120 period in original Wilder RSI, you can inject a gain to see the graph as well as small periods.

Parameters description:

– period: original RSI period

– gain: gain injected for greater periods better visualization

Example 1: the advantage of larger periods using Wilder RSI gain injection in EUR/USD H1

– in the graph we have the two indicators comparison: Wilder RSI (blue) x Figurelli RSI (red)

– our target is better detect signal points [1] and [4]

– note that original RSI with period 14 detects points [3] and [6] are almost the same, but points [1] and [4] are very differents

– in Figurelli RSI with period 120 and gain 10, we can see points [2] and [5] that better detect the signal overbought/oversold situations

Example 2: the advantage of larger periods using Wilder RSI gain injection in EUR/USD D1

same as example 1, in the graph we have the two indicators comparison: Wilder RSI (blue) x Figurelli RSI (red)

– our target is better detect signal points [1], [2] and [3]

– note that for Wilder RSI point [1] is oversold, while in Figurelli RSI point [2] is oversold

Adjustment tips:

– if you use gain 1 the Figurelli RSI will be equal to Wilder RSI

– if you increase your period, tries to increase the gain, so for 120 period you can try gain 10 to better see the great Wilder RSI visibility even in greater periods

MT4 Indicators – Download Instructions

Figurelli RSI is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.

Figurelli RSI provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

How to install Figurelli RSI.mq4?

  • Download Figurelli RSI.mq4
  • Copy Figurelli RSI.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
  • Right click on Figurelli RSI.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Figurelli RSI.mq4 is available on your Chart

How to remove Figurelli RSI.mq4 from your Metatrader 4 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

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MT4 Indicators Download below:

Figurelli RSI

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