MRS indicator mt5
MRS Indicator: Moving Relative Strength.Indicator developed by me to use custom Moving Average and characteristics of Relative Strength in one line.If you have any questions about the indicator, your comments are welcome.MRS featuresWorks for all tim
MRS Indicator: Moving Relative Strength.
Indicator developed by me to use custom Moving Average and characteristics of Relative Strength in one line.
If you have any questions about the indicator, your comments are welcome.
MRS features
Works for all timeframes.
100% non-repaint indicator.
Settings are changeable as a user needs.
Recommend to use this product on smaller timeframes: M5, M15.
Parameters
Period RSI - number of bars to calculate a RSI value. Recommended values 5-55
Price RSI:
Close price
Open price
High price
Low price
Median price
Typical price
Weighted close price
Scale period - number of bars to be used in the calculation of Period MRS.
Scale shift (points) - distance in points away from the line to show the deviation from the price according to the indicator settings.