UltraRSI trend indicator for MT5

UltraRSI indicator belongs to the large and popular Ultra family, which began with the once popular Ultra-Trend indicator. The basis of this filter for MT5 terminal is the RSI (Relative Strength Index), whose analysis of multiple signal lines shows the activity and phase of the trend movement.

UltraRSI indicator
UltraRSI indicator

The basis of the construction of the indicator is the parameter StartLength, which determines the value of the first signal line. Then, with step Step the RSI period is changed according to the formula

SignalPeriod(Number) = StartLength + Number * Step,

where Number changes from 0 to the StepsTotal parameter. All values obtained during the calculation are written to the array and participate in the calculation of the averaged RSI on each tick. The resulting value is averaged and plotted as a cloud to facilitate visual perception of the readings.

The averaging algorithm can be modified using the parameters: SMA, EMA, SMMA (smoothed moving average), LWMA (linear weighted moving average), JJMA (adaptive JMA averaging), JurX (ultra-linear averaging), ParMA (parabolic averaging), T3 (Tillson multiple exponential smoothing), VIDYA (averaging using Tuchar Chande algorithm), AMA (averaging using Perry Kaufman algorithm).

According to ForTrader.org technical experts, the UltraRSI indicator is an excellent tool for trend analysis that will be indispensable in many strategies. However, the fact that it processes a large amount of data makes it much more difficult to test and use in Expert Advisors.

Download the UltraRSI indicator for MT5
SmoothAlgorithms module (\MQL5\Include\)

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