Hey traders! If you're familiar with the MCDx Smart Money indicator, I've got some news for you. It's time to clear the air—this isn’t about bankers, smart money, or retail traders. At the end of the day, it’s all about the RSI.
How to Utilize the MCDx Indicator
Let’s break it down step by step:
- Get the RSI Value: First, you’ll want to retrieve the RSI value using the following code:
- Calculate the Difference: Next, subtract your base value from the RSI value you just calculated:
- Apply Sensitivity: Now, multiply the result from the previous step by your sensitivity factor:
- Clamp the Value: Finally, you’ll want to ensure that the value stays within a range of 0 to 20. If the value exceeds 20, cap it at 20. If it drops below 0, set it to 0:
iRSI(NULL, 0, period, PRICE_CLOSE, pos)
(iRSI(NULL, 0, period, PRICE_CLOSE, pos)-base)
sensitivity * (iRSI(NULL, 0, period, PRICE_CLOSE, pos)-base)
if (rsi > 20) { rsi = 20; } if (rsi < 0) { rsi = 0; }
And there you have it! The MCDx indicator, stripped down to its essence. It’s a straightforward tool that can provide valuable insights when used correctly. Happy trading!
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