Hey fellow traders!
Today, I want to introduce you to MyRsi, a powerful indicator for MetaTrader 4 that’s based on a unique variation of the traditional RSI. If you’ve been using the standard RSI, you might want to give this one a try!
This version is inspired by a concept from John Ehlers, who tweaked the RSI calculation to create something special. While the original RSI is a staple in many trading strategies, MyRsi offers a fresh perspective that can enhance your trading decisions.
What Makes MyRsi Different?
Here are some key differences that set MyRsi apart from the built-in RSI:
- It ranges from -1 to 1, which means the zero cross can act as a signal.
- The values and signal levels differ significantly from the standard RSI; for example, if you're accustomed to using level 50 as a signal in the standard RSI, you might find that MyRsi provides different insights.
My Recommendations:
- Use MyRsi just like you would with any other RSI indicator. Play around with it and see how it fits into your strategy!
In conclusion, MyRsi could be a game-changer in your trading toolkit. Whether you’re a seasoned pro or just starting, experimenting with different indicators like MyRsi can help you find what works best for your trading style.
Happy trading!
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