Relative Currency Strength Index

General Information

This indicator has been programmed for the MetaTrader platform, Version 4.x
and works on all currency pairs and all time frames.

The RCSI is based on a standard RSI. The special feature of this indicator is that it not only calculates the relative strength of a currency pair, but the relative strength of both currencies from all currency pairs supported by your broker. This way we get two RSI-values, one for first currency, and once for the second currency.

But thats not all. To increase accuracy, the indicator has an input-option to calculate the RSI periods using the dominant cycle as described by John F. Ehlers

Application of the RCSI is versatile. Whether as a confirmation for outbreaks or trend-following strategies, the RCSI is a must for any trading decision.

 

Functions

  • The Dominant Cycle: The forex market moves in cycles or wave motion. The length of these cycles is constantly changing. To determine the dominant cycle of a chart, there are several approaches. I think the best approach for the calculation of the dominant cycle was described by John F. Ehlers. Compared with other calculations, this calculation generates virtually no lag and is especially good for use in trading.
  • Adaptive: With the change of an input option the RCSI will convert in an adaptive indicator which uses the currently dominant cycle of each individual currency pair.
  • Fully configurable: You want to change the values used for the calculation or just adjust the colors of the indicator? No problem. The RCSI has many input options, so you can adjust it optimal for yourself.
  • Smoothing: It is possible to smooth the RCSI calculations with a amoving average for smoother results. The necessary settings can be made in the Input options.
  • Currency-Meter: To obtain an accurate and quick overview, you can view the current values in a currency-meter on your chart.
  • Including Source-Code: You also get the complete source code of the Indicator. This way you have the opportunity to expand or adapt the Indicator by yourself or the programmer of your choice. Special attention was paid to write the source code easy to read.

 

Screenshots

 

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Price: € 49.- incl. Vat

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Risk Disclaimer:
Currency trading involves substantial risk. Who trades on the forex, needs to advance independently familiar with the risks. This product is not an invitation to real trading with real money in the foreign exchange markets presents The author of this product does not purport to be complete and infallible at the statements made. The author and developer of this product is not responsible for any losses in foreign exchange markets or other investments. Gains in the past are no guarantee of profits in the future.