Is There A Better Indicator Than RSI
By Trading Automation
- Easy install — copy & attach to chart
- Works on MT4 and MT5
- Free updates
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Alternatives to Address RSI Weaknesses
- Stochastic RSI: Applies the stochastic formula to RSI values instead of price data, making it far more sensitive for catching short-term overbought or oversold turns.
- MACD (Moving Average Convergence Divergence): Measures the relationship between two moving averages to show trend momentum and direction changes, reducing false whipsaws common in RSI.
- MFI (Money Flow Index): Combines price and volume data (unlike RSI, which only tracks price velocity) to measure buying and selling pressure more accurately.
- TSI (True Strength Index): Uses double-smoothed price changes to filter out market noise and provide cleaner centerline or signal-line crossovers.
To see a detailed comparison of an advanced RSI variant designed to minimize noise and false signals, watch this overview:
Are You Tired of RSI False Signals? Try This Better Version of RSI on ...
Get the robot and indicator used in this guide — free download for MT4 / MT5.
8,5K views · 2 years ago
YouTube · Soheil PKO
How to Install on MetaTrader
- Download the file and extract it.
- In MetaTrader open File → Open Data Folder → MQL4/MQL5.
- Copy robots to "Experts" and indicators to "Indicators".
- Restart MetaTrader and drag the tool onto a chart.
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