mql5

Rocket RSI - indicator for MetaTrader 5

As described in the May 2018 edition of Technical Analysis of Stocks & Commodities by John F. Ehlers. This indicators is an enhancement to the traditional RSI for detecting cyclical reverses.
How to use this indicator in practice:

• If the indicator spikes below -2, this shows a high probability of a bullish reversal and is therefore a buy signal.
• If the indicator spikes above 2, this shows a high probability of a bearish reversal and is therefore a sell signal.