Wilder's Relative Strength Index

Wilder’s Relative Strength Index

Wilder’s Relative Strength Index MT5 indicator for multiple cycles. The indicator helps to identify potential trading opportunities in different time frames.

This indicator implements the “Relative Strength Index (RSI)” developed by John Welles Wilder Jr., as described in his book—New Concepts in Technical Trading Systems [1978].

This indicator uses a revised equation for computational efficiency, but with the same mathematical outcome.

The code uses conditional compilation and will compile on both MQL4 and MQL5. Please note that all my CodeBase publications’ source code are now also available in “Public Projects” tab of MetaEditor under the name “FMIC”.

Wilder's Relative Strength Index  Wilder's Relative Strength Index

How to install Wilder’s Relative Strength Index Indicator in MetaTrader 5 Forex Trading Platform?

  • Extract the downloaded Wilder’s Relative Strength Index Indicator.zip file.
  • In the MetaTrader 5 trading platform, go to the “File” menu and click “Open Data Folder”.
  • Navigate to the MQL5 folder and open the Indicators folder.
  • Paste the Wilder’s Relative Strength Index Indicator.ex5 file(s) into the Indicators folder.
  • Restart the MetaTrader 5 platform.

Share Your Valuable Opinions