Background :

This indicator is an extended version of the RSI adaptive EMA indicator (originally published here : RSI adaptive EMA )

Extension added :

In order to avoid some false signals (since the slope of the RSI adaptive EMA can change too many times in ranging market) this version is adding floating levels as a criteria for trend change. You have an option to chose between two color changing modes :

• color change when outer levels are crossed
• color change when middle level (a sort of a "zero line") is crossed
  

Usage :

Use color change as signal,. Some experimenting with levels is advised prior to usage in live trading