The purpose of the “trend strength” is to try to determine when the change of some other indicator is significant enough to make it a trend. Usually the “trend strength” indicator was using smoothed RSI.
This version is using RSX. Since the RSX is a “smoother RSI” (without a lag), it makes it a very good basis to be used in the trend strength indicator calculation and produces entry points without too much false signals.
RSX of RSX - indicator MetaTrader 5 History : The original idea for this indicator comes from Mark Jurik (the original inventor of RSX - Relative Strength…
Trend Strength Average - indicator MetaTrader 5 Usually Trend Strength indicators are using oscillator based indicators for trend strength assessment. This version changes that. It can use…
