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Relative Strength Levy Indicator is based on the assumption that, securities which exhibited a large relative strength in the past will also develop relatively strongly in future, and conversely.
It is compare on the performance of the past with the performance of last observation period. Calculation:
Arithmetic mean of the candle closing price over the observation period.
The result is plotted around the 1.0 mark.
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Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt4 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on Relative Strength Levy MT4 for MetaTrader 4.mq4
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Modify settings or press ok
Indicator for MetaTrader 4.mq4 is available on your Chart
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It is compare on the performance of the past with the performance of last observation period. Calculation:
Arithmetic mean of the candle closing price over the observation period.
The result is plotted around the 1.0 mark.
C is Close and MA is the Moving Average.
Interpretation:
- If an instrument has an RSL of greater than 1, it is more likely than not, the instrument is more than weak in the past.
- Second interpretation of Levy is to first divide the standard deviations of the last 27 weekly closing prices. The intention of this method is to determine the volatility of the securities being observed.
Relative Strength Levy MT4 Indicator – Download Instructions
In order to transform accumulated history data, you need to install a MetaTrader 4
Relative Strength Levy MT4 – it is a MetaTrader 4 indicator that allows you to detect several changes and dynamics in price that many traders can’t estimate or see without an indicator, which highlights its essence and usage.
Accordingly, traders can draw conclusions and make estimates about how the prices will change based on the information they have and then they can modify their strategy for better trading.
How To Install Relative Strength Levy MT4 indicator for MetaTrader 4.mq4?
Download indicator for MetaTrader 4.mq4Copy Relative Strength Levy MT4 to Directory / experts / indicators /
Start or restart your Metatrader 4 Client
Select Chart and Timeframe where you want to test your mt4 indicator
Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
Right click on Relative Strength Levy MT4 for MetaTrader 4.mq4
Attach to a chart
Modify settings or press ok
Indicator for MetaTrader 4.mq4 is available on your Chart
How to remove Relative Strength Levy MT4 Indicator for MetaTrader 4.mq4 from your Metatrader 4 Chart?
Select the Chart where is the Indicator running in your Metatrader 4 ClientRight click into the Chart
“Indicators list”
Select the Indicator and delete
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