Ehlers IFT of Smoothed RSI for MT5

The Ehlers IFT of Smoothed RSI Indicator for MT5 is essentially a dynamic channel displayed within own window instead directly on chart. As the name suggests, this is a sophisticaed combination of Inverse Fisher Transformation and smoothed Relative Strenght Index.

Anatomy and trading suggestions

As you can see it consits of two outer bands and a single middle line. What’s more, there is also a signal line corresponding to price moves and fluctuactions. When it moves outside the upper band it gets colorized to green as well as the area between them. This is a overbought and bearish scenario and traders should rather expect reversal. Similarly, the opposite setup is marked with orange color for oversold and potential bullish case.


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