RSI Floating Level - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
It is clear that the RSI can suddenly become a trend indicator (since the levels remain at usable horizontal values even over long calculation lengths) and the problem of flattening is, at least in part on its larger side, solved this way. This way it gives some "new life" to the good old RSI.
Added populated arrays for overbought and oversold zones. Also added are options for rsi calculations ("regular" rsi, Wilder's rsi, rsx and Cuttler's rsi) as well as jurik smoothing to rsi values. Just an additional observation: since the level "floats above this level" and because this way the "flattening effect" is maximally avoided, it is also interesting to perform calculations using long RSI periods without losing the "signal".
Attachment download
📎 rsi_floating_levels_2.mq5 (10.73 KB)
Source: MQL5 #16768
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