RSIIimproved - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

A combination indicator based on two RSI oscillators.

The indicator calculates the value of the RSI indicator using the RSIPeriodOriginal period and the RSI value using the RSIPeriodRotated period. It then rotates RSIPeriodRotated 180 degrees relative to the level of 50 pips (100-RSI). Find the difference between the original value of the first indicator and the reversed value of the second indicator. Then calculate the derivative of this difference.

The colored cloud consists of two RSI indicators.

The grayscale histogram is the difference between the original value and the inverted value.

The orange line is the derivative of the histogram (the rate of change of the difference between the original and inverted values).

Figure 1. RSIIimproved indicator

Attachment download

📎 rsiimproved.mq5 (10.84 KB)

Source: MQL5 #1788