FX5_SelfAdjustingRSI - MetaTrader 5 Script - MT4/MT5 Resources

RSI oscillator, the boundaries of its overbought/oversold zones are represented by Bollinger Bands.

Indicator input parameters:

 //+------------------------------------------------+
//| Indicator input parameters |
//+------------------------------------------------+
Input unit length = 12 ; // RSI period
Input ENUM_APPLIED_PRICE RSI price = PRICE_CLOSE ; // RSI time series price
Enter double the band deviation = 2.0 ; // deviation
Input boolean MA_method= true ; // Use smoothing for Bollinger Bands
Enter integer shift = 0 ; // horizontal movement of the indicator in bars

The indicator was first implemented in MQL4 and published in the code base of mql4.com on April 29, 2008.

Figure 1. FX5_SelfAdjustingRSI indicator

Attachment download

📎 fx5_selfadjustingrsi.mq5 (9.23 KB)

Source: MQL5 #1731