RBCI - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources

Vladimir Kravchuk

"A new adaptive approach to following trends and market cycles"

The range bound channel index (RBCI) is calculated through the channel (bandwidth) filter (CF).

The channel filter performs two functions at the same time: eliminating the low-frequency trend formed by the low-frequency components of the spectrum; and eliminating the high-frequency noise formed by the high-frequency components of the spectrum.

The simplified formula for RBCI calculation is as follows:

RBCI(bar) = FATL(bar) –SATL(bar)

When RBCI approaches its local maximum, the price approaches the upper boundary of the trading channel; when RBCI approaches its local minimum, the price approaches the lower boundary of the trading channel. Let us mark the main properties of the RBCI index. This is a quasi-stationary (i.e. almost stationary) process, limited by the frequency range above and below.

RBCI filter coefficients

The indicator uses SmoothAlgorithms.mqh and IndicatorsAlgorithms.mqh classes. The use of the class "Average price series for intermediate calculations without using additional buffers" is disclosed in detail in the article.

Attachment download

📎 indicatorsalgorithms.mqh (11.6 KB)

📎 smoothalgorithms.mqh (133.8 KB)

📎 rbci.mq5 (11.85 KB)

📎 rbci_.mq5 (6.58 KB)

Source: MQL5 #408