SSM RSI Pivot - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

The raw calculation of RSI (in a nutshell) is as follows:

Add changes to change up and down. From these sums, we can calculate the RSI (relative strength index). In that particular step, Welles Wilder used what is sometimes called Wilders EM to get a smoother result, which gives our space [generating various different RSI types by using different methods for the smoothing type of the last step

It uses a super smoother for RSI calculations. It produces results similar to RSX (invented by Mark Jurik), but the differences are significant enough to be treated as a separate RSI type

Additionally, this version adds pivot calculations in this type of RSI. Pivots are calculated based on the RSI itself and can display 4 possible types:

The selected time range is used only for the pivot (the time range is used as a "separator" for the pivot). RSI is always calculated based on the current time frame

You can use it as any other RSI

Attachment download

📎 ssm_rsi_gpivotsn.mq5 (24.96 KB)

Source: MQL5 #24662