Extended Normalized RSI - Chart Version - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The reason for applying min/max normalization to the RSI is explained below: Normalized Relative Strength Index . This version adds some options that can help using this indicator for trading decisions: multiple color change options (outer level crossover, 50-level crossover or slope change) and some visual aids to help understand the current status of the RSI at a glance. and it displays everything in the main chart...
You can use the indicator's color change as a signal, or any other strategy based on RSI
“Big Picture” Example
Attachment download
📎 rsi_vnormalized8_bon_chart7.mq5 (13.3 KB)
Source: MQL5 #23944
Extended Normalized RSI - Chart Version - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Extended Normalized RSI - Chart Version - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are resources related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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