Extended Normalized RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource
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 with trading decisions using this indicator: multiple color change options (crossover at outside levels, cross at level 50 or on slope change) as well as some visual aids to help see at a glance the current state of the RSI
You can use the indicator's color change as a signal, or any other strategy based on RSI
Attachment download
📎 rsi_6normalizeda_xextendedd.mq5 (12.42 KB)
Source: MQL5 #23943
Extended Normalized RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Extended Standardized RSI - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. 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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