Breakout_RSI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The Breakout RSI Oscillator is based on Howard Wang's article "Breakouts on the Relative Strength Index" published in Technical Analysis of Stocks and Commodities magazine (September 2015).
The indicator has three input parameters:
BRSI = 100.0 - 100.0 / (1.0+average P/average N)
Average P - SMA (P, period)
Average N - SMA (N, period)B power = B price * B intensity * B volume
B price = (previous opening price + highest price + lowest price + closing price)/4.0
B strength = (Closing - Pev opening)/(Maximum - Minimum)
B volume = volume + previous volume maximum value = maximum value (highest price, previous highest price)
Minimum value = minimum value (lowest price, previous lowest price)
Attachment download
📎 breakout_rsi.mq5 (11.37 KB)
Source: MQL5 #22374
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