XRSI_Candle_Vol - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

The RSI_Candle_Vol indicator performs an additional averaging of the resulting candles. Similar averaging also applies to dynamic overbought/oversold levels.

 //+--------------------------------------------------------+
//| Indicator input parameters |
//+--------------------------------------------------------+
Input unit RSIP period = 14 ; // indicator period
input ENUM_APPLIED_VOLUME volume type = volume_scale ; // volume
Enter integer High level = + 7 ; // Overbought level
Enter integer low level = - 7 ; // oversold level
Input unit gap = 10 ; // points gap not taken into account
Enter Smooth_Method MA_SMethod=MODE_T3; // Average method
Input unit MA_length = 12 ; // Smoothing depth
Input integer MA_phase = 15 ; // Parameters for the first smoothing,
//---- For JJMA in the range of -100 ... +100, it affects the quality of the transition process;
//----For VIDIA, it is the CMO cycle, for AMA, it is the slow average cycle
Input integer shift = 0 ; // indicator moves horizontally (in bars)

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Figure 1.XRSI_Candle_Vol

Attachment download

📎 SmoothAlgorithms.mqh (130.2 KB)

📎 XRSI_Candle_Vol.mq5 (30.9 KB)

Source: MQL5 #21923