Reverse_Engineering_RSI - MetaTrader 5 Script - MT4/MT5 Resource
Based on Giorgos Siligardos' June 2003 article "Indicator Reverse Engineering the RSI's Revenge" published in Stocks & Commodities magazine.
This indicator takes the inverse mathematical transformation of the oscillator RSI into price and helps hypothesize where the next day's closing price will be roughly if RSI reaches a certain value.
The indicator has four input parameters:
If RSI_MA= 100:
RSI_MA = MA(RSI, MA period, method) RSI = RSI(RSI period) ADC_MA = EMA(DN, 2*RSI period-1) AUC_MA = EMA(UP, 2*RSI period-1)
If AppPrice > PrevPrice:
If AppPrice <= PrevPrice:
Attachment download
📎 reverse_engineering_rsi.mq5 (13.21 KB)
Source: MQL5 #21046
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