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

This indicator represents a combination of RSI and STARC (Staller Average Range Channel) and behaves similarly to the Bollinger Bands indicator: its channel narrows in stable markets and widens in volatile markets.

However, STARC is not based on closing prices and does not take into account the standard squared difference. It is calculated using the average true range (ATR), which provides more detailed information about market volatility.

The indicator has five input parameters:

 RSI = relative strength index (closing price, RSI period)

 MA = MA(RSI, smooth)
Top = MA + Top Line Multiplier * ATR
Bottom = MA - Bottom Multiplier * ATR

Where:

 ATR = MA(TR, ATR period)
 TR[i] = Abs(RSI[i] - RSI[i-1])
 Attachment download
 📎 rsi_starc.mq5 (12.38 KB)
 Source: MQL5 #20869