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Views:: 4981
Rating:: (25)
Published:: 2014.07.08 11:19
Updated:: 2016.11.22 07:32

rsiwithflat.mq5 (9.34 KB) view

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Relative Strength Index with the market flat state detection option.

If the market is flat, the colored indicator cloud shrinks and is located at the value of 50, and a thick blue line appears. The criterion for determining this state is a shrunk Bollinger. The critical Bollinger shrink value is fixed by a half of its bandwidth and defined in the indicator input:

input uint flat=100; // flat value in points

Figure 1. Indicator RSIWithFlat

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/11268

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RSIWithFlat - indicator for MetaTrader 5