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Views:: 3417
Rating:: (8)
Published:: 2018.07.09 12:42

Cutler_RSI.mq5 (13.05 KB) view

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An RSI version called Cutler's RSI is based on the simple moving average, non on the exponential moving average.

It has five input parameters:

Period - calculation period;
Method - calculation method (SMA by default);
Applied price - the calculation price;
Overbought - overbought level;
Oversold - oversold level.

Calculation:

Cutler's RSI = 100.0 - 100.0 / (1 + P/N)

where:

P = MA(pos, Period, Method)
N = MA(neg, Period, Method)
pos, neg - positive and negative differences between the current and the previous values of MA

Fig 1. SMA calculation method

Fig. 2. EMA calculation method

Figure 2. SMMA calculation method

Figure 4. LWMA calculation method

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21024

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