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Reverse_Engineering_RSI - indicator for MetaTrader 5
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- 5590
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- Published:
- 2018.07.09 13:31
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Based on Giorgos Siligardos's article "The Revenge Of The Indicators Reverse Engineering RSI" published in the Stocks & Commodities magazine in June, 2003.
the indicator performs an inverse mathematical transform of oscillator RSI into price and helps assume, at which approximate level the close price of the next day will be, if RSI reaches a certain value.
The indicator has four input parameters:
- RSI period - period of RSI.
- MA period - MA period;
- Method - calculation method;
- Applied price - price used for calculations.
Calculation:
If RMA != 0:
ReRSI = Applied price + X * (100.0 - RSI_MA) / RSI_MA)
Otherwise:
ReRSI = Applied price + X
where:
If RSI_MA= 100:
X = (RSI Period - 1.0) * (ADC_MA * RSI_MA / (100.0 - RSI_MA) - AUC_MA)
Otherwise:
X = 0
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 Applied price > PrevPrice:
UP = Applied price - PrevPrice
If Applied price <= PrevPrice:
DN = PrevPrice - Applied price
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/21046
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