Breakout RSI oscillator is based on the article "The Breakout Relative Strength Index" by Howard Wang in the magazine "Technical Analysis of Stocks & Commodities" (September 2015).
The indicator has three input parameters:
BRSI = 100.0 - 100.0 / (1.0+AvgP/AvgN)
AvgP - SMA(P,Period)
AvgN - SMA(N,Period)
BPower = BPrice * BStrength * BVolume
BPrice = (PrevOpen+Max+Min+Close)/4.0
BStrength = (Close-PevOpen)/(Max-Min)
BVolume = Volume + PrevVolume
Max = Max(High,PrevHigh)
Min = Min(Low, PrevLow)
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/22374
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