Oscillating indicator RSI Rendiment is a logarithmic RSI.
It has six adjustable parameters:
RRSI = (RSI + Rendiment) / 2.0
Rendiment = Rendiment X * LOG(Close/CloseRange)
Close = current Close price
CloseRange = Close price Normalization range bars ago
LOG - natural logarithm
Normalization reduces the calculated data of Rendiment to the RSI oscillator range:
NormRendiment = ((Rendiment - Min) / (Max - Min)) * 100.0
Max, Min - maximum and minimum values of Rendiment within the Normalization range
Fig. 1. Normalized RSI Rendiment
Fig. 2. Non-nomalized RSI Rendiment
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/23539