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Views:: 4818
Rating:: (8)
Published:: 2018.12.29 19:41

Rsi (normalized) (extended).mq5 (12.42 KB) view

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Theory :

Reasons for applying min/max normalization on RSI were explained here : Normalized RSI . This version is adding some options that can help using the indicator for trading decisions : multiple choice of color changes (on outer levels cross, on level 50 cross or on slope change) and some visual aids that can help see the current state of the RSI on a glance

Usage :

You can use color changes of the indicator as signals, or any other strategy based on RSI

Normalized RSI

Smoothing Average

An EA based on indicator iMA (Moving Average, MA). Reverse of signals. Lot size is either fixed or based on risk percentage.

Extended normalized RSI - on chart version

Self advance decline line

Extended normalized RSI - indicator for MetaTrader 5