Watch how to download trading robots for free

Find us on Telegram!
Join our fan page

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

Views:

5357

Rating:

(12)

Published:

2018.12.29 19:41

Rsi (normalized) (on chart).mq5 (13.3 KB) view

Download as ZIP, How to download code from MetaEditor

Need a robot or indicator based on this code? Order it on Freelance Go to Freelance

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. And it is made display all that in the main chart ...

Usage :

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

PS:

The "big picture" example

Extended normalized RSI

Normalized RSI

Self advance decline line

Self Advance Decline line - with floating levels

Extended normalized RSI - on chart version - indicator for MetaTrader 5