Plus RSI 14

Plus RSI 14 — Relative Strength Index for MetaTrader 5

The Plus RSI 14 is a technical indicator for MetaTrader 5 developed to present, in a simple and objective way, the balance between buying and selling strength in the market.

The indicator analyzes changes in closing prices over the selected period and presents the result on a scale from 0 to 100, within a separate window from the main chart.

Its default configuration uses 14 periods and reference levels at 20 and 80.

Main Features

• Indicator displayed in a separate window
• Fixed scale from 0 to 100
• Default period of 14 candles
• Adjustable calculation period
• Level 20 for a possible oversold region
• Level 80 for a possible overbought region
• Simple, easy-to-read white visual line
• Compatible with different assets and chart timeframes
• Compatible with the MetaTrader 5 Visual Tester
• Prepared for tests based on real ticks
• Does not add unnecessary objects or signals to the main chart

Basic Interpretation

When the RSI approaches or exceeds level 80, the market may be showing stronger buying pressure or a possible overbought condition.

When the RSI approaches or falls below level 20, the market may be showing stronger selling pressure or a possible oversold condition.

These regions should not be interpreted in isolation as automatic entry signals. During strong movements, the RSI may remain in extreme regions for several candles.

The indicator may also assist in observing:

• Strength and continuity of movements
• Loss of momentum
• Return from extreme regions
• Confirmation of trading context
• Possible divergences between price and strength
• Confluence with support and resistance levels
• Complementary confirmation of trends and reversals

Available Parameter

InpPeriod: defines the number of candles used in the calculation. The default value is 14.

Shorter periods make the line more sensitive to recent fluctuations. Longer periods produce a smoother and less sensitive reading.

Compatibility with the Visual Tester

Plus RSI 14 includes specific handling for the MetaTrader 5 Visual Tester. During visual tests, the indicator hides the historical Bid, Ask, and Last trails that may be drawn by the Strategy Tester when using the real-tick-based model.

This handling is applied exclusively to the Visual Tester. Chart settings in the normal MetaTrader 5 environment remain unchanged.

Usage

Plus RSI 14 can be used by traders working with:

• Scalping
• Day trading
• Swing trading
• Trend analysis
• Reversal strategies
• Continuation strategies
• Price action confirmation

The indicator can be applied to currencies, indices, stocks, commodities, metals, and other instruments provided by the broker, respecting the trading characteristics of each market.

Important Note

Plus RSI 14 is a technical analysis tool. It does not execute trades, manage positions, or represent a recommendation to buy or sell.

No indicator can predict every market movement or guarantee results. It is recommended to test the settings and combine RSI analysis with market context, risk management, and other analytical criteria.

The description avoids guarantees, misleading language, and financial promises, in accordance with the official MQL5 Market rules.


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