HARSI Momentum Oscillator
- Indicators
-
Alireza Ghanatabadi
Avinex Capital is an algorithmic trading development studio focused on Python, MQL5, MetaTrader automation and financial-market infrastructure. - Version: 1.0
Let us introduce the **Heikin Ashi RSI Oscillator (HARSI)** for MetaTrader 5!
The **Heikin Ashi RSI Oscillator** combines the trend-smoothing concepts of Heikin Ashi candlesticks with the proven momentum tracking of the Relative Strength Index (RSI). Standard RSI readings are frequently subject to market noise, sudden price spikes, and erratic fluctuations. By computing the RSI across individual bar components and transforming them into Heikin Ashi candles, this oscillator provides traders with a significantly smoother, clearer, and more reliable representation of market momentum and reversal points.
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### Core Architecture & Calculation Engine:
1. **Multi-Component RSI Calculation:**
- The indicator calculates standard Wilder RSI values individually for the Open, High, Low, and Close prices of each bar.
- An advanced pre-smoothing filter (EMA, SMA, SMMA, LWMA) can be applied to these RSI components to eliminate erratic high-frequency noise.
2. **Heikin Ashi Candlestick Construction:**
- The smoothed RSI values are fed directly into the Heikin Ashi algorithmic formula to construct synthetic momentum candles:
- `haClose` = (RSI_Open + RSI_High + RSI_Low + RSI_Close) / 4
- `haOpen` = (haOpen_prev + haClose_prev) / 2
- `haHigh` = Max(RSI_High, haOpen, haClose)
- `haLow` = Min(RSI_Low, haOpen, haClose)
- Candlestick bodies and wicks are drawn inside a separate subwindow, color-coded in real-time (Green for bullish momentum, Red for bearish momentum).
3. **Dynamic Signal Moving Average:**
- An optional Moving Average line is plotted directly over the Heikin Ashi candles for secondary confirmation, smoothing, and crossover trigger identification.
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### Key Features:
* **Noise-Free Representation:** Strips away false divergence spikes and provides stable momentum readings.
* **Intuitive Candlestick Display:** Read oscillator dynamics exactly like price action with candles and shadows.
* **Full Smoothing Control:** Choose between SMA, EMA, SMMA, or Linear Weighted MA methods for pre-smoothing and signal lines.
* **Standard Overbought & Oversold Zones:** Features traditional 30, 50, and 70 reference levels for detecting market exhaustion.
* **Multi-Channel Alert Suite:** Receive instant notifications when candle colors shift or when the RSI crosses the Signal Line:
- Terminal Pop-up alerts
- Push notifications to your MT5 mobile app
- Audible sound alerts
* **100% Real-Time & Non-Repainting:** Does not repaint past bars; signals are firmly evaluated upon bar close.
* **Ultra-Lightweight Performance:** Native MQL5 execution with minimal CPU and memory overhead.
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### How to Interpret and Trade:
* **Momentum Reversals:** Watch for color transitions in the Heikin Ashi candles. A change from Red to Green signals emerging bullish momentum; a shift from Green to Red signals bearish momentum.
* **Signal Cross Confirmations:**
- **Bullish:** When the Heikin Ashi candle body crosses above the Signal Line.
- **Bearish:** When the Heikin Ashi candle body crosses below the Signal Line.
* **Exhaustion Entries:** Highest probability reversal setups occur when color shifts occur outside the 70 level (Overbought) or below the 30 level (Oversold).
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### Input Parameters:
* **RSI Period:** Period length for the base RSI calculations (Default: 14).
* **Enable RSI Pre-Smoothing:** Toggle smoothing on RSI components (Default: true).
* **Smoothing Period & Method:** Adjust the smoothing length and filter type (EMA, SMA, etc.).
* **Show Signal Line:** Enable or disable the dynamic Signal Moving Average overlay.
* **Signal MA Period & Method:** Customize the trigger line responsiveness (Default: 9, SMA).
* **Alert Settings:** Independently configure Pop-up, Sound, and Mobile Push alerts for color changes and signal crosses.
*Disclaimer: This is a technical trading tool and not direct financial advice. Always verify indicators in conjunction with proper risk management and market structure.*
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