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Price Value For RSI Level

The indicator is intended to predict a price level at which RSI will have a predefined value. The indicator has two input parameters:
  • Period RSI (default value is 14);
  • Required RSI level (default value is 70.0).

During operation the indicator displays a line in the chart window. The line shows what price value is needed for the RSI with the specified period (14) to have the specified value (70). It allows analyzing the current overbought and oversold levels on the market, and place pending orders beforehand. The algorithm of RSI calculation is the same as used in МetaТrader 4/МetaТrader 5.

A version for MetaTrader 4 is also available. To get it send me a personal order in the "Jobs" section.

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Version 2.0 2016.02.15
A new faster and more stable calculation algorithm is used. The functionality of the indicator and its appearance have not changed.