Better RSI MT5

This Indicator enhances the default Relative Strength Index (RSI) by introducing several improvements.

First, it visually highlights overbought and oversold regions by changing the RSI color from white to red. Second, it includes additional reference lines at 20, 40, 50, 60, and 80, providing a clearer framework for assessing RSI values.

The most notable feature is the use of the middle 50-line to indicate the current market cycle. The color of the 50-line dynamically reflects the cycle: green for a bullish cycle, red for a bearish cycle, and white for a neutral cycle.

The cycle transitions are determined based on RSI levels:

• When RSI reaches the overbought zone, the cycle shifts to bullish and remains so until RSI drops below 40, transitioning to neutral.
• When RSI enters the oversold zone, the cycle switches to bearish and continues until RSI rises above 60, at which point it becomes neutral.
• A neutral cycle persists until the RSI reaches either the overbought or oversold threshold, triggering a new cycle.