RSI_Chart – indicator MetaTrader 5

Real author:

Yuriy Tokman (YTG)

The RSI indicator in the main chart window relative to the Moving Average indicator. The RSI indicator is shown in blue, the Moving Average line is orange, and the levels with the default values are shown as borders of a light gray channel.

Indicator input parameters:

//+----------------------------------------------+
//| Indicator input parameters                   |
//+----------------------------------------------+
input uint PeriodRSI=14;                              // RSI indicator period
input Smooth_Method XMA_Method=MODE_SMMA;             // Averaging method
input uint XLength=12;                                // Depth of averaging                    
input int XPhase=15;                                  // Smoothing parameter,
//---- for JJMA within the range of -100 ... +100 it influences the quality of the transition process;
//---- for VIDIA it is a CMO period, for AMA it is a slow average period
input double Dev=10.0;                                // Channel width deviation
input ENUM_APPLIED_PRICE  Applied_price=PRICE_CLOSE;  // Price type or handle
input uint  Level_RSI_UP = 60;                        // Overbought level
input uint  Level_RSI_DN = 40;                        // Oversold level
input int Shift=0;                                    // Horizontal indicator shift in bars

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

Fig.1. The RSI_Chart indicator