XRSI_Candle_Vol – indicator MetaTrader 5

RSI_Candle_Vol indicator with additional averaging of the resulting candles. A similar averaging is applied to dynamic overbought/oversold levels as well.

//+-----------------------------------------+
//|  INDICATOR INPUT PARAMETERS             |
//+-----------------------------------------+
input uint                RSIPeriod=14;             // indicator period
input ENUM_APPLIED_VOLUME VolumeType=VOLUME_TICK;   // volume 
input int                 HighLevel=+7;             // overbought level
input int                 LowLevel=-7;              // oversold level
input uint                Gap=10;                   // unconsidered gap in points
input Smooth_Method       MA_SMethod=MODE_T3;       // Averaging method
input uint                MA_Length=12;             // Smoothing depth                    
input int                 MA_Phase=15;              // parameter of the first smoothing,
//---- 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 int                 Shift=0;                  // Horizontal indicator shift in bars

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>MQL5Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

Fig. 1. XRSI_Candle_Vol