+Forex: RSI Signal (Relative Strength Index

RSI Signal

The Relative Strength Index - RSI is an oscillating indicator and was developed by Welles Wilder. The RSI indicator is one of the most commonly used indicators in technical analysis. See more about RSI Indicator.

RSI Signal is very successful innovation indicator RSI (Relative Strength Index), trader shows the inputs and outputs of the market. I recommend using this indicator as the Commodity Channel Index - CCI, Stochastic Oscillator, VininI BB MA WPR and the like, to confirm the trend.

RSI Signal MQ4 Code Base (Copy Code)


//+------------------------------------------------------------------+
//|                                            New RSI Signal II.mq4 |
//|                    Copyright 2012, http://plusforex.blogspot.com |
//|                                    http://plusforex.blogspot.com |
//+------------------------------------------------------------------+
#property copyright "Copyright 2012, http://plusforex.blogspot.com"
#property link      "http://plusforex.blogspot.com"

#property indicator_chart_window
#property indicator_buffers 4
//---- ??? RSI
#property indicator_color1 Red
#property indicator_color2 Blue
//---- input parameters
extern int       RSIPeriod=14;
extern double    _Up=70.0; //OverBoughtLevel - ??????? ???????????????
extern double    _Mid=50.0;
extern double    _Down=30.0;//OverSoldLevel - ??????? ???????????????
extern bool      ShowMidSignals=false;
extern bool      SoundON=true;
//---- ??????
extern int       DownArrow=234;
extern int       UpArrow=233;
//---- buffers
double UpBuffer[];
double DownBuffer[];
 
//---- ?????????????
int flagval1=0;
int flagval2=0;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
   SetIndexStyle(0,DRAW_ARROW);
   SetIndexArrow(0,DownArrow);//????
   SetIndexBuffer(0,UpBuffer);
   SetIndexEmptyValue(0,0.0);
   SetIndexStyle(1,DRAW_ARROW);
   SetIndexArrow(1,UpArrow);//?????
   SetIndexBuffer(1,DownBuffer);
   SetIndexEmptyValue(1,0.0);
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//----
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int    counted_bars=IndicatorCounted();
   int limit, i, counter;
   double Range, AvgRange;
   double RSIPrev,RSIAnow;
   if(counted_bars<0) return(-1);
   if(counted_bars>0) counted_bars--;
   limit=Bars-counted_bars;
     for(i=1; i<=limit; i++) 
     {counter=i;Range=0;AvgRange=0;
      for(counter=i ;counter<=i+9;counter++)
        {AvgRange=AvgRange+MathAbs(High[counter]-Low[counter]);}
      Range=AvgRange/10;
      RSIPrev=iRSI(Symbol(),0,RSIPeriod,PRICE_CLOSE,i+1);
      RSIAnow=iRSI(Symbol(),0,RSIPeriod,PRICE_CLOSE,i);
      UpBuffer[i]=EMPTY_VALUE;
      DownBuffer[i]=EMPTY_VALUE;
      if ((RSIPrev<_Down)&&(RSIAnow>_Down))
        {
         if (i==1 && flagval1==0)
           {
            flagval1=1;
            flagval2=0;
            if (SoundON) Alert("BUY signal at Ask=",Ask,"\n Bid=",Bid,"\n Time=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime()),"\n Symbol=",Symbol()," Period=",Period());
           }
         DownBuffer[i]=Low[i] - Range*0.5;
         UpBuffer[i]=EMPTY_VALUE;
         flagval1=0;
        }
       if ((ShowMidSignals)&&((RSIPrev<_Mid)&&(RSIAnow>_Mid)))
        {
         if (i==1 && flagval1==0)
           {
            flagval1=1;
            flagval2=0;
            if (SoundON) Alert("BUY signal at Ask=",Ask,"\n Bid=",Bid,"\n Time=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime()),"\n Symbol=",Symbol()," Period=",Period());
           }
         DownBuffer[i]=Low[i] - Range*0.5;
         UpBuffer[i]=EMPTY_VALUE;
         flagval1=0;
        } 
      if ((RSIPrev>_Up)&&(RSIAnow<_Up))
        {
         if (i==1 && flagval2==0)
           {
            flagval2=1;
            flagval1=0;
            if (SoundON) Alert("SELL signal at Ask=",Ask,"\n Bid=",Bid,"\n Time=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime()),"\n Symbol=",Symbol()," Period=",Period());
           }
         UpBuffer[i]=High[i] + Range*0.5;
         DownBuffer[i]=EMPTY_VALUE;
         flagval2=0;
        }
       if ((ShowMidSignals)&&((RSIPrev>_Mid)&&(RSIAnow<_Mid)))
        {
         if (i==1 && flagval2==0)
           {
            flagval2=1;
            flagval2=0;
            if (SoundON) Alert("SELL signal at Ask=",Ask,"\n Bid=",Bid,"\n Time=",TimeToStr(CurTime(),TIME_DATE)," ",TimeHour(CurTime()),":",TimeMinute(CurTime()),"\n Symbol=",Symbol()," Period=",Period());
           }
         UpBuffer[i]=High[i] + Range*0.5;
         DownBuffer[i]=EMPTY_VALUE;
         flagval2=0;
        } }               
      
   return(0);
  }
//+------------------------------------------------------------------+

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RSI Signal (Relative Strength Index - Signal)

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