Reverse_Engineering_RSI - indicator for MetaTrader 5

Reverse_Engineering_RSI – indicator MetaTrader 5

by

Based on Giorgos Siligardos’s article “The Revenge Of The Indicators Reverse Engineering RSI” published in the Stocks & Commodities magazine in June, 2003.

the indicator performs an inverse mathematical transform of oscillator RSI into price and helps assume, at which approximate level the close price of the next day will be, if RSI reaches a certain value.

The indicator has four input parameters:

  • RSI period – period of RSI.
  • MA period – MA period;
  • Method – calculation method;
  • Applied price – price used for calculations.

Calculation:

If RMA != 0:

ReRSI = Applied price + X * (100.0 – RSI_MA) / RSI_MA)

Otherwise:

ReRSI = Applied price + X

where:

If RSI_MA= 100:

X = (RSI Period – 1.0) * (ADC_MA * RSI_MA / (100.0 – RSI_MA) – AUC_MA)

Otherwise:

X = 0 
RSI_MA = MA(RSI, MA Period, Method)
RSI = RSI(RSI Period)
ADC_MA = EMA(DN, 2*RSI Period-1)
AUC_MA = EMA(UP, 2*RSI Period-1)

If Applied price > PrevPrice:

Alternative:   MathCeilRoundFloor - script MetaTrader 5
UP = Applied price – PrevPrice

If Applied price <= PrevPrice:

DN = PrevPrice – Applied price


Reverse_Engineering_RSI – indicator MetaTrader 5
📈 ROBOTFX MetaTrader Expert Advisors and Indicators to maximize profits and minimize the risks

Similar MetaTrader Trading Tools: