In pscillator Self-Adjusting RSI, we have implemented the methods of automated adjusting the RSI oscillator overbought/oversold levels, described in David Sepiashvili’s article The Self-Adjusting RSI.

The indicator has five configurable parameters:

Period – RSI calculation period;
Applied price – RSI calculation price;
Calculation mode – adjusting mode:
- Standard deviation – by standard deviation;
- Moving average – by moving average.
Deviation for StdDev mode – deviation for the Standard deviation mode;
Deviation for MA mode – deviation for the Moving average mode.

Calculations:

SARSI = RSI(Period, Applied price)

If Calculation mode = Standard deviation:

Overbought = 50.0 + Deviation * AvgDev
Oversold = 50.0 - Deviation * AvgDev
AvgDev = StdDev(SARSI, Period, MODE_SMA)

If Calculation mode = Moving average:

Overbought = 50.0 + Deviation * AvgRAW
Oversold = 50.0 - Deviation * AvgRAW
AvgRAW = SMA(RAW, Period)
RAW = Abs(SARSI - AvgDev)
AvgDev = SMA(SARSI, Period)

Fig 1. Calculation mode = Standard deviation

Fig. 2. Calculation mode = Moving average

Self_Adjusting_RSI – indicator MetaTrader 5

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Alternative: Fourier extrapolation of price - indicator MetaTrader 5

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