//+------------------------------------------------------------------+
//| RSI_WithAlert.mq4 |
//| Copyright © 2007,MetaQuotes Software Corp |
//| http://www.sarmaye.com |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2007, MetaQuotes Software Corp."
#property link "http://www.sarmaye.com/"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 DodgerBlue
#property indicator_level1 60
#property indicator_level2 50
#property indicator_level3 40
//---- input parameters
extern int RSIPeriod=21;
extern int LevelBuy= 50;
extern int LevelSell= 50;
extern bool AlertOn=true;
//---- buffers
double RSIBuffer[];
double PosBuffer[];
double NegBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
string short_name;
//---- 2 additional buffers are used for counting.
IndicatorBuffers(3);
SetIndexBuffer(1,PosBuffer);
SetIndexBuffer(2,NegBuffer);
//---- indicator line
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,RSIBuffer);
//---- name for DataWindow and indicator subwindow label
short_name="RSI("+RSIPeriod+")";
IndicatorShortName(short_name);
SetIndexLabel(0,short_name);
//----
SetIndexDrawBegin(0,RSIPeriod);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Relative Strength Index |
//+------------------------------------------------------------------+
int start()
{
int i,counted_bars=IndicatorCounted();
double rel,negative,positive;
static datetime prevtime = 0;
//----
if(Bars<=RSIPeriod) return(0);
//---- initial zero
if(counted_bars<1)
for(i=1;i<=RSIPeriod;i++) RSIBuffer[Bars-i]=0.0;
//----
i=Bars-RSIPeriod-1;
if(counted_bars>=RSIPeriod) i=Bars-counted_bars-1;
while(i>=0)
{
double sumn=0.0,sump=0.0;
if(i==Bars-RSIPeriod-1)
{
int k=Bars-2;
//---- initial accumulation
while(k>=i)
{
rel=Close[k]-Close[k+1];
if(rel>0) sump+=rel;
else sumn-=rel;
k--;
}
positive=sump/RSIPeriod;
negative=sumn/RSIPeriod;
}
else
{
//---- smoothed moving average
rel=Close[i]-Close[i+1];
if(rel>0) sump=rel;
else sumn=-rel;
positive=(PosBuffer[i+1]*(RSIPeriod-1)+sump)/RSIPeriod;
negative=(NegBuffer[i+1]*(RSIPeriod-1)+sumn)/RSIPeriod;
}
PosBuffer[i]=positive;
NegBuffer[i]=negative;
if(negative==0.0) RSIBuffer[i]=0.0;
else RSIBuffer[i]=100.0-100.0/(1+positive/negative);
i--;
}
if(AlertOn)
{
if(prevtime == Time[0])
{
return(0);
}
prevtime = Time[0];
if (RSIBuffer[1]>LevelBuy && RSIBuffer[2]<=LevelBuy)
{
Alert(Symbol(), " M", Period(), " Buy Alert");
}
if (RSIBuffer[1]<LevelSell && RSIBuffer[2]>=LevelSell)
{
Alert(Symbol(), " M", Period(), " Sell Alert");
}
}
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Series array that contains close prices for each bar
Series array that contains open time of each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Indicators Used:
Custom Indicators Used:
Order Management characteristics:
Other Features:
It issuies visual alerts to the screen