//+------------------------------------------------------------------+
//| FX5_SelfAdjustingRSI.mq4 |
//| FX5 |
//| hazem@uk2.net |
//+------------------------------------------------------------------+
#property copyright "FX5"
#property link "hazem@uk2.net"
//----
#property indicator_separate_window
#property indicator_minimum 1
#property indicator_maximum 100
#property indicator_buffers 3
#property indicator_level1 20
#property indicator_level2 50
#property indicator_level3 80
//---- input parameters
extern int rsiPeriod = 14;
extern double diviation = 2;
extern bool MA_Method = true;
extern color rsiColor = Blue;
extern color overBoughtColor = Red;
extern color overSoldColor = Green;
//---- buffers
double rsi[];
double upperBorder[];
double lowerBorder[];
double absDiviation[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0, DRAW_LINE, EMPTY, EMPTY, rsiColor);
SetIndexStyle(1, DRAW_LINE, EMPTY, EMPTY, overBoughtColor);
SetIndexStyle(2, DRAW_LINE, EMPTY, EMPTY, overSoldColor);
//----
SetIndexBuffer(0, rsi);
SetIndexBuffer(1, upperBorder);
SetIndexBuffer(2, lowerBorder);
//----
SetIndexDrawBegin(0, rsiPeriod);
SetIndexDrawBegin(1, rsiPeriod * 2);
SetIndexDrawBegin(2, rsiPeriod * 2);
//----
SetIndexLabel(0, "RSI");
SetIndexLabel(1, "OverBought");
SetIndexLabel(2, "OverSold");
//----
IndicatorShortName("FX5_SelfAdjustingRSI( " + rsiPeriod + " )");
IndicatorBuffers(4);
SetIndexBuffer(3, absDiviation);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int countedBars = IndicatorCounted();
//----
if(MA_Method == true)
MovingAverageMethod(countedBars);
else
StandardDeviationMethod(countedBars);
//----
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
void MovingAverageMethod(int countedBars)
{
if(countedBars < 0)
countedBars = 0;
//----
for(int i = Bars - countedBars; i >= 0; i--)
{
rsi[i] = iRSI(NULL, 0, rsiPeriod, PRICE_CLOSE, i);
double smoothedRSI = GetSmoothedRSI(i);
absDiviation[i] = MathAbs(rsi[i] - smoothedRSI);
double kDiviation = diviation * GetAbsDiviationAverage(i);
upperBorder[i] = 50 + kDiviation;
lowerBorder[i] = 50 - kDiviation;
}
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
void StandardDeviationMethod(int countedBars)
{
if(countedBars < 0)
countedBars = 0;
//----
for(int i = Bars - countedBars; i >= 0; i--)
{
rsi[i] = iRSI(NULL, 0, rsiPeriod, PRICE_CLOSE, i);
double rsiDiviation = iStdDevOnArray(rsi, 0, rsiPeriod, 0,
MODE_SMA, i);
double kDiviation = diviation * rsiDiviation;
upperBorder[i] = 50 + kDiviation;
lowerBorder[i] = 50 - kDiviation;
}
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
double GetSmoothedRSI(int shift)
{
double sum = 0;
for(int i = shift; i < shift + rsiPeriod; i++)
{
sum += rsi[i];
}
return(sum / rsiPeriod);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
double GetAbsDiviationAverage(int shift)
{
double sum = 0;
for(int i = shift; i < shift + rsiPeriod; i++)
{
sum += absDiviation[i];
}
return(sum / rsiPeriod);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Indicator Curves created:
Implements a curve of type DRAW_LINE
Indicators Used:
Relative strength index
Standard Deviation indicator
Custom Indicators Used:
Order Management characteristics:
Other Features: