/* ********************************************************************* RSI with Trend Catcher signal by Matsu based on codes from various sources ********************************************************************* */ //mod obos levels #property indicator_separate_window #property indicator_buffers 6 #property indicator_color1 DarkGreen #property indicator_color2 Red #property indicator_color3 Lime #property indicator_color4 DeepPink #property indicator_color5 Gold #property indicator_color6 Green #property indicator_level1 60 #property indicator_level2 50 #property indicator_level3 40 int BBPrd=20; double BBDev=2.0; int SBPrd=13; int SBATRPrd=21; double SBFactor=2; int SBShift=1; extern int RSIPeriod=21; extern int OverBoughtLevel=60; extern int OverSoldLevel=40; extern int BullZoneLevel=50; extern int BearZoneLevel=50; extern bool DrawDots = true; extern bool AlertOn = true; double RSI[]; double DnRSI[]; double Buy[]; double Sell[]; double Squeeze[]; double UpRSI[]; //----- int init() { SetIndexStyle(0,DRAW_LINE); SetIndexBuffer(0,RSI); if (DrawDots) { SetIndexStyle(1,DRAW_ARROW); SetIndexArrow(1,159); SetIndexEmptyValue(1,EMPTY_VALUE); SetIndexBuffer(1,DnRSI); SetIndexStyle(5,DRAW_ARROW); SetIndexArrow(5,159); SetIndexEmptyValue(5,EMPTY_VALUE); SetIndexBuffer(5,UpRSI); } SetIndexStyle(2,DRAW_ARROW,STYLE_SOLID); SetIndexArrow(2,159); SetIndexBuffer(2,Buy); SetIndexStyle(3,DRAW_ARROW,STYLE_SOLID); SetIndexArrow(3,159); SetIndexBuffer(3,Sell); SetIndexStyle(4,DRAW_ARROW,STYLE_SOLID); SetIndexArrow(4,159); SetIndexBuffer(4,Squeeze); IndicatorShortName("RSI("+RSIPeriod+")"); IndicatorDigits(2); return(0); } int start() { int counted_bars=IndicatorCounted(); int shift,limit,ob,os; double BBMA, SBMA, TopBBand, BotBBand, TopBBandPrev, BotBBandPrev, TopSBand, BotSBand; bool dn = false; double BuyNow, BuyPrevious, SellNow, SellPrevious; static datetime prevtime = 0; if (counted_bars<0) return(-1); if (counted_bars>0) counted_bars--; limit=Bars-31; if(counted_bars>=31) limit=Bars-counted_bars-1; for (shift=limit;shift>=0;shift--) { RSI[shift]=iRSI(NULL,0,RSIPeriod,PRICE_CLOSE,shift); // ob = indicator_level1; // os = indicator_level3; ob = OverBoughtLevel; os = OverSoldLevel; // ========= Two-tone RSI DnRSI[shift]=EMPTY_VALUE; UpRSI[shift]=EMPTY_VALUE; if (RSI[shift]>BullZoneLevel) { DnRSI[shift]=EMPTY_VALUE; UpRSI[shift]=RSI[shift]; } else if (RSI[shift]<BearZoneLevel) { DnRSI[shift]=RSI[shift]; UpRSI[shift]=EMPTY_VALUE; } else { DnRSI[shift]=EMPTY_VALUE; UpRSI[shift]=EMPTY_VALUE; } // ========= Two-tone RSI Ends // ========= Squeeze Signals BBMA = iMA(NULL,0,BBPrd,0,MODE_SMA,PRICE_CLOSE,shift); SBMA = iMA(NULL,0,SBPrd,0,MODE_EMA,PRICE_CLOSE,shift+SBShift); TopBBand = iBands(NULL,0,BBPrd,BBDev,0,PRICE_CLOSE,MODE_UPPER,shift); BotBBand = iBands(NULL,0,BBPrd,BBDev,0,PRICE_CLOSE,MODE_LOWER,shift); TopSBand = SBMA + (SBFactor * iATR(NULL,0,SBATRPrd,shift+SBShift)); BotSBand = SBMA - (SBFactor * iATR(NULL,0,SBATRPrd,shift+SBShift)); TopBBandPrev = iBands(NULL,0,BBPrd,BBDev,0,PRICE_CLOSE,MODE_UPPER,shift+1); BotBBandPrev = iBands(NULL,0,BBPrd,BBDev,0,PRICE_CLOSE,MODE_LOWER,shift+1); if (TopBBand<TopSBand && BotBBand>BotSBand) Squeeze[shift]=50; // ========= Squeeze Signals Ends // ========= BB Breakout Signals //if(Squeeze[shift+2]==50 && RSI[shift]>50 && BotBBand<BotSBand) if((Squeeze[shift+2]==50 || Squeeze[shift+1]==50) && RSI[shift]>50 && BotBBand<BotSBand) { Buy[shift]=ob; Sell[shift]=EMPTY_VALUE; } else //if(Squeeze[shift+2]==50 && RSI[shift]<50 && TopBBand>TopSBand) if((Squeeze[shift+2]==50 || Squeeze[shift+1]==50) && RSI[shift]<50 && TopBBand>TopSBand) { Buy[shift]=EMPTY_VALUE; Sell[shift]=os; } else if(Buy[shift+1]==ob && BotBBand<BotBBandPrev && RSI[shift]>50) { Buy[shift]=ob; Sell[shift]=EMPTY_VALUE; } else if(Sell[shift+1]==os && TopBBand>TopBBandPrev && RSI[shift]<50) { Buy[shift]=EMPTY_VALUE; Sell[shift]=os; } else { Buy[shift]=EMPTY_VALUE; Sell[shift]=EMPTY_VALUE; } // ========= BB Breakout Signals Ends } // ======= Alert ========= if(AlertOn) { if(prevtime == Time[0]) { return(0); } prevtime = Time[0]; BuyNow = Buy[1]; BuyPrevious = Buy[2]; SellNow = Sell[1]; SellPrevious = Sell[2]; if((BuyNow ==ob) && (BuyPrevious ==EMPTY_VALUE) ) { Alert("RSI TC: ",Symbol(), " M", Period(), " Buy Alert"); } else if((SellNow ==os) && (SellPrevious ==EMPTY_VALUE) ) { Alert("RSI TC: ",Symbol(), " M", Period(), " Sell Alert"); } IndicatorShortName("RSI("+RSIPeriod+") (Alert on)"); } // ======= Alert Ends ========= return(0); }
Sample
Analysis
Market Information Used:
Series array that contains open time of each bar
Indicator Curves created:
Implements a curve of type DRAW_LINE
Implements a curve of type DRAW_ARROW
Indicators Used:
Relative strength index
Moving average indicator
Bollinger bands indicator
Indicator of the average true range
Custom Indicators Used:
Order Management characteristics:
Other Features:
It issuies visual alerts to the screen