RSI_Trend

//+------------------------------------------------------------------+
//|                                                    RSI_Trend.mq4 |
//|                                   Copyright © 2008, Robert Hill. |
//|                                                                  |
//| RSI Trend based on method described at
//|
//| http://scientifictrader.com/stock_trend.htm
//|
//| Up Trend
//| 
//| For starters, we will use a 9 period RSI.
//| The first step is to determine how many periods have passed
//| since the RSI went above 70 and how many periods have passed
//| since it went below 30.   
//| 
//| If there have been fewer periods since it was above 70,
//|  then we check to see if the lowest value of RSI since that
//|  point is still above 40.  If this is the case,
//|  then we have a confirmed up trend.
//|   It began when the RSI value first exceeded 70 and continues
//|  so long as the lowest RSI value stays above 40.
//| 
//| Down Trend
//| 
//| To identify a down trend, again we use a 9 period RSI.
//|   Then we determine how many periods have gone by since
//|  the RSI went above 70 and how many periods have passed
//|  since it went below 30. 
//| 
//| If there have been fewer periods since it was below 30,
//|  then we check to see if the highest value of RSI since that
//|  point is still below 60.  If this is the case then we have
//|  a confirmed down trend.
//|   It began when the RSI value first fell below 30 and continues
//|  so long as the highest RSI value stays below 60.
//| 
//| Trading Range
//| 
//| The trading range is simple to detect.
//|   We find it be default.  When an up trend ends,
//|  but a down trend is not detected by the above criteria,
//|  a trading range has been established.
//|   Of course, the opposite is true too.
//|   When a down trend ends, but an uptrend does not show itself,
//|  a trading range has been established.  

//| The bottom window displaying green and red vertical bars
//|  indicate up and down stock trends respectively.
//|  The same window, when neither green or red bars are present,
//|  indicate a trading range.
//|  These bars are based upon the RSI requirements we have noted above.
//|    Notice how each time the trend indicating bars precede significant
//|  price movements in the stock, allowing you to take advantage of them.
//|   Additionally, when no trend bars are present (a trading range),
//|  no significant price movement occurs in the stock.
//|   Imagine the advantage you would have over other traders in the
//|  market if you know beforehand the trend in a stock was about to shift! 
//+------------------------------------------------------------------+
#property copyright "Copyright © 2008, Robert Hill."
#property link      ""

#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 Green
#property indicator_color2 Red
//---- input parameters
extern int RSI_Period=9;
//---- buffers
double HistogramBufferUp[];
double HistogramBufferDown[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   string short_name;

   SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID);
   SetIndexBuffer(0,HistogramBufferUp);
   SetIndexStyle(1,DRAW_HISTOGRAM,STYLE_SOLID);
   SetIndexBuffer(1,HistogramBufferDown);
//---- name for DataWindow and indicator subwindow label
   short_name="RSI_Trend("+RSI_Period+")";
   IndicatorShortName(short_name);
   SetIndexLabel(0,short_name);
//----
   SetIndexDrawBegin(0,RSI_Period);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Relative Strength Index                                          |
//+------------------------------------------------------------------+
int start()
  {
   bool upTrend, downTrend;
   int    i,limit,counted_bars=IndicatorCounted();
   double temp;

//----
   if(counted_bars<0) return(-1);
//----
//---- last counted bar will be recounted
   if(counted_bars>0) counted_bars--;
   limit=Bars-counted_bars;
   for( i=limit; i>=0; i--)
     {
      HistogramBufferUp[i] = 0;
      HistogramBufferDown[i] = 0;
      temp = iRSI(NULL, 0, RSI_Period, PRICE_CLOSE, i);
      if (temp >= 70) upTrend = true;
      if (temp < 40) upTrend = false;
      if (temp <= 30) downTrend = true;
      if (temp > 60) downTrend = false;
      if (upTrend == true) HistogramBufferUp[i] = 1;
      if (downTrend == true) HistogramBufferDown[i] = -1;
     }
//----
   return(0);
  }
//+------------------------------------------------------------------+